Transcend Capital Advisors LLC Cuts Stock Position in Amgen Inc. (NASDAQ:AMGN)

Transcend Capital Advisors LLC reduced its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 0.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,230 shares of the medical research company’s stock after selling 86 shares during the period. Transcend Capital Advisors LLC’s holdings in Amgen were worth $2,271,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. BlackRock Inc. boosted its position in Amgen by 0.5% in the first quarter. BlackRock Inc. now owns 48,780,233 shares of the medical research company’s stock valued at $11,792,621,000 after buying an additional 265,593 shares during the last quarter. Morgan Stanley lifted its holdings in Amgen by 12.9% during the fourth quarter. Morgan Stanley now owns 13,301,365 shares of the medical research company’s stock valued at $3,493,471,000 after purchasing an additional 1,523,665 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Amgen by 0.5% in the first quarter. Geode Capital Management LLC now owns 11,430,259 shares of the medical research company’s stock worth $2,757,927,000 after acquiring an additional 54,692 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Amgen by 15.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 10,761,437 shares of the medical research company’s stock worth $2,601,577,000 after acquiring an additional 1,474,151 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC grew its stake in Amgen by 83,875.6% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 7,541,011 shares of the medical research company’s stock valued at $1,980,571,000 after acquiring an additional 7,532,031 shares in the last quarter. Hedge funds and other institutional investors own 74.44% of the company’s stock.

Amgen Price Performance

AMGN stock traded up $0.66 on Tuesday, reaching $263.81. 846,701 shares of the company’s stock were exchanged, compared to its average volume of 2,450,178. The stock has a fifty day moving average of $248.12 and a 200-day moving average of $237.72. Amgen Inc. has a twelve month low of $211.71 and a twelve month high of $296.67. The firm has a market cap of $141.11 billion, a PE ratio of 17.74, a P/E/G ratio of 3.28 and a beta of 0.61. The company has a quick ratio of 2.48, a current ratio of 2.77 and a debt-to-equity ratio of 8.76.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Thursday, August 3rd. The medical research company reported $5.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.44 by $0.56. The company had revenue of $7 billion for the quarter, compared to analysts’ expectations of $6.66 billion. Amgen had a net margin of 30.02% and a return on equity of 196.60%. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period last year, the company earned $4.65 EPS. As a group, equities analysts predict that Amgen Inc. will post 18.35 EPS for the current fiscal year.

Amgen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Friday, August 18th were given a $2.13 dividend. This represents a $8.52 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date of this dividend was Thursday, August 17th. Amgen’s dividend payout ratio is currently 57.45%.

Wall Street Analysts Forecast Growth

AMGN has been the subject of several analyst reports. Jefferies Financial Group upped their target price on Amgen from $275.00 to $310.00 and gave the company a “buy” rating in a report on Monday, August 14th. Barclays cut their target price on shares of Amgen from $225.00 to $210.00 in a research note on Tuesday, July 11th. Credit Suisse Group reduced their price target on Amgen from $220.00 to $200.00 in a research report on Wednesday, July 12th. Argus lifted their price objective on shares of Amgen from $260.00 to $280.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Mizuho raised their price objective on Amgen from $214.00 to $223.00 and gave the stock a “neutral” rating in a report on Monday, August 14th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Amgen currently has a consensus rating of “Moderate Buy” and an average price target of $265.44.

Insider Buying and Selling

In related news, EVP Murdo Gordon sold 9,558 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $262.43, for a total transaction of $2,508,305.94. Following the completion of the transaction, the executive vice president now owns 44,308 shares of the company’s stock, valued at $11,627,748.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.57% of the stock is currently owned by company insiders.

Amgen Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology, and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta that reduces the chance of infection due a low white blood cell count in patients cancer; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; and Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization.