Joel Isaacson & Co. LLC Lowers Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Joel Isaacson & Co. LLC lessened its position in Amgen Inc. (NASDAQ:AMGN) by 4.8% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 6,049 shares of the medical research company’s stock after selling 306 shares during the quarter. Joel Isaacson & Co. LLC’s holdings in Amgen were worth $1,949,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Capital Asset Advisory Services LLC grew its stake in Amgen by 18.7% during the 1st quarter. Capital Asset Advisory Services LLC now owns 1,759 shares of the medical research company’s stock worth $475,000 after purchasing an additional 277 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its position in shares of Amgen by 37.4% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 11,642 shares of the medical research company’s stock worth $3,310,000 after buying an additional 3,168 shares in the last quarter. Griffin Asset Management Inc. increased its stake in shares of Amgen by 12.3% during the first quarter. Griffin Asset Management Inc. now owns 911 shares of the medical research company’s stock worth $259,000 after buying an additional 100 shares during the period. Symphony Financial Ltd. Co. raised its holdings in Amgen by 3.5% in the first quarter. Symphony Financial Ltd. Co. now owns 8,260 shares of the medical research company’s stock valued at $2,349,000 after acquiring an additional 277 shares in the last quarter. Finally, Brown Miller Wealth Management LLC lifted its stake in Amgen by 1.1% in the first quarter. Brown Miller Wealth Management LLC now owns 6,703 shares of the medical research company’s stock worth $1,905,000 after acquiring an additional 71 shares during the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on AMGN shares. Cantor Fitzgerald restated an “overweight” rating and issued a $405.00 price objective on shares of Amgen in a report on Tuesday. Sanford C. Bernstein initiated coverage on Amgen in a research report on Thursday, October 17th. They set an “outperform” rating and a $380.00 price objective for the company. TD Cowen raised their target price on Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $305.00 price target (down from $310.00) on shares of Amgen in a report on Wednesday, August 7th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $362.00 price target on shares of Amgen in a research note on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Amgen presently has an average rating of “Moderate Buy” and an average price target of $332.55.

Amgen Stock Performance

Shares of NASDAQ AMGN opened at $316.98 on Friday. Amgen Inc. has a 12 month low of $249.70 and a 12 month high of $346.85. The business’s 50 day moving average is $325.49 and its two-hundred day moving average is $313.47. The company has a market cap of $170.04 billion, a P/E ratio of 45.28, a P/E/G 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.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data 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 company had revenue of $8.39 billion during the quarter, compared to the consensus estimate of $8.35 billion. Amgen had a net margin of 10.12% and a return on equity of 161.72%. The company’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $5.00 earnings per share. On average, equities analysts expect that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Dividend Announcement

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