Crescent Grove Advisors LLC Sells 2,000 Shares of Amgen Inc. (NASDAQ:AMGN)

Crescent Grove Advisors LLC lowered its stake in Amgen Inc. (NASDAQ:AMGN – Free Report) by 71.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 797 shares of the medical research company’s stock after selling 2,000 shares during the quarter. Crescent Grove Advisors LLC’s holdings in Amgen were worth $249,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in Amgen by 6.2% during the 1st quarter. Vanguard Group Inc. now owns 52,088,210 shares of the medical research company’s stock valued at $14,809,720,000 after purchasing an additional 3,045,657 shares during the period. Capital International Investors raised its holdings in shares of Amgen by 547.8% during the first quarter. Capital International Investors now owns 7,005,269 shares of the medical research company’s stock valued at $1,991,738,000 after acquiring an additional 5,923,915 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Amgen by 3.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,564,710 shares of the medical research company’s stock worth $1,890,769,000 after acquiring an additional 243,720 shares during the period. Royal Bank of Canada boosted its holdings in Amgen by 14.8% in the fourth quarter. Royal Bank of Canada now owns 5,831,624 shares of the medical research company’s stock valued at $1,679,625,000 after acquiring an additional 751,947 shares in the last quarter. Finally, Norges Bank purchased a new position in Amgen during the 4th quarter valued at $1,556,912,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Trading Up 0.2 %

Shares of NASDAQ:AMGN traded up $0.60 on Wednesday, hitting $329.15. 1,138,160 shares of the company’s stock were exchanged, compared to its average volume of 2,590,501. The stock has a market capitalization of $176.57 billion, a price-to-earnings ratio of 47.02, a price-to-earnings-growth ratio of 2.78 and a beta of 0.58. Amgen Inc. has a 12 month low of $248.38 and a 12 month high of $346.85. The company has a debt-to-equity ratio of 11.96, a current ratio of 1.42 and a quick ratio of 0.98. The business’s 50 day simple moving average is $321.57 and its two-hundred day simple moving average is $299.40.

Amgen (NASDAQ:AMGN – Get Free Report) last announced its earnings results on Tuesday, August 6th. The medical research company reported $4.97 EPS for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). The firm had revenue of $8.39 billion during the quarter, compared to the consensus estimate of $8.35 billion. Amgen had a return on equity of 156.21% and a net margin of 12.74%. The business’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.00 earnings per share. Analysts anticipate that Amgen Inc. will post 19.5 EPS for the current fiscal year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were given a dividend of $2.25 per share. The ex-dividend date was Friday, August 16th. This represents a $9.00 dividend on an annualized basis and a yield of 2.73%. Amgen’s dividend payout ratio is presently 128.57%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Mizuho lifted their target price on shares of Amgen from $223.00 to $235.00 and gave the company a “neutral” rating in a research note on Thursday, May 9th. William Blair upgraded Amgen from a “market perform” rating to an “outperform” rating in a research note on Friday, May 3rd. Jefferies Financial Group reaffirmed a “buy” rating and issued a $380.00 price target (up from $375.00) on shares of Amgen in a research note on Wednesday, August 7th. Oppenheimer reiterated an “outperform” rating and issued a $380.00 price objective on shares of Amgen in a report on Wednesday, August 7th. Finally, Wells Fargo & Company cut shares of Amgen from an “overweight” rating to an “equal weight” rating and boosted their target price for the company from $320.00 to $335.00 in a report on Wednesday, August 7th. Eleven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $326.89.

Read Our Latest Report on AMGN

Amgen Profile

(Free Report)

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.

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