Acrospire Investment Management LLC reduced its position in shares of Amgen Inc. (NASDAQ:AMGN) by 50.0% during the second quarter, Holdings Channel reports. The fund owned 1,100 shares of the medical research company’s stock after selling 1,100 shares during the period. Acrospire Investment Management LLC’s holdings in Amgen were worth $167,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Integrated Wealth Management boosted its position in shares of Amgen by 0.3% in the second quarter. Integrated Wealth Management now owns 930 shares of the medical research company’s stock worth $141,000 after buying an additional 3 shares in the last quarter. Goelzer Investment Management Inc. boosted its position in shares of Amgen by 0.3% in the second quarter. Goelzer Investment Management Inc. now owns 1,604 shares of the medical research company’s stock worth $244,000 after buying an additional 5 shares in the last quarter. Nadler Financial Group Inc. boosted its position in shares of Amgen by 0.3% in the second quarter. Nadler Financial Group Inc. now owns 2,111 shares of the medical research company’s stock worth $321,000 after buying an additional 6 shares in the last quarter. Capital Advisors Ltd. LLC boosted its position in shares of Amgen by 0.6% in the second quarter. Capital Advisors Ltd. LLC now owns 1,078 shares of the medical research company’s stock worth $164,000 after buying an additional 6 shares in the last quarter. Finally, Parkside Financial Bank & Trust boosted its position in shares of Amgen by 0.4% in the second quarter. Parkside Financial Bank & Trust now owns 1,463 shares of the medical research company’s stock worth $223,000 after buying an additional 6 shares in the last quarter. Hedge funds and other institutional investors own 79.15% of the company’s stock.

Amgen Inc. (NASDAQ:AMGN) traded down 0.413% during midday trading on Friday, reaching $174.895. The company’s stock had a trading volume of 993,099 shares. The stock has a market capitalization of $130.88 billion, a price-to-earnings ratio of 17.898 and a beta of 0.87. The firm has a 50-day moving average price of $172.03 and a 200 day moving average price of $159.88. Amgen Inc. has a 52-week low of $130.09 and a 52-week high of $176.85.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Wednesday, July 27th. The medical research company reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.74 by $0.10. The firm earned $5.69 billion during the quarter, compared to analysts’ expectations of $5.58 billion. Amgen had a net margin of 33.07% and a return on equity of 29.30%. The company’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter last year, the company earned $2.57 earnings per share. Equities research analysts predict that Amgen Inc. will post $11.36 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 8th. Shareholders of record on Wednesday, August 17th were paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date of this dividend was Monday, August 15th. Amgen’s dividend payout ratio is 40.90%.

Several research analysts recently commented on AMGN shares. Vetr cut Amgen from a “strong-buy” rating to a “buy” rating and set a $175.53 price target on the stock. in a research note on Monday, May 30th. Bank of America Corp. reiterated a “hold” rating and issued a $182.00 price target on shares of Amgen in a research note on Wednesday, June 8th. BMO Capital Markets reiterated an “outperform” rating and issued a $186.00 price target on shares of Amgen in a research note on Thursday, June 9th. Leerink Swann reiterated a “market perform” rating and issued a $186.00 price target on shares of Amgen in a research note on Thursday, June 9th. Finally, Goldman Sachs Group Inc. reiterated a “buy” rating and issued a $202.00 price target on shares of Amgen in a research note on Wednesday, June 15th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $184.56.

In other Amgen news, VP Annette Louise Such sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $174.59, for a total transaction of $523,770.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.20% of the company’s stock.

Amgen Company Profile

Amgen Inc is a biotechnology company. The Company discovers, develops, manufactures and delivers various human therapeutics. The Company’s business segment is human therapeutics. Its marketed products portfolio includes Neulasta (pegfilgrastim); erythropoiesis-stimulating agents (ESAs), such as Aranesp (darbepoetin alfa) and EPOGEN (epoetin alfa); Sensipar/Mimpara (cinacalcet); XGEVA (denosumab); Prolia (denosumab); NEUPOGEN (filgrastim), and other marketed products, such as Vectibix (panitumumab), Nplate (romiplostim) and Corlanor (ivabradine).

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