Amgen Inc. (NASDAQ:AMGN) Shares Sold by HBW Advisory Services LLC

HBW Advisory Services LLC lowered its stake in Amgen Inc. (NASDAQ:AMGN) by 6.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 8,471 shares of the medical research company’s stock after selling 559 shares during the quarter. HBW Advisory Services LLC’s holdings in Amgen were worth $2,729,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Keynote Financial Services LLC raised its stake in shares of Amgen by 0.6% in the second quarter. Keynote Financial Services LLC now owns 4,898 shares of the medical research company’s stock valued at $1,530,000 after acquiring an additional 30 shares in the last quarter. Ascent Group LLC boosted its holdings in shares of Amgen by 0.3% in the second quarter. Ascent Group LLC now owns 10,949 shares of the medical research company’s stock valued at $3,421,000 after acquiring an additional 31 shares during the period. RFP Financial Group LLC boosted its stake in Amgen by 17.1% during the 1st quarter. RFP Financial Group LLC now owns 219 shares of the medical research company’s stock worth $62,000 after purchasing an additional 32 shares during the period. Hofer & Associates. Inc raised its holdings in shares of Amgen by 0.5% in the second quarter. Hofer & Associates. Inc now owns 6,477 shares of the medical research company’s stock valued at $2,024,000 after buying an additional 32 shares during the last quarter. Finally, Blossom Wealth Management increased its position in Amgen by 3.3% in the 2nd quarter. Blossom Wealth Management now owns 1,023 shares of the medical research company’s stock valued at $320,000 after acquiring an additional 33 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Argus lifted their price objective on Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Jefferies Financial Group reissued a “buy” rating and issued a $380.00 target price (up previously from $375.00) on shares of Amgen in a report on Wednesday, August 7th. Bank of America lifted their price target on Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Cantor Fitzgerald assumed coverage on shares of Amgen in a report on Friday, September 27th. They set an “overweight” rating and a $405.00 target price for the company. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $362.00 price objective on shares of Amgen in a research report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $325.55.

Amgen Stock Up 0.5 %

Shares of AMGN stock traded up $1.62 during trading on Friday, reaching $319.10. The company’s stock had a trading volume of 550,797 shares, compared to its average volume of 2,490,229. The company has a market cap of $171.18 billion, a price-to-earnings ratio of 45.35, a price-to-earnings-growth ratio of 2.98 and a beta of 0.61. Amgen Inc. has a one year low of $249.70 and a one year high of $346.85. The business has a fifty day moving average price of $327.58 and a 200-day moving average price of $308.62. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 9.64.

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 analysts’ consensus estimates of $5.01 by ($0.04). Amgen had a return on equity of 161.72% and a net margin of 10.12%. The business had revenue of $8.39 billion for the quarter, compared to analyst estimates of $8.35 billion. During the same quarter in the prior year, the company earned $5.00 earnings per share. The company’s quarterly revenue was up 20.1% on a year-over-year basis. Analysts anticipate that Amgen Inc. will post 19.49 earnings per share for the current year.

Amgen Announces Dividend

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

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.