Icon Wealth Advisors LLC Sells 1,882 Shares of Amgen Inc. (NASDAQ:AMGN)

Icon Wealth Advisors LLC trimmed its stake in Amgen Inc. (NASDAQ:AMGN) by 43.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,410 shares of the medical research company’s stock after selling 1,882 shares during the period. Icon Wealth Advisors LLC’s holdings in Amgen were worth $777,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in AMGN. Old Port Advisors lifted its holdings in shares of Amgen by 4.3% during the 1st quarter. Old Port Advisors now owns 1,162 shares of the medical research company’s stock valued at $330,000 after purchasing an additional 48 shares during the last quarter. Jackson Wealth Management LLC purchased a new stake in shares of Amgen in the 2nd quarter valued at $1,026,000. Transcend Capital Advisors LLC increased its stake in shares of Amgen by 3.8% in the second quarter. Transcend Capital Advisors LLC now owns 11,107 shares of the medical research company’s stock worth $3,471,000 after acquiring an additional 404 shares during the period. Davis Capital Management raised its holdings in shares of Amgen by 1.1% during the second quarter. Davis Capital Management now owns 5,791 shares of the medical research company’s stock worth $1,801,000 after purchasing an additional 61 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in Amgen by 109.8% during the second quarter. GAMMA Investing LLC now owns 8,290 shares of the medical research company’s stock valued at $2,590,000 after purchasing an additional 4,338 shares during the period. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Trading Up 1.0 %

Shares of AMGN stock opened at $282.87 on Friday. Amgen Inc. has a fifty-two week low of $257.80 and a fifty-two week high of $346.85. The company has a 50 day moving average price of $311.37 and a 200 day moving average price of $317.14. The stock has a market capitalization of $152.05 billion, a P/E ratio of 36.22, a price-to-earnings-growth ratio of 2.50 and a beta of 0.60. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping the consensus estimate of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The business had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.50 billion. During the same quarter in the previous year, the firm posted $4.96 earnings per share. The company’s quarterly revenue was up 23.2% compared to the same quarter last year. Equities research analysts predict that Amgen Inc. will post 19.52 EPS for the current fiscal year.

Amgen Dividend Announcement

The business 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. This represents a $9.00 annualized dividend and a dividend yield of 3.18%. The ex-dividend date is Monday, November 18th. Amgen’s payout ratio is presently 115.24%.

Analysts Set New Price Targets

AMGN has been the subject of several recent research reports. Wolfe Research began coverage on Amgen in a research report on Friday, November 15th. They set a “peer perform” rating for the company. Jefferies Financial Group restated a “buy” rating and issued a $380.00 price target on shares of Amgen in a research note on Tuesday, November 12th. Redburn Partners reduced their price objective on shares of Amgen from $200.00 to $195.00 in a research report on Wednesday. Barclays lifted their price target on Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Finally, Bank of America upped their price objective on shares of Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Amgen currently has an average rating of “Hold” and an average price target of $323.05.

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.