Amgen Inc. (NASDAQ:AMGN) Shares Sold by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC lessened its holdings in Amgen Inc. (NASDAQ:AMGN) by 5.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,139 shares of the medical research company’s stock after selling 813 shares during the period. Verdence Capital Advisors LLC’s holdings in Amgen were worth $4,234,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Rovin Capital UT ADV acquired a new position in Amgen in the 3rd quarter valued at about $210,000. Executive Wealth Management LLC purchased a new stake in shares of Amgen during the third quarter worth about $7,880,000. Washington Trust Advisors Inc. raised its position in shares of Amgen by 10.5% in the third quarter. Washington Trust Advisors Inc. now owns 1,335 shares of the medical research company’s stock valued at $430,000 after buying an additional 127 shares during the last quarter. Crumly & Associates Inc. lifted its stake in shares of Amgen by 11.2% during the third quarter. Crumly & Associates Inc. now owns 970 shares of the medical research company’s stock valued at $313,000 after buying an additional 98 shares during the period. Finally, Windward Capital Management Co. CA boosted its position in Amgen by 2.6% during the third quarter. Windward Capital Management Co. CA now owns 22,239 shares of the medical research company’s stock worth $7,166,000 after acquiring an additional 556 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Stock Performance

Amgen stock opened at $325.28 on Friday. Amgen Inc. has a 12-month low of $260.52 and a 12-month high of $346.85. 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 company has a market capitalization of $174.85 billion, a price-to-earnings ratio of 41.65, a price-to-earnings-growth ratio of 2.79 and a beta of 0.60. The firm’s fifty day moving average price is $323.61 and its 200 day moving average price is $317.08.

Amgen (NASDAQ:AMGN) last announced its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The business had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. During the same period in the previous year, the company earned $4.96 earnings per share. The company’s revenue for the quarter was up 23.2% compared to the same quarter last year. On average, research analysts forecast that Amgen Inc. will post 19.51 EPS for the current fiscal year.

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date is Monday, November 18th. Amgen’s payout ratio is currently 115.24%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on AMGN shares. Royal Bank of Canada reissued an “outperform” rating and set a $362.00 price target on shares of Amgen in a research note on Thursday, September 26th. Oppenheimer restated an “outperform” rating and issued a $380.00 target price on shares of Amgen in a report on Wednesday, August 7th. Bank of America increased their price target on shares of Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $405.00 target price on shares of Amgen in a research report on Tuesday, October 22nd. Finally, Dbs Bank raised Amgen to a “strong-buy” rating in a research report on Monday, September 16th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Amgen has an average rating of “Moderate Buy” and a consensus target price of $333.50.

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.