Cypress Capital Group Cuts Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Cypress Capital Group lessened its position in Amgen Inc. (NASDAQ:AMGN) by 11.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,383 shares of the medical research company’s stock after selling 1,647 shares during the quarter. Cypress Capital Group’s holdings in Amgen were worth $4,182,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently modified their holdings of the company. Horizon Financial Services LLC bought a new stake in Amgen during the 1st quarter valued at $28,000. United Community Bank purchased a new position in Amgen in the 4th quarter worth about $29,000. Delos Wealth Advisors LLC lifted its position in Amgen by 2,500.0% during the fourth quarter. Delos Wealth Advisors LLC now owns 104 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 100 shares during the period. Bbjs Financial Advisors LLC purchased a new position in shares of Amgen in the 2nd quarter worth $33,000. Finally, Western Pacific Wealth Management LP purchased a new position in Amgen in the fourth quarter worth about $37,000. 76.50% of the stock is currently owned by institutional investors.

Amgen Stock Up 1.3 %

NASDAQ:AMGN traded up $4.27 during trading hours on Friday, reaching $328.80. The company’s stock had a trading volume of 1,771,092 shares, compared to its average volume of 2,582,902. The company has a market capitalization of $176.38 billion, a P/E ratio of 46.97, a price-to-earnings-growth ratio of 2.78 and a beta of 0.58. The company has a debt-to-equity ratio of 11.96, a quick ratio of 0.98 and a current ratio of 1.42. The stock has a 50 day moving average price of $322.70 and a two-hundred day moving average price of $299.54. Amgen Inc. has a 12 month low of $248.38 and a 12 month high of $346.85.

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

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were paid a dividend of $2.25 per share. The ex-dividend date was Friday, August 16th. This represents a $9.00 annualized dividend and a yield of 2.74%. Amgen’s dividend payout ratio is presently 128.57%.

Wall Street Analyst Weigh In

Several analysts have issued reports on AMGN shares. Wells Fargo & Company cut shares of 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 note on Wednesday, August 7th. Oppenheimer reissued an “outperform” rating and set a $380.00 target price on shares of Amgen in a research note on Wednesday, August 7th. Argus upped their price target on Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. UBS Group lifted their price objective on shares of Amgen from $284.00 to $307.00 and gave the company a “neutral” rating in a research report on Friday, May 3rd. Finally, Royal Bank of Canada upped their target price on shares of Amgen from $332.00 to $362.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Eleven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.