Mill Creek Capital Advisors LLC Sells 371 Shares of Amgen Inc. (NASDAQ:AMGN)

Mill Creek Capital Advisors LLC reduced its stake in Amgen Inc. (NASDAQ:AMGN) by 9.0% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 3,744 shares of the medical research company’s stock after selling 371 shares during the quarter. Mill Creek Capital Advisors LLC’s holdings in Amgen were worth $1,206,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of AMGN. Capital Performance Advisors LLP bought a new position in Amgen in the third quarter valued at about $25,000. Strategic Financial Concepts LLC bought a new position in Amgen in the 2nd quarter valued at approximately $26,000. Hershey Financial Advisers LLC bought a new stake in shares of Amgen during the second quarter worth $30,000. nVerses Capital LLC acquired a new position in shares of Amgen during the second quarter worth $31,000. Finally, Bbjs Financial Advisors LLC bought a new position in shares of Amgen in the 2nd quarter valued at $33,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Price Performance

Shares of NASDAQ AMGN opened at $283.61 on Friday. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. The firm’s 50-day simple moving average is $320.85 and its 200 day simple moving average is $318.36. The stock has a market cap of $152.45 billion, a price-to-earnings ratio of 36.31, a PEG ratio of 2.69 and a beta of 0.60. Amgen Inc. has a fifty-two week low of $260.52 and a fifty-two week high of $346.85.

Amgen (NASDAQ:AMGN) last announced its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The company had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.50 billion. During the same quarter in the previous year, the firm earned $4.96 earnings per share. Amgen’s quarterly revenue was up 23.2% on a year-over-year basis. As a group, research analysts anticipate that Amgen Inc. will post 19.51 earnings per share for the current fiscal year.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 3.17%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s dividend payout ratio (DPR) is presently 115.24%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $305.00 target price (down previously from $310.00) on shares of Amgen in a report on Wednesday, August 7th. William Blair restated an “outperform” rating on shares of Amgen in a research report on Tuesday, November 12th. Cantor Fitzgerald reiterated an “overweight” rating and set a $405.00 price target on shares of Amgen in a report on Tuesday, October 22nd. Robert W. Baird reaffirmed an “underperform” rating and set a $215.00 target price on shares of Amgen in a research report on Wednesday, September 25th. Finally, Truist Financial cut Amgen from a “buy” rating to a “hold” rating and increased their price target for the company from $320.00 to $333.00 in a research note on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $333.57.

Amgen 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.