Moors & Cabot Inc. Has $6.52 Million Position in Amgen Inc. (NASDAQ:AMGN)

Moors & Cabot Inc. lessened its position in Amgen Inc. (NASDAQ:AMGN) by 4.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,875 shares of the medical research company’s stock after selling 919 shares during the period. Moors & Cabot Inc.’s holdings in Amgen were worth $6,522,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of AMGN. Luts & Greenleigh Group Inc. bought a new position in Amgen during the second quarter worth about $207,000. WealthPLAN Partners LLC bought a new stake in Amgen in the second quarter valued at approximately $3,855,000. Citizens Financial Group Inc. RI lifted its position in shares of Amgen by 28.5% in the second quarter. Citizens Financial Group Inc. RI now owns 14,218 shares of the medical research company’s stock valued at $4,442,000 after buying an additional 3,156 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Amgen by 6.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,701,631 shares of the medical research company’s stock worth $844,137,000 after acquiring an additional 162,223 shares during the period. Finally, Capital Wealth Planning LLC increased its holdings in shares of Amgen by 47.1% during the 2nd quarter. Capital Wealth Planning LLC now owns 1,226,027 shares of the medical research company’s stock worth $383,072,000 after acquiring an additional 392,727 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on AMGN shares. Morgan Stanley reduced their price objective on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a research report on Thursday, July 11th. Bank of America upped their price target on shares of Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Royal Bank of Canada raised their price objective 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. Jefferies Financial Group restated a “buy” rating and set a $380.00 price objective (up previously from $375.00) on shares of Amgen in a report on Wednesday, August 7th. Finally, Argus increased their target price on Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Eleven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $327.28.

Amgen Stock Performance

NASDAQ AMGN opened at $335.26 on Tuesday. The firm’s 50 day simple moving average is $328.66 and its 200 day simple moving average is $304.44. The firm has a market capitalization of $179.85 billion, a price-to-earnings ratio of 47.89, a P/E/G ratio of 2.93 and a beta of 0.61. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 9.64. Amgen Inc. has a 1 year low of $249.70 and a 1 year high of $346.85.

Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). Amgen had a net margin of 10.12% and a return on equity of 161.72%. The business had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.35 billion. During the same period in the prior year, the business posted $5.00 EPS. The company’s revenue for the quarter was up 20.1% compared to the same quarter last year. As a group, research analysts expect that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were issued a $2.25 dividend. The ex-dividend date was Friday, August 16th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.68%. Amgen’s dividend payout ratio (DPR) is currently 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.