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

TRUE Private Wealth Advisors reduced its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 69.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 841 shares of the medical research company’s stock after selling 1,938 shares during the period. TRUE Private Wealth Advisors’ holdings in Amgen were worth $271,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Captrust Financial Advisors increased its holdings in shares of Amgen by 2.5% in the third quarter. Captrust Financial Advisors now owns 583,626 shares of the medical research company’s stock valued at $188,050,000 after purchasing an additional 14,253 shares during the period. Rockefeller Capital Management L.P. boosted its position in Amgen by 1.1% in the third quarter. Rockefeller Capital Management L.P. now owns 452,590 shares of the medical research company’s stock valued at $145,800,000 after buying an additional 4,901 shares during the last quarter. Providence Wealth Advisors LLC increased its holdings in Amgen by 2.0% in the 3rd quarter. Providence Wealth Advisors LLC now owns 5,521 shares of the medical research company’s stock worth $1,745,000 after buying an additional 110 shares during the period. Vinva Investment Management Ltd raised its position in Amgen by 50.6% during the 3rd quarter. Vinva Investment Management Ltd now owns 21,613 shares of the medical research company’s stock worth $6,974,000 after buying an additional 7,264 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Amgen by 6.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,442,543 shares of the medical research company’s stock valued at $1,431,432,000 after acquiring an additional 264,396 shares during the period. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Price Performance

Amgen stock opened at $282.87 on Friday. The company has a fifty day simple moving average of $311.37 and a 200-day simple moving average of $317.18. The firm has a market capitalization of $152.05 billion, a price-to-earnings ratio of 36.22, a PEG ratio of 2.50 and a beta of 0.60. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. Amgen Inc. has a 52-week low of $257.80 and a 52-week high of $346.85.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data 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 net margin of 13.00% and a return on equity of 168.35%. The company had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. During the same quarter in the prior year, the company earned $4.96 EPS. Amgen’s revenue was up 23.2% compared to the same quarter last year. On average, equities analysts anticipate that Amgen Inc. will post 19.52 EPS for the current fiscal year.

Amgen Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 18th will be paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s dividend payout ratio (DPR) is presently 115.24%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Wells Fargo & Company cut Amgen from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $320.00 to $335.00 in a report on Wednesday, August 7th. UBS Group decreased their price target on Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Sanford C. Bernstein initiated coverage on shares of Amgen in a research note on Thursday, October 17th. They set an “outperform” rating and a $380.00 price objective on the stock. Robert W. Baird reaffirmed an “underperform” rating and set a $215.00 target price on shares of Amgen in a report on Wednesday, September 25th. Finally, TD Cowen increased their price target on shares of Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a report on Monday, October 21st. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $323.05.

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.