Amgen Inc. (NASDAQ:AMGN) Position Cut by Keudell Morrison Wealth Management

Keudell Morrison Wealth Management trimmed its holdings in Amgen Inc. (NASDAQ:AMGN) by 7.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,046 shares of the medical research company’s stock after selling 309 shares during the quarter. Keudell Morrison Wealth Management’s holdings in Amgen were worth $1,304,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Strategic Financial Concepts LLC acquired a new stake in Amgen in the second quarter worth approximately $26,000. Hershey Financial Advisers LLC acquired a new stake in shares of Amgen during the 2nd quarter valued at $30,000. nVerses Capital LLC acquired a new stake in shares of Amgen during the 2nd quarter valued at $31,000. Bbjs Financial Advisors LLC purchased a new stake in shares of Amgen in the second quarter valued at $33,000. Finally, Matrix Trust Co acquired a new position in shares of Amgen in the third quarter worth $36,000. 76.50% of the stock is owned by institutional investors.

Amgen Stock Down 0.6 %

NASDAQ AMGN traded down $1.79 on Thursday, reaching $320.00. The company had a trading volume of 147,390 shares, compared to its average volume of 2,400,711. The firm has a market capitalization of $171.95 billion, a price-to-earnings ratio of 41.20, a price-to-earnings-growth ratio of 2.81 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 Inc. has a 1-year low of $260.52 and a 1-year high of $346.85. The company’s fifty day moving average is $323.96 and its 200-day moving average is $316.68.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping analysts’ consensus estimates of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The company had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.50 billion. During the same period in the prior year, the business posted $4.96 EPS. The company’s quarterly revenue was up 23.2% on a year-over-year basis. On average, research analysts forecast that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be issued a $2.25 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.81%. Amgen’s payout ratio is 115.24%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on AMGN shares. Wells Fargo & Company downgraded shares of Amgen from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $320.00 to $335.00 in a research note on Wednesday, August 7th. Sanford C. Bernstein started coverage on shares of Amgen in a research note on Thursday, October 17th. They issued an “outperform” rating and a $380.00 price target on the stock. Truist Financial downgraded shares of Amgen from a “buy” rating to a “hold” rating and upped their price target for the stock from $320.00 to $333.00 in a research note on Monday, October 14th. Cantor Fitzgerald reissued an “overweight” rating and set a $405.00 target price on shares of Amgen in a research report on Tuesday, October 22nd. Finally, Dbs Bank raised shares of 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 given a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $333.50.

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.