Vision Capital Management Inc. Lowers Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Vision Capital Management Inc. cut its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 2.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 35,160 shares of the medical research company’s stock after selling 757 shares during the quarter. Amgen makes up approximately 1.6% of Vision Capital Management Inc.’s holdings, making the stock its 17th biggest holding. Vision Capital Management Inc.’s holdings in Amgen were worth $10,986,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of AMGN. Strategic Financial Concepts LLC purchased a new stake in Amgen in the second quarter worth about $26,000. Horizon Financial Services LLC bought a new stake in shares of 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 worth approximately $29,000. nVerses Capital LLC bought a new position in shares of Amgen during the second quarter valued at approximately $31,000. Finally, Bbjs Financial Advisors LLC purchased a new position in Amgen during the second quarter valued at approximately $33,000. Institutional investors own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

AMGN has been the topic of several recent research reports. Royal Bank of Canada increased their target price on Amgen from $332.00 to $362.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $380.00 price objective (up from $375.00) on shares of Amgen in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $305.00 target price (down from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. TD Cowen upped their target price on Amgen from $360.00 to $381.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Finally, Argus upped their target price on Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Eleven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $327.28.

Amgen Price Performance

NASDAQ:AMGN opened at $325.92 on Tuesday. The firm’s fifty day moving average is $326.56 and its two-hundred day moving average is $302.67. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.89 and a current ratio of 1.26. Amgen Inc. has a one year low of $249.70 and a one year high of $346.85. The firm has a market cap of $175.13 billion, a price-to-earnings ratio of 46.56, a PEG ratio of 2.85 and a beta of 0.61.

Amgen (NASDAQ:AMGN) last posted its 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). Amgen had a return on equity of 161.72% and a net margin of 10.12%. The firm had revenue of $8.39 billion for the quarter, compared to analysts’ expectations of $8.35 billion. During the same period in the previous year, the company earned $5.00 earnings per share. The company’s revenue was up 20.1% compared to the same quarter last year. Research analysts expect that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s dividend payout ratio is presently 128.57%.

Amgen Profile

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.