Harbor Investment Advisory LLC Sells 300 Shares of Amgen Inc. (NASDAQ:AMGN)

Harbor Investment Advisory LLC decreased its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 1.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,312 shares of the medical research company’s stock after selling 300 shares during the quarter. Amgen makes up about 0.7% of Harbor Investment Advisory LLC’s investment portfolio, making the stock its 25th biggest holding. Harbor Investment Advisory LLC’s holdings in Amgen were worth $7,833,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in AMGN. Strategic Financial Concepts LLC acquired a new position in shares of Amgen during the 2nd quarter worth about $26,000. Horizon Financial Services LLC bought a new position in Amgen during the first quarter worth about $28,000. Hershey Financial Advisers LLC acquired a new position in Amgen during the second quarter worth approximately $30,000. nVerses Capital LLC bought a new stake in Amgen in the second quarter valued at approximately $31,000. Finally, Bbjs Financial Advisors LLC acquired a new stake in Amgen during the 2nd quarter valued at $33,000. Institutional investors own 76.50% of the company’s stock.

Amgen Stock Up 0.7 %

Shares of AMGN stock traded up $2.18 during trading hours on Friday, reaching $319.66. The company had a trading volume of 1,467,846 shares, compared to its average volume of 2,495,004. The company has a market cap of $171.48 billion, a price-to-earnings ratio of 45.67, a price-to-earnings-growth ratio of 2.98 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. Amgen Inc. has a 12 month low of $249.70 and a 12 month high of $346.85. The business has a fifty day simple moving average of $327.28 and a 200-day simple moving average of $308.96.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 earnings per share for the quarter, missing the consensus estimate of $5.01 by ($0.04). Amgen had a net margin of 10.12% and a return on equity of 161.72%. The company had revenue of $8.39 billion for the quarter, compared to the consensus estimate of $8.35 billion. During the same quarter last year, the business posted $5.00 earnings per share. Amgen’s revenue was up 20.1% on a year-over-year basis. On average, research analysts expect that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were given a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s payout ratio is 128.57%.

Wall Street Analyst Weigh In

AMGN has been the subject of a number of analyst reports. Morgan Stanley dropped their price target on Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a research note on Thursday, July 11th. Dbs Bank upgraded shares of Amgen to a “strong-buy” rating in a research report on Monday, September 16th. Oppenheimer restated an “outperform” rating and set a $380.00 price objective on shares of Amgen in a research report on Wednesday, August 7th. Bank of America lifted their price target on Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Finally, Wells Fargo & Company lowered Amgen from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $320.00 to $335.00 in a research note on Wednesday, August 7th. 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’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $325.55.

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.