Amgen Inc. (NASDAQ:AMGN) Shares Sold by Beacon Harbor Wealth Advisors Inc.

Beacon Harbor Wealth Advisors Inc. lowered its position in Amgen Inc. (NASDAQ:AMGN) by 6.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,993 shares of the medical research company’s stock after selling 910 shares during the period. Beacon Harbor Wealth Advisors Inc.’s holdings in Amgen were worth $3,742,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Clear Creek Financial Management LLC purchased a new stake in Amgen in the 3rd quarter valued at approximately $215,000. Raymond James Financial Services Advisors Inc. lifted its stake in Amgen by 0.7% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 445,611 shares of the medical research company’s stock valued at $119,762,000 after buying an additional 3,009 shares in the last quarter. Simon Quick Advisors LLC lifted its stake in Amgen by 17.1% in the 3rd quarter. Simon Quick Advisors LLC now owns 2,050 shares of the medical research company’s stock valued at $551,000 after buying an additional 300 shares in the last quarter. Stratos Wealth Partners LTD. lifted its stake in Amgen by 20.3% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 23,966 shares of the medical research company’s stock valued at $6,441,000 after buying an additional 4,050 shares in the last quarter. Finally, Independent Advisor Alliance lifted its stake in Amgen by 4.4% in the 3rd quarter. Independent Advisor Alliance now owns 22,741 shares of the medical research company’s stock valued at $6,112,000 after buying an additional 967 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on AMGN. TD Cowen reduced their target price on Amgen from $370.00 to $360.00 and set a “buy” rating on the stock in a research note on Wednesday, April 17th. Royal Bank of Canada reissued an “outperform” rating and set a $329.00 price target on shares of Amgen in a research note on Wednesday, April 3rd. Morgan Stanley dropped their price objective on Amgen from $281.00 to $278.00 and set an “equal weight” rating for the company in a report on Wednesday, February 7th. Oppenheimer reaffirmed an “outperform” rating and set a $350.00 price target on shares of Amgen in a research report on Thursday, February 1st. Finally, UBS Group cut their target price on shares of Amgen from $314.00 to $284.00 and set a “neutral” rating on the stock in a report on Wednesday, April 17th. Ten investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Amgen presently has an average rating of “Moderate Buy” and a consensus target price of $297.40.

Amgen Stock Down 0.1 %

Shares of NASDAQ AMGN traded down $0.33 during midday trading on Thursday, hitting $277.04. The stock had a trading volume of 1,254,057 shares, compared to its average volume of 2,791,824. The business’s 50 day moving average is $274.64 and its 200-day moving average is $281.35. The company has a market cap of $148.60 billion, a P/E ratio of 22.11, a PEG ratio of 2.65 and a beta of 0.60. Amgen Inc. has a 52 week low of $211.71 and a 52 week high of $329.72. The company has a quick ratio of 1.13, a current ratio of 1.65 and a debt-to-equity ratio of 10.14.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, February 6th. The medical research company reported $4.71 EPS for the quarter, beating analysts’ consensus estimates of $4.66 by $0.05. The business had revenue of $8.20 billion during the quarter, compared to analysts’ expectations of $8.13 billion. Amgen had a net margin of 23.83% and a return on equity of 154.27%. The firm’s revenue was up 19.8% on a year-over-year basis. During the same period in the prior year, the company earned $4.09 earnings per share. As a group, analysts predict that Amgen Inc. will post 19.43 EPS for the current year.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be given a $2.25 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.25%. Amgen’s payout ratio is currently 72.06%.

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.