Well Done LLC Sells 87 Shares of Amgen Inc. (NASDAQ:AMGN)

Well Done LLC reduced its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 6.0% during the third quarter, Holdings Channel reports. The institutional investor owned 1,355 shares of the medical research company’s stock after selling 87 shares during the quarter. Well Done LLC’s holdings in Amgen were worth $437,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Meyer Handelman Co. grew its stake in shares of Amgen by 7.2% during the second quarter. Meyer Handelman Co. now owns 129,831 shares of the medical research company’s stock valued at $40,566,000 after buying an additional 8,700 shares during the last quarter. Royal Fund Management LLC grew its stake in shares of Amgen by 20.1% during the first quarter. Royal Fund Management LLC now owns 17,378 shares of the medical research company’s stock valued at $4,960,000 after buying an additional 2,914 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its stake in shares of Amgen by 37.4% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 11,642 shares of the medical research company’s stock valued at $3,310,000 after buying an additional 3,168 shares during the last quarter. Oak Harvest Investment Services grew its stake in shares of Amgen by 19.1% during the first quarter. Oak Harvest Investment Services now owns 38,067 shares of the medical research company’s stock valued at $10,823,000 after buying an additional 6,116 shares during the last quarter. Finally, EP Wealth Advisors LLC grew its stake in shares of Amgen by 11.0% in the first quarter. EP Wealth Advisors LLC now owns 23,769 shares of the medical research company’s stock worth $6,758,000 after purchasing an additional 2,353 shares during the last quarter. 76.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

AMGN has been the topic of several recent analyst reports. Robert W. Baird reissued an “underperform” rating and issued a $215.00 target price on shares of Amgen in a research note on Wednesday, September 25th. Dbs Bank raised Amgen to a “strong-buy” rating in a research note on Monday, September 16th. Jefferies Financial Group reissued a “buy” rating and issued a $380.00 target price (up from $375.00) on shares of Amgen in a research note on Wednesday, August 7th. Truist Financial cut Amgen from a “buy” rating to a “hold” rating and raised their target price for the stock from $320.00 to $333.00 in a research note on Monday. Finally, Morgan Stanley cut their target price on Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $329.48.

Amgen Stock Down 0.4 %

Shares of AMGN stock traded down $1.32 during trading hours on Friday, hitting $320.01. 289,357 shares of the company’s stock traded hands, compared to its average volume of 2,441,738. The stock’s fifty day simple moving average is $326.08 and its two-hundred day simple moving average is $311.63. Amgen Inc. has a 12-month low of $249.70 and a 12-month high of $346.85. The stock has a market cap of $171.66 billion, a price-to-earnings ratio of 45.84, a PEG ratio of 2.86 and a beta of 0.61. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 9.64.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.01 by ($0.04). Amgen had a net margin of 10.12% and a return on equity of 161.72%. The business had revenue of $8.39 billion for the quarter, compared to analysts’ expectations of $8.35 billion. During the same quarter in the previous year, the business posted $5.00 earnings per share. Amgen’s revenue for the quarter was up 20.1% on a year-over-year basis. On average, analysts expect that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were issued a $2.25 dividend. The ex-dividend date was Friday, August 16th. This represents a $9.00 dividend on an annualized basis and a yield of 2.81%. Amgen’s payout ratio is currently 128.57%.

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.