Retirement Planning Group LLC Has $272,000 Stock Position in Amgen Inc. (NASDAQ:AMGN)

Retirement Planning Group LLC cut its position in Amgen Inc. (NASDAQ:AMGN) by 22.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 869 shares of the medical research company’s stock after selling 256 shares during the period. Retirement Planning Group LLC’s holdings in Amgen were worth $272,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in AMGN. International Assets Investment Management LLC acquired a new position in shares of Amgen during the fourth quarter worth approximately $32,880,000. Custom Index Systems LLC acquired a new position in Amgen during the 4th quarter worth $221,000. Cerity Partners LLC boosted its position in Amgen by 9.6% in the 4th quarter. Cerity Partners LLC now owns 266,425 shares of the medical research company’s stock valued at $76,736,000 after buying an additional 23,420 shares during the last quarter. Janiczek Wealth Management LLC increased its stake in shares of Amgen by 8.8% in the 4th quarter. Janiczek Wealth Management LLC now owns 757 shares of the medical research company’s stock valued at $218,000 after buying an additional 61 shares during the period. Finally, Signature Estate & Investment Advisors LLC raised its position in shares of Amgen by 8.2% during the fourth quarter. Signature Estate & Investment Advisors LLC now owns 2,988 shares of the medical research company’s stock worth $860,000 after acquiring an additional 226 shares during the last quarter. 76.50% of the stock is owned by institutional investors.

Amgen Stock Performance

Shares of AMGN traded down $3.19 during mid-day trading on Monday, reaching $319.30. The company’s stock had a trading volume of 508,349 shares, compared to its average volume of 2,632,645. The company has a current ratio of 1.42, a quick ratio of 0.98 and a debt-to-equity ratio of 11.96. Amgen Inc. has a 1-year low of $248.38 and a 1-year high of $346.85. The business has a 50-day simple moving average of $318.39 and a two-hundred day simple moving average of $298.79. The stock has a market cap of $171.28 billion, a P/E ratio of 46.07, a PEG ratio of 2.78 and a beta of 0.58.

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

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Friday, August 16th will be issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date is Friday, August 16th. Amgen’s dividend payout ratio is 128.57%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on AMGN shares. Barclays raised shares of Amgen from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $230.00 to $300.00 in a research note on Friday, May 3rd. Bank of America increased their price target on Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. UBS Group increased their target price on Amgen from $284.00 to $307.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. William Blair upgraded shares of Amgen from a “market perform” rating to an “outperform” rating in a report on Friday, May 3rd. Finally, Morgan Stanley dropped their price objective on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a report on Thursday, July 11th. Eleven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $326.89.

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.