Cardinal Capital Management Inc. Sells 125 Shares of Amgen Inc. (NASDAQ:AMGN)

Cardinal Capital Management Inc. trimmed its position in Amgen Inc. (NASDAQ:AMGN) by 4.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,475 shares of the medical research company’s stock after selling 125 shares during the quarter. Cardinal Capital Management Inc.’s holdings in Amgen were worth $550,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Builder Investment Group Inc. ADV acquired a new position in shares of Amgen in the fourth quarter valued at approximately $378,000. FCA Corp TX boosted its position in shares of Amgen by 10.4% in the first quarter. FCA Corp TX now owns 17,321 shares of the medical research company’s stock valued at $4,187,000 after acquiring an additional 1,634 shares during the period. Eudaimonia Partners LLC grew its stake in shares of Amgen by 62.9% in the first quarter. Eudaimonia Partners LLC now owns 1,886 shares of the medical research company’s stock valued at $456,000 after acquiring an additional 728 shares in the last quarter. PFG Investments LLC bought a new position in Amgen during the first quarter worth about $449,000. Finally, Johnson Financial Group Inc. boosted its holdings in Amgen by 12.6% in the 1st quarter. Johnson Financial Group Inc. now owns 11,415 shares of the medical research company’s stock valued at $2,760,000 after purchasing an additional 1,277 shares during the period. Institutional investors own 74.44% of the company’s stock.

Insider Activity

In other Amgen news, EVP Murdo Gordon sold 9,558 shares of the company’s stock in a transaction 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 transaction, the executive vice president now owns 44,308 shares in the company, valued at $11,627,748.44. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.46% of the company’s stock.

Amgen Trading Down 0.6 %

AMGN traded down $1.58 during midday trading on Friday, hitting $260.72. 6,161,175 shares of the company were exchanged, compared to its average volume of 2,463,185. The firm’s 50 day moving average price is $247.27 and its 200-day moving average price is $237.49. Amgen Inc. has a 1-year low of $211.71 and a 1-year high of $296.67. The firm has a market capitalization of $139.46 billion, a P/E ratio of 17.58, a P/E/G ratio of 3.23 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 issued its quarterly earnings results on Thursday, August 3rd. The medical research company reported $5.00 earnings per share for the quarter, topping analysts’ consensus estimates of $4.44 by $0.56. Amgen had a return on equity of 196.60% and a net margin of 30.02%. The firm had revenue of $7 billion during the quarter, compared to the consensus estimate of $6.66 billion. During the same period last year, the business posted $4.65 EPS. The business’s revenue was up 6.2% compared to the same quarter last year. As a group, equities analysts forecast that Amgen Inc. will post 18.35 EPS for the current fiscal year.

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Friday, August 18th were paid a $2.13 dividend. The ex-dividend date of this dividend was Thursday, August 17th. This represents a $8.52 dividend on an annualized basis and a yield of 3.27%. Amgen’s dividend payout ratio (DPR) is presently 57.45%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AMGN. Barclays reduced their price target on Amgen from $225.00 to $210.00 in a research report on Tuesday, July 11th. Argus reduced their price objective on shares of Amgen from $270.00 to $260.00 in a research note on Monday, June 26th. Royal Bank of Canada upped their price target on shares of Amgen from $250.00 to $253.00 and gave the stock a “sector perform” rating in a report on Friday, August 4th. Mizuho lifted their price objective on shares of Amgen from $214.00 to $223.00 and gave the company a “neutral” rating in a research note on Monday, August 14th. Finally, StockNews.com upgraded Amgen from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 8th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $264.19.

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.