Legend Financial Advisors Inc. Has $123,000 Position in Amgen Inc. (NASDAQ:AMGN)

Legend Financial Advisors Inc. decreased its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 19.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 381 shares of the medical research company’s stock after selling 94 shares during the quarter. Legend Financial Advisors Inc.’s holdings in Amgen were worth $123,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Capital International Investors raised its holdings in Amgen by 547.8% in the 1st quarter. Capital International Investors now owns 7,005,269 shares of the medical research company’s stock valued at $1,991,738,000 after acquiring an additional 5,923,915 shares during the period. Vanguard Group Inc. lifted its holdings in Amgen by 6.2% during the 1st quarter. Vanguard Group Inc. now owns 52,088,210 shares of the medical research company’s stock worth $14,809,720,000 after purchasing an additional 3,045,657 shares during the last quarter. Janus Henderson Group PLC boosted its stake in Amgen by 137.1% in the 1st quarter. Janus Henderson Group PLC now owns 2,381,133 shares of the medical research company’s stock valued at $676,984,000 after purchasing an additional 1,377,007 shares during the period. Capital Wealth Planning LLC grew its holdings in Amgen by 28,684.1% in the 1st quarter. Capital Wealth Planning LLC now owns 833,300 shares of the medical research company’s stock valued at $236,924,000 after buying an additional 830,405 shares in the last quarter. Finally, Granite Bay Wealth Management LLC increased its position in Amgen by 9,058.1% during the 2nd quarter. Granite Bay Wealth Management LLC now owns 756,460 shares of the medical research company’s stock worth $223,897,000 after buying an additional 748,200 shares during the period. 76.50% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Sanford C. Bernstein began coverage on shares of Amgen in a research report on Thursday. They issued an “outperform” rating and a $380.00 target price for the company. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $305.00 target price (down previously from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. Oppenheimer reiterated an “outperform” rating and issued a $380.00 price target on shares of Amgen in a research note on Wednesday, August 7th. Dbs Bank upgraded Amgen to a “strong-buy” rating in a research note on Monday, September 16th. Finally, Wells Fargo & Company lowered Amgen from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $320.00 to $335.00 in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $329.48.

Amgen Trading Up 0.1 %

AMGN opened at $321.66 on Friday. The company’s 50 day moving average price is $326.07 and its two-hundred day moving average price is $311.90. The firm has a market capitalization of $172.55 billion, a price-to-earnings ratio of 45.95, a PEG ratio of 2.86 and a beta of 0.61. Amgen Inc. has a fifty-two week low of $249.70 and a fifty-two week high of $346.85. The company has a debt-to-equity ratio of 9.64, a current ratio of 1.26 and a quick ratio of 0.89.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data 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). The company had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.35 billion. Amgen had a net margin of 10.12% and a return on equity of 161.72%. The business’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $5.00 earnings per share. As a group, research analysts predict that Amgen Inc. will post 19.49 earnings per share for the current year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date was Friday, August 16th. Amgen’s dividend payout ratio is currently 128.57%.

About Amgen

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.