Tyche Wealth Partners LLC Decreases Stake in Amgen Inc. (NASDAQ:AMGN)

Tyche Wealth Partners LLC lowered its stake in Amgen Inc. (NASDAQ:AMGN) by 27.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 2,137 shares of the medical research company’s stock after selling 809 shares during the quarter. Tyche Wealth Partners LLC’s holdings in Amgen were worth $689,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in AMGN. Meyer Handelman Co. increased its holdings in Amgen by 7.2% during the 2nd quarter. Meyer Handelman Co. now owns 129,831 shares of the medical research company’s stock valued at $40,566,000 after purchasing an additional 8,700 shares during the period. Oak Harvest Investment Services boosted its holdings in Amgen by 19.1% in the first quarter. Oak Harvest Investment Services now owns 38,067 shares of the medical research company’s stock valued at $10,823,000 after acquiring an additional 6,116 shares in the last quarter. EP Wealth Advisors LLC raised its holdings in Amgen by 11.0% in the 1st quarter. EP Wealth Advisors LLC now owns 23,769 shares of the medical research company’s stock worth $6,758,000 after purchasing an additional 2,353 shares in the last quarter. BNP Paribas purchased a new stake in shares of Amgen in the 1st quarter worth about $4,772,000. Finally, Stanley Laman Group Ltd. bought a new stake in shares of Amgen during the 2nd quarter valued at about $3,354,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Trading Down 0.2 %

Shares of NASDAQ:AMGN traded down $0.52 during trading on Tuesday, hitting $316.65. The company had a trading volume of 264,083 shares, compared to its average volume of 2,414,684. The stock has a market cap of $169.86 billion, a price-to-earnings ratio of 45.31, a price-to-earnings-growth ratio of 2.86 and a beta of 0.61. The company has a debt-to-equity ratio of 9.64, a current ratio of 1.26 and a quick ratio of 0.89. The company has a fifty day simple moving average of $325.27 and a two-hundred day simple moving average of $314.44. Amgen Inc. has a one year low of $249.70 and a one year high of $346.85.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 EPS for the quarter, missing the consensus estimate of $5.01 by ($0.04). Amgen had a return on equity of 161.72% and a net margin of 10.12%. The firm had revenue of $8.39 billion for the quarter, compared to analysts’ expectations of $8.35 billion. During the same period in the previous year, the firm earned $5.00 earnings per share. The firm’s quarterly revenue was up 20.1% compared to the same quarter last year. As a group, equities analysts forecast that Amgen Inc. will post 19.49 earnings per share for the current year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be issued a dividend of $2.25 per share. The ex-dividend date is Monday, November 18th. This represents a $9.00 annualized dividend and a yield of 2.84%. Amgen’s payout ratio is 128.57%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AMGN. Barclays upped their target price on Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $305.00 price target (down from $310.00) on shares of Amgen in a research note on Wednesday, August 7th. Oppenheimer reaffirmed an “outperform” rating and issued a $380.00 price target on shares of Amgen in a research report on Wednesday, August 7th. Bank of America raised 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. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $362.00 price objective on shares of Amgen in a research report on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $332.55.

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.