Amgen Inc. (NASDAQ:AMGN) Shares Sold by Wealth Architects LLC

Wealth Architects LLC reduced its position in shares of Amgen Inc. (NASDAQ:AMGN) by 10.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,696 shares of the medical research company’s stock after selling 206 shares during the period. Wealth Architects LLC’s holdings in Amgen were worth $547,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Advisory Services Network LLC boosted its stake in shares of Amgen by 33.9% in the first quarter. Advisory Services Network LLC now owns 27,390 shares of the medical research company’s stock valued at $7,788,000 after purchasing an additional 6,935 shares during the period. Gallacher Capital Management LLC grew its stake in shares of Amgen by 5.7% in the first quarter. Gallacher Capital Management LLC now owns 1,006 shares of the medical research company’s stock worth $286,000 after acquiring an additional 54 shares in the last quarter. CFO4Life Group LLC increased its position in shares of Amgen by 4.0% during the first quarter. CFO4Life Group LLC now owns 2,169 shares of the medical research company’s stock worth $617,000 after acquiring an additional 84 shares during the period. Empirical Finance LLC raised its stake in shares of Amgen by 3.4% in the first quarter. Empirical Finance LLC now owns 19,773 shares of the medical research company’s stock valued at $5,622,000 after acquiring an additional 649 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its holdings in Amgen by 5.3% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 64,427 shares of the medical research company’s stock valued at $18,318,000 after purchasing an additional 3,246 shares during the period. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Stock Up 0.8 %

Amgen stock opened at $321.79 on Thursday. The stock has a 50 day moving average of $323.96 and a two-hundred day moving average of $316.68. Amgen Inc. has a twelve month low of $260.52 and a twelve month high of $346.85. The stock has a market capitalization of $172.91 billion, a price-to-earnings ratio of 41.20, a PEG ratio of 2.81 and a beta of 0.60. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, topping 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 firm had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.50 billion. During the same period last year, the company earned $4.96 earnings per share. The company’s revenue for the quarter was up 23.2% on a year-over-year basis. As a group, research analysts expect that Amgen Inc. will post 19.49 earnings per share for the current year.

Amgen Dividend Announcement

The firm 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. This represents a $9.00 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date is Monday, November 18th. Amgen’s dividend payout ratio is presently 115.24%.

Analyst Ratings Changes

Several equities research analysts have weighed in on AMGN shares. TD Cowen upped their price target on Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a report on Monday, October 21st. UBS Group cut their target price on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Wells Fargo & Company downgraded shares of Amgen from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $320.00 to $335.00 in a research note on Wednesday, August 7th. Morgan Stanley dropped their price objective on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 11th. Finally, Sanford C. Bernstein began coverage on shares of Amgen in a research note on Thursday, October 17th. They set an “outperform” rating and a $380.00 target price for the company. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Amgen has an average rating of “Moderate Buy” and a consensus price target of $333.50.

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.