Amgen Inc. (NASDAQ:AMGN) Shares Sold by International Private Wealth Advisors LLC

International Private Wealth Advisors LLC cut its holdings in Amgen Inc. (NASDAQ:AMGN) by 6.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 840 shares of the medical research company’s stock after selling 56 shares during the quarter. International Private Wealth Advisors LLC’s holdings in Amgen were worth $271,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Intelligence Driven Advisers LLC lifted its stake in shares of Amgen by 48.5% in the 3rd quarter. Intelligence Driven Advisers LLC now owns 964 shares of the medical research company’s stock worth $310,000 after acquiring an additional 315 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its position in Amgen by 5.1% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 15,412 shares of the medical research company’s stock valued at $4,966,000 after purchasing an additional 749 shares during the period. Unionview LLC boosted its holdings in Amgen by 3.8% in the 3rd quarter. Unionview LLC now owns 876 shares of the medical research company’s stock valued at $282,000 after purchasing an additional 32 shares in the last quarter. Metis Global Partners LLC raised its stake in shares of Amgen by 2.6% during the 3rd quarter. Metis Global Partners LLC now owns 25,755 shares of the medical research company’s stock worth $8,299,000 after buying an additional 657 shares in the last quarter. Finally, Planning Capital Management Corp boosted its stake in shares of Amgen by 8.7% in the third quarter. Planning Capital Management Corp now owns 665 shares of the medical research company’s stock valued at $214,000 after buying an additional 53 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Stock Performance

Shares of AMGN traded down $8.51 during mid-day trading on Thursday, hitting $292.93. The stock had a trading volume of 553,385 shares, compared to its average volume of 2,427,400. Amgen Inc. has a fifty-two week low of $260.52 and a fifty-two week high of $346.85. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. The company has a market cap of $157.46 billion, a PE ratio of 38.60, a PEG ratio of 2.67 and a beta of 0.60. The company’s fifty day simple moving average is $322.15 and its two-hundred day simple moving average is $318.15.

Amgen (NASDAQ:AMGN) last issued its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.11 by $0.47. The firm had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. Amgen’s revenue was up 23.2% on a year-over-year basis. During the same quarter last year, the company posted $4.96 earnings per share. On average, equities analysts expect that Amgen Inc. will post 19.51 earnings per share for the current year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 18th will be given a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 3.07%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s dividend payout ratio (DPR) is 115.24%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on AMGN shares. Jefferies Financial Group reiterated a “buy” rating and set a $380.00 price target on shares of Amgen in a research report on Tuesday. TD Cowen upped 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. Truist Financial downgraded Amgen from a “buy” rating to a “hold” rating and lifted their price target for the stock from $320.00 to $333.00 in a research note on Monday, October 14th. Bank of America boosted their price objective on shares of Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Finally, Barclays lifted their target price 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. One analyst has rated the stock with a sell rating, twelve have given a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $333.57.

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.