Salomon & Ludwin LLC Lowers Position in Amgen Inc. (NASDAQ:AMGN)

Salomon & Ludwin LLC decreased its position in Amgen Inc. (NASDAQ:AMGN) by 10.9% in the third quarter, Holdings Channel.com reports. The firm owned 457 shares of the medical research company’s stock after selling 56 shares during the quarter. Salomon & Ludwin LLC’s holdings in Amgen were worth $147,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AMGN. Mirador Capital Partners LP lifted its holdings in shares of Amgen by 39.3% during the first quarter. Mirador Capital Partners LP now owns 2,076 shares of the medical research company’s stock valued at $590,000 after purchasing an additional 586 shares during the last quarter. Miracle Mile Advisors LLC grew its stake in shares of Amgen by 6.6% in the first quarter. Miracle Mile Advisors LLC now owns 4,914 shares of the medical research company’s stock worth $1,397,000 after acquiring an additional 303 shares during the last quarter. Tributary Capital Management LLC increased its holdings in shares of Amgen by 30.7% during the first quarter. Tributary Capital Management LLC now owns 2,173 shares of the medical research company’s stock valued at $618,000 after acquiring an additional 510 shares in the last quarter. Cullinan Associates Inc. raised its position in shares of Amgen by 12.0% in the 1st quarter. Cullinan Associates Inc. now owns 174,620 shares of the medical research company’s stock worth $49,648,000 after purchasing an additional 18,733 shares during the last quarter. Finally, MV Capital Management Inc. grew its position in Amgen by 2.3% during the 1st quarter. MV Capital Management Inc. now owns 7,965 shares of the medical research company’s stock valued at $2,265,000 after purchasing an additional 180 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analyst Ratings Changes

AMGN has been the topic of a number of recent analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $405.00 price target on shares of Amgen in a report on Tuesday, October 22nd. Wells Fargo & Company cut Amgen from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $320.00 to $335.00 in a research note on Wednesday, August 7th. Truist Financial lowered shares of Amgen from a “buy” rating to a “hold” rating and lifted their price target for the stock from $320.00 to $333.00 in a research note on Monday, October 14th. TD Cowen lifted their target price on shares of Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $305.00 price objective (down previously from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $332.55.

Amgen Price Performance

Shares of Amgen stock opened at $316.98 on Monday. The company has a market capitalization of $170.04 billion, a price-to-earnings ratio of 45.28, a PEG ratio of 2.86 and a beta of 0.61. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 9.64. The stock’s 50-day simple moving average is $325.49 and its 200-day simple moving average is $314.10. Amgen Inc. has a 52 week low of $249.70 and a 52 week high of $346.85.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $8.35 billion. During the same period in the prior year, the firm posted $5.00 earnings per share. The firm’s revenue for the quarter was up 20.1% on a year-over-year basis. As a group, analysts expect that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be paid a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.84%. Amgen’s payout ratio 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.