Amgen Inc. (NASDAQ:AMGN) Holdings Lowered by Harbor Investment Advisory LLC

Harbor Investment Advisory LLC trimmed its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 1.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 24,312 shares of the medical research company’s stock after selling 300 shares during the period. Amgen comprises approximately 0.7% of Harbor Investment Advisory LLC’s investment portfolio, making the stock its 25th biggest position. Harbor Investment Advisory LLC’s holdings in Amgen were worth $7,833,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of AMGN. Hershey Financial Advisers LLC bought a new stake in Amgen in the second quarter worth approximately $30,000. Horizon Financial Services LLC acquired a new position in Amgen during the first quarter worth $28,000. nVerses Capital LLC bought a new position in Amgen during the second quarter valued at about $31,000. Bbjs Financial Advisors LLC acquired a new stake in shares of Amgen in the second quarter worth about $33,000. Finally, FSA Wealth Management LLC boosted its stake in shares of Amgen by 182.0% during the 1st quarter. FSA Wealth Management LLC now owns 141 shares of the medical research company’s stock worth $40,000 after acquiring an additional 91 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on AMGN shares. TD Cowen raised their price objective on Amgen from $360.00 to $381.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Morgan Stanley decreased their price target on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 11th. Royal Bank of Canada reissued an “outperform” rating and issued a $362.00 target price on shares of Amgen in a report on Thursday, September 26th. Cantor Fitzgerald started coverage on shares of Amgen in a research report on Friday, September 27th. They issued an “overweight” rating and a $405.00 price target on the stock. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $380.00 price objective on shares of Amgen in a report on Wednesday, August 7th. 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $325.55.

Amgen Trading Up 0.7 %

Amgen stock traded up $2.18 during midday trading on Friday, hitting $319.66. 1,467,846 shares of the stock were exchanged, compared to its average volume of 2,495,004. Amgen Inc. has a 52 week low of $249.70 and a 52 week high of $346.85. 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 has a market capitalization of $171.48 billion, a PE ratio of 45.67, a P/E/G ratio of 2.98 and a beta of 0.61. The company has a fifty day simple moving average of $327.28 and a two-hundred day simple moving average of $308.96.

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

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were paid a dividend of $2.25 per share. The ex-dividend date was Friday, August 16th. This represents a $9.00 dividend on an annualized basis and a yield of 2.82%. Amgen’s payout ratio is 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.