Stratos Wealth Advisors LLC Reduces Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Stratos Wealth Advisors LLC reduced its position in Amgen Inc. (NASDAQ:AMGN) by 2.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,043 shares of the medical research company’s stock after selling 159 shares during the quarter. Stratos Wealth Advisors LLC’s holdings in Amgen were worth $1,947,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Security Financial Services INC. increased its stake in shares of Amgen by 5.1% in the first quarter. Security Financial Services INC. now owns 968 shares of the medical research company’s stock worth $275,000 after purchasing an additional 47 shares in the last quarter. Northwest Investment Counselors LLC raised its holdings in Amgen by 7.5% during the 1st quarter. Northwest Investment Counselors LLC now owns 3,603 shares of the medical research company’s stock valued at $1,024,000 after acquiring an additional 250 shares during the period. CHICAGO TRUST Co NA lifted its position in shares of Amgen by 6.4% during the first quarter. CHICAGO TRUST Co NA now owns 8,487 shares of the medical research company’s stock worth $2,413,000 after acquiring an additional 513 shares in the last quarter. AdvisorNet Financial Inc lifted its position in shares of Amgen by 5.7% during the first quarter. AdvisorNet Financial Inc now owns 2,206 shares of the medical research company’s stock worth $627,000 after acquiring an additional 119 shares in the last quarter. Finally, Peak Financial Advisors LLC purchased a new position in shares of Amgen in the first quarter valued at $2,827,000. 76.50% of the stock is currently owned by institutional investors.

Amgen Trading Up 0.1 %

Shares of AMGN opened at $321.66 on Friday. Amgen Inc. has a fifty-two week low of $249.70 and a fifty-two week high of $346.85. The firm has a market cap of $172.55 billion, a price-to-earnings ratio of 45.95, a PEG ratio of 2.86 and a beta of 0.61. The firm has a 50 day moving average price of $326.07 and a 200-day moving average price of $312.15. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.89 and a current ratio of 1.26.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results 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). Amgen had a return on equity of 161.72% and a net margin of 10.12%. The business had revenue of $8.39 billion during the quarter, compared to the consensus estimate of $8.35 billion. During the same period in the prior year, the firm earned $5.00 earnings per share. The business’s revenue for the quarter was up 20.1% on a year-over-year basis. As a group, equities research analysts forecast that Amgen Inc. will post 19.49 earnings per share for the current year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were given a dividend of $2.25 per share. The ex-dividend date was Friday, August 16th. This represents a $9.00 annualized dividend and a yield of 2.80%. Amgen’s payout ratio is 128.57%.

Analyst Ratings Changes

AMGN has been the subject of several analyst reports. Argus raised their target price on Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. TD Cowen raised their price objective on shares of Amgen from $360.00 to $381.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Robert W. Baird reaffirmed an “underperform” rating and set a $215.00 price objective on shares of Amgen in a research note on Wednesday, September 25th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $305.00 target price (down from $310.00) on shares of Amgen in a research note on Wednesday, August 7th. Finally, Morgan Stanley reduced their price target on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a research report on Thursday, July 11th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $329.48.

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.