Amgen Inc. (NASDAQ:AMGN) Position Lowered by HF Advisory Group LLC

HF Advisory Group LLC trimmed its position in Amgen Inc. (NASDAQ:AMGN) by 9.9% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,961 shares of the medical research company’s stock after selling 215 shares during the period. HF Advisory Group LLC’s holdings in Amgen were worth $632,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cornerstone Capital Inc. raised its position in shares of Amgen by 3.2% during the 3rd quarter. Cornerstone Capital Inc. now owns 106,538 shares of the medical research company’s stock valued at $34,328,000 after acquiring an additional 3,260 shares in the last quarter. Austin Private Wealth LLC increased its stake in Amgen by 131.6% during the third quarter. Austin Private Wealth LLC now owns 2,381 shares of the medical research company’s stock valued at $767,000 after purchasing an additional 1,353 shares during the last quarter. Crestwood Advisors Group LLC raised its holdings in shares of Amgen by 0.5% during the third quarter. Crestwood Advisors Group LLC now owns 10,515 shares of the medical research company’s stock worth $3,388,000 after purchasing an additional 55 shares during the period. NorthRock Partners LLC lifted its position in shares of Amgen by 1.1% in the 3rd quarter. NorthRock Partners LLC now owns 4,228 shares of the medical research company’s stock worth $1,362,000 after buying an additional 45 shares during the last quarter. Finally, Global Wealth Management Investment Advisory Inc. boosted its holdings in shares of Amgen by 0.8% in the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 5,429 shares of the medical research company’s stock valued at $1,749,000 after buying an additional 41 shares during the period. 76.50% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $305.00 price objective (down previously from $310.00) on shares of Amgen in a research note on Wednesday, August 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $362.00 price target on shares of Amgen in a research report on Thursday, September 26th. Cantor Fitzgerald restated an “overweight” rating and set a $405.00 price objective on shares of Amgen in a research report on Tuesday, October 22nd. Robert W. Baird restated an “underperform” rating and set a $215.00 price objective on shares of Amgen in a research note on Wednesday, September 25th. Finally, Truist Financial cut Amgen from a “buy” rating to a “hold” rating and raised their target price for the company from $320.00 to $333.00 in a research note on Monday, October 14th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $333.50.

Amgen Price Performance

Shares of NASDAQ:AMGN opened at $319.29 on Wednesday. The stock’s 50 day moving average price is $324.12 and its 200 day moving average price is $316.64. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. The stock has a market cap of $171.56 billion, a price-to-earnings ratio of 40.88, a PEG ratio of 2.81 and a beta of 0.60. Amgen Inc. has a 12 month low of $260.52 and a 12 month high of $346.85.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping analysts’ consensus estimates of $5.11 by $0.47. The company had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The company’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.96 EPS. Equities research analysts anticipate that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be paid a $2.25 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $9.00 annualized dividend and a dividend yield of 2.82%. Amgen’s dividend payout ratio is currently 115.24%.

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.