One Wealth Management Investment & Advisory Services LLC Trims Stock Position in Amgen Inc. (NASDAQ:AMGN)

One Wealth Management Investment & Advisory Services LLC trimmed its holdings in Amgen Inc. (NASDAQ:AMGN) by 10.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 732 shares of the medical research company’s stock after selling 83 shares during the period. One Wealth Management Investment & Advisory Services LLC’s holdings in Amgen were worth $229,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AMGN. Horizon Financial Services LLC purchased a new stake in Amgen in the 1st quarter valued at about $28,000. United Community Bank purchased a new stake in shares of Amgen in the 4th quarter valued at approximately $29,000. nVerses Capital LLC acquired a new position in shares of Amgen in the 2nd quarter worth approximately $31,000. Bbjs Financial Advisors LLC acquired a new position in Amgen during the second quarter worth $33,000. Finally, Western Pacific Wealth Management LP purchased a new position in shares of Amgen during the fourth quarter worth $37,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on AMGN shares. Oppenheimer reiterated an “outperform” rating and issued a $380.00 price objective on shares of Amgen in a report on Wednesday, August 7th. Royal Bank of Canada lifted their price objective on shares of Amgen from $332.00 to $362.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Bank of America increased their target price on shares of Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Morgan Stanley dropped their price target on Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 11th. Finally, Wells Fargo & Company cut Amgen from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $320.00 to $335.00 in a research report on Wednesday, August 7th. Eleven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Amgen currently has an average rating of “Moderate Buy” and a consensus price target of $327.28.

Amgen Price Performance

Shares of NASDAQ:AMGN traded down $3.80 during trading on Friday, hitting $320.56. 2,242,451 shares of the stock were exchanged, compared to its average volume of 2,541,291. Amgen Inc. has a 12-month low of $249.70 and a 12-month high of $346.85. The company has a market cap of $171.96 billion, a PE ratio of 45.79, a P/E/G ratio of 2.96 and a beta of 0.58. The company has a fifty day moving average price of $326.26 and a two-hundred day moving average price of $302.12. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 9.64.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share for the quarter, missing the consensus estimate of $5.01 by ($0.04). The firm had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.35 billion. Amgen had a net margin of 10.12% and a return on equity of 161.72%. The firm’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same period last year, the company posted $5.00 EPS. On average, analysts forecast that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date was Friday, August 16th. Amgen’s payout ratio is currently 128.57%.

About Amgen

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.