Childress Capital Advisors LLC Decreases Position in Amgen Inc. (NASDAQ:AMGN)

Childress Capital Advisors LLC decreased its position in Amgen Inc. (NASDAQ:AMGN) by 4.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 1,895 shares of the medical research company’s stock after selling 87 shares during the period. Childress Capital Advisors LLC’s holdings in Amgen were worth $611,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Lake Street Private Wealth LLC grew its stake in shares of Amgen by 30.4% during the 1st quarter. Lake Street Private Wealth LLC now owns 2,173 shares of the medical research company’s stock worth $618,000 after acquiring an additional 507 shares during the period. Kovack Advisors Inc. lifted its holdings in Amgen by 23.8% during the first quarter. Kovack Advisors Inc. now owns 3,694 shares of the medical research company’s stock valued at $1,050,000 after purchasing an additional 711 shares during the last quarter. First Trust Direct Indexing L.P. boosted its position in Amgen by 13.2% during the first quarter. First Trust Direct Indexing L.P. now owns 10,176 shares of the medical research company’s stock worth $2,893,000 after purchasing an additional 1,184 shares during the period. Core Wealth Partners LLC boosted its position in Amgen by 8.0% during the first quarter. Core Wealth Partners LLC now owns 1,053 shares of the medical research company’s stock worth $299,000 after purchasing an additional 78 shares during the period. Finally, Spinnaker Investment Group LLC increased its stake in shares of Amgen by 1.6% in the first quarter. Spinnaker Investment Group LLC now owns 2,858 shares of the medical research company’s stock worth $813,000 after purchasing an additional 45 shares in the last quarter. 76.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Truist Financial downgraded shares of Amgen from a “buy” rating to a “hold” rating and raised their price objective for the stock from $320.00 to $333.00 in a report on Monday, October 14th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $380.00 price target (up from $375.00) on shares of Amgen in a report on Wednesday, August 7th. Wells Fargo & Company cut Amgen from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $320.00 to $335.00 in a report on Wednesday, August 7th. TD Cowen lifted their target price on Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a report on Monday, October 21st. Finally, Barclays increased 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, October 7th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Amgen has an average rating of “Moderate Buy” and a consensus price target of $332.55.

Amgen Trading Down 0.4 %

Shares of AMGN stock opened at $316.00 on Wednesday. The business has a 50-day moving average of $325.02 and a 200 day moving average of $314.78. 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 1-year low of $249.70 and a 1-year high of $346.85. The stock has a market capitalization of $169.51 billion, a PE ratio of 45.14, a P/E/G ratio of 2.86 and a beta of 0.61.

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 analysts’ consensus estimates of $5.01 by ($0.04). Amgen had a net margin of 10.12% and a return on equity of 161.72%. The company had revenue of $8.39 billion for the quarter, compared to analysts’ expectations of $8.35 billion. During the same period last year, the company posted $5.00 EPS. The business’s revenue for the quarter was up 20.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Amgen Inc. will post 19.49 earnings per share for the current year.

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be issued a dividend of $2.25 per share. The ex-dividend date is Monday, November 18th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.85%. 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.