Mutual of America Capital Management LLC Lowers Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Mutual of America Capital Management LLC reduced its position in shares of Amgen Inc. (NASDAQ:AMGN) by 3.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 68,273 shares of the medical research company’s stock after selling 2,272 shares during the period. Mutual of America Capital Management LLC’s holdings in Amgen were worth $21,332,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. L & S Advisors Inc raised its stake in shares of Amgen by 86.0% in the second quarter. L & S Advisors Inc now owns 20,090 shares of the medical research company’s stock valued at $6,277,000 after acquiring an additional 9,291 shares in the last quarter. Axxcess Wealth Management LLC raised its stake in shares of Amgen by 30.4% in the second quarter. Axxcess Wealth Management LLC now owns 16,442 shares of the medical research company’s stock valued at $5,137,000 after acquiring an additional 3,833 shares in the last quarter. Tower Wealth Partners Inc. raised its stake in shares of Amgen by 41.6% in the second quarter. Tower Wealth Partners Inc. now owns 1,120 shares of the medical research company’s stock valued at $350,000 after acquiring an additional 329 shares in the last quarter. Alpha Financial Partners LLC acquired a new stake in shares of Amgen in the second quarter valued at $244,000. Finally, Luts & Greenleigh Group Inc. acquired a new stake in shares of Amgen in the second quarter valued at $207,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Royal Bank of Canada increased their price objective on Amgen from $332.00 to $362.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Oppenheimer restated an “outperform” rating and issued a $380.00 price target on shares of Amgen in a research note on Wednesday, August 7th. Argus raised their price target on Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Jefferies Financial Group restated a “buy” rating and issued a $380.00 price target (up from $375.00) on shares of Amgen in a research note on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $305.00 price target (down from $310.00) on shares of Amgen in a research note on Wednesday, August 7th. Eleven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $327.28.

Amgen Stock Performance

NASDAQ AMGN opened at $332.80 on Wednesday. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 9.64. Amgen Inc. has a 52-week low of $249.70 and a 52-week high of $346.85. The business’s 50-day moving average price is $329.00 and its 200 day moving average price is $304.81. The firm has a market cap of $178.53 billion, a P/E ratio of 47.54, a P/E/G ratio of 2.93 and a beta of 0.61.

Amgen (NASDAQ:AMGN) last released 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 161.72% and a net margin of 10.12%. The company had revenue of $8.39 billion for the quarter, compared to analysts’ expectations of $8.35 billion. During the same period in the prior year, the business earned $5.00 EPS. The business’s quarterly revenue was up 20.1% compared to the same quarter last year. On average, equities research analysts expect that Amgen Inc. will post 19.49 earnings per share for the current year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date was Friday, August 16th. Amgen’s dividend payout ratio 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.