Amgen Inc. (NASDAQ:AMGN) Holdings Lowered by Williams & Novak LLC

Williams & Novak LLC trimmed its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 38.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,304 shares of the medical research company’s stock after selling 817 shares during the quarter. Williams & Novak LLC’s holdings in Amgen were worth $420,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Strategic Financial Concepts LLC purchased a new position in shares of Amgen in the second quarter worth approximately $26,000. Hershey Financial Advisers LLC acquired a new stake in shares of Amgen during the second quarter worth approximately $30,000. nVerses Capital LLC acquired a new stake in shares of Amgen during the second quarter worth approximately $31,000. Bbjs Financial Advisors LLC acquired a new stake in shares of Amgen during the second quarter worth approximately $33,000. Finally, FSA Wealth Management LLC boosted its holdings in shares of Amgen by 182.0% during the first quarter. FSA Wealth Management LLC now owns 141 shares of the medical research company’s stock worth $40,000 after purchasing an additional 91 shares during the period. 76.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on AMGN shares. Robert W. Baird restated an “underperform” rating and set a $215.00 price target on shares of Amgen in a report on Wednesday, September 25th. Morgan Stanley decreased their price target on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a report on Thursday, July 11th. Jefferies Financial Group restated a “buy” rating and set a $380.00 price target (up from $375.00) on shares of Amgen in a report on Wednesday, August 7th. Barclays raised their price target on shares of Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a report on Monday. Finally, Argus lifted their target price on shares of Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. One equities 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 company. According to data from MarketBeat, Amgen has an average rating of “Moderate Buy” and an average target price of $326.30.

Amgen Trading Down 0.7 %

Shares of AMGN stock opened at $317.45 on Tuesday. Amgen Inc. has a 1 year low of $249.70 and a 1 year high of $346.85. The firm’s fifty day simple moving average is $327.28 and its 200 day simple moving average is $309.48. The firm has a market capitalization of $170.29 billion, a P/E ratio of 45.35, a price-to-earnings-growth ratio of 2.98 and a beta of 0.61. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 9.64.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (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 company had revenue of $8.39 billion for the quarter, compared to the consensus estimate of $8.35 billion. During the same period last year, the firm posted $5.00 EPS. The company’s revenue was up 20.1% compared to the same quarter last year. As a group, sell-side analysts predict that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were issued a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.84%. The ex-dividend date was Friday, August 16th. Amgen’s dividend payout ratio (DPR) is presently 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.