Amgen Inc. (NASDAQ:AMGN) Shares Sold by King Wealth Management Group

King Wealth Management Group lowered its position in Amgen Inc. (NASDAQ:AMGN) by 7.6% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 6,059 shares of the medical research company’s stock after selling 497 shares during the period. King Wealth Management Group’s holdings in Amgen were worth $1,952,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Capital Performance Advisors LLP purchased a new stake in shares of Amgen during the 3rd quarter valued at approximately $25,000. Strategic Financial Concepts LLC acquired a new stake in Amgen during the second quarter worth $26,000. Hershey Financial Advisers LLC acquired a new stake in Amgen during the second quarter worth $30,000. nVerses Capital LLC purchased a new stake in Amgen in the second quarter valued at $31,000. Finally, Bbjs Financial Advisors LLC acquired a new position in shares of Amgen in the 2nd quarter valued at $33,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Price Performance

Amgen stock opened at $295.93 on Friday. The company has a market cap of $159.07 billion, a P/E ratio of 37.89, a price-to-earnings-growth ratio of 2.69 and a beta of 0.60. Amgen Inc. has a one year low of $260.52 and a one year high of $346.85. The business has a fifty day moving average of $322.15 and a two-hundred day moving average of $318.15. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32.

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

Amgen Announces Dividend

The company also recently disclosed 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. The ex-dividend date is Monday, November 18th. This represents a $9.00 annualized dividend and a yield of 3.04%. Amgen’s dividend payout ratio is presently 115.24%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AMGN. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $305.00 price objective (down from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. StockNews.com upgraded shares of Amgen from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. Bank of America upped their price objective on shares of Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. TD Cowen lifted their target price on shares of Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a report on Monday, October 21st. Finally, Sanford C. Bernstein started coverage on Amgen in a research report on Thursday, October 17th. They issued an “outperform” rating and a $380.00 target price on the stock. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Amgen currently has an average rating of “Moderate Buy” and a consensus price target 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.