Amgen Inc. (NASDAQ:AMGN) Stock Position Trimmed by Smallwood Wealth Investment Management LLC

Smallwood Wealth Investment Management LLC cut its position in Amgen Inc. (NASDAQ:AMGN) by 15.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 906 shares of the medical research company’s stock after selling 170 shares during the quarter. Smallwood Wealth Investment Management LLC’s holdings in Amgen were worth $292,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of AMGN. Strategic Financial Concepts LLC bought a new stake in Amgen in the 2nd quarter valued at about $26,000. Hershey Financial Advisers LLC bought a new stake in Amgen in the 2nd quarter valued at about $30,000. nVerses Capital LLC bought a new stake in Amgen in the 2nd quarter valued at about $31,000. Bbjs Financial Advisors LLC bought a new stake in shares of Amgen during the 2nd quarter worth about $33,000. Finally, Matrix Trust Co bought a new stake in shares of Amgen during the 3rd quarter worth about $36,000. 76.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

AMGN has been the topic of a number of recent analyst reports. Truist Financial downgraded shares of Amgen from a “buy” rating to a “hold” rating and boosted their price target for the stock from $320.00 to $333.00 in a research report on Monday. Cantor Fitzgerald initiated coverage on shares of Amgen in a research report on Friday, September 27th. They set an “overweight” rating and a $405.00 price target on the stock. Barclays boosted their price target on shares of Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $305.00 price target (down from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. Finally, Dbs Bank upgraded shares of Amgen to a “strong-buy” rating in a research report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Amgen presently has a consensus rating of “Moderate Buy” and an average price target of $329.48.

Amgen Stock Performance

Amgen stock opened at $321.33 on Friday. The firm’s 50 day simple moving average is $326.08 and its 200-day simple moving average is $311.63. The company has a market cap of $172.37 billion, a P/E ratio of 45.90, a price-to-earnings-growth ratio of 2.86 and a beta of 0.61. The company has a debt-to-equity ratio of 9.64, a current ratio of 1.26 and a quick ratio of 0.89. Amgen Inc. has a fifty-two week low of $249.70 and a fifty-two week high of $346.85.

Amgen (NASDAQ:AMGN) last released 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). The firm had revenue of $8.39 billion during the quarter, compared to analysts’ expectations of $8.35 billion. Amgen had a return on equity of 161.72% and a net margin of 10.12%. The business’s revenue was up 20.1% on a year-over-year basis. During the same period last year, the business earned $5.00 earnings per share. As a group, equities research analysts predict that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were given a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.80%. The ex-dividend date was Friday, August 16th. Amgen’s dividend payout ratio (DPR) is currently 128.57%.

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.