STF Management LP Decreases Stake in Amgen Inc. (NASDAQ:AMGN)

STF Management LP reduced its position in shares of Amgen Inc. (NASDAQ:AMGN) by 4.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,551 shares of the medical research company’s stock after selling 417 shares during the period. Amgen comprises approximately 1.1% of STF Management LP’s portfolio, making the stock its 22nd largest position. STF Management LP’s holdings in Amgen were worth $2,672,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Strategic Financial Concepts LLC purchased a new stake in Amgen during the second quarter worth approximately $26,000. Horizon Financial Services LLC purchased a new position in shares of Amgen during the first quarter worth approximately $28,000. United Community Bank purchased a new position in shares of Amgen during the fourth quarter worth approximately $29,000. nVerses Capital LLC purchased a new stake in Amgen in the 2nd quarter valued at $31,000. Finally, Bbjs Financial Advisors LLC acquired a new stake in Amgen during the 2nd quarter worth $33,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Stock Performance

Amgen stock opened at $332.45 on Monday. 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 fifty-two week low of $249.70 and a fifty-two week high of $346.85. The stock has a fifty day moving average of $328.18 and a two-hundred day moving average of $304.00. The company has a market capitalization of $178.64 billion, a price-to-earnings ratio of 47.49, a PEG ratio of 2.93 and a beta of 0.61.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 EPS 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 analysts’ expectations of $8.35 billion. During the same period in the prior year, the firm earned $5.00 EPS. Amgen’s revenue for the quarter was up 20.1% on a year-over-year basis. On average, analysts anticipate that Amgen Inc. will post 19.49 EPS for the current fiscal year.

Amgen Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were given a $2.25 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $9.00 annualized dividend and a dividend yield of 2.71%. Amgen’s dividend payout ratio is presently 128.57%.

Wall Street Analyst Weigh In

AMGN has been the subject of a number of research reports. Argus upped their target price on shares of Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Jefferies Financial Group reaffirmed a “buy” rating and set a $380.00 price objective (up from $375.00) on shares of Amgen in a research note on Wednesday, August 7th. Wells Fargo & Company cut Amgen from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $320.00 to $335.00 in a research note on Wednesday, August 7th. Oppenheimer reiterated an “outperform” rating and issued a $380.00 price objective on shares of Amgen in a research report on Wednesday, August 7th. Finally, Morgan Stanley cut 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. Eleven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Amgen has a consensus rating of “Moderate Buy” and an average target price of $327.28.

Amgen Company 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.