GSB Wealth Management LLC Decreases Holdings in Amgen Inc. (NASDAQ:AMGN)

GSB Wealth Management LLC decreased its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 2.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 12,257 shares of the medical research company’s stock after selling 289 shares during the quarter. Amgen comprises approximately 1.0% of GSB Wealth Management LLC’s investment portfolio, making the stock its 24th largest holding. GSB Wealth Management LLC’s holdings in Amgen were worth $3,949,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital International Investors lifted its position in Amgen by 547.8% in the first quarter. Capital International Investors now owns 7,005,269 shares of the medical research company’s stock valued at $1,991,738,000 after acquiring an additional 5,923,915 shares during the last quarter. Pathway Financial Advisers LLC boosted its position in shares of Amgen by 33,125.4% in the 3rd quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock valued at $1,437,115,000 after purchasing an additional 4,446,757 shares during the period. Vanguard Group Inc. grew its stake in Amgen by 6.2% during the 1st quarter. Vanguard Group Inc. now owns 52,088,210 shares of the medical research company’s stock worth $14,809,720,000 after buying an additional 3,045,657 shares during the last quarter. International Assets Investment Management LLC increased its position in Amgen by 6,812.4% during the third quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock worth $8,130,610,000 after buying an additional 2,486,882 shares during the period. Finally, Janus Henderson Group PLC lifted its stake in Amgen by 137.1% in the first quarter. Janus Henderson Group PLC now owns 2,381,133 shares of the medical research company’s stock valued at $676,984,000 after buying an additional 1,377,007 shares during the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

AMGN has been the topic of a number of recent research reports. TD Cowen lifted their target price on shares of Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a report on Monday, October 21st. Barclays lifted their price objective on shares of Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Sanford C. Bernstein began coverage on Amgen in a research report on Thursday, October 17th. They issued an “outperform” rating and a $380.00 price target on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $405.00 target price on shares of Amgen in a research note on Tuesday, October 22nd. Finally, Morgan Stanley dropped their target price on Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a report on Thursday, July 11th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $332.55.

Amgen Stock Performance

Shares of NASDAQ:AMGN opened at $311.80 on Wednesday. The business’s 50-day simple moving average is $325.02 and its 200 day simple moving average is $314.78. The company has a market cap of $167.26 billion, a P/E ratio of 45.14, a PEG ratio of 2.86 and a beta of 0.61. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.89 and a current ratio of 1.26. Amgen Inc. has a one year low of $249.70 and a one year high of $346.85.

Amgen (NASDAQ:AMGN) last announced its earnings results 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 firm had revenue of $8.39 billion during the quarter, compared to analysts’ expectations of $8.35 billion. During the same quarter last year, the company posted $5.00 earnings per share. Amgen’s revenue for the quarter was up 20.1% compared to the same quarter last year. On average, sell-side analysts forecast that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 18th will be paid a dividend of $2.25 per share. The ex-dividend date is Monday, November 18th. This represents a $9.00 dividend on an annualized basis and a yield of 2.89%. Amgen’s dividend payout ratio (DPR) is 128.57%.

About Amgen

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.