Amgen Inc. (NASDAQ:AMGN) Position Lessened by Greenwich Wealth Management LLC

Greenwich Wealth Management LLC lowered its position in shares of Amgen Inc. (NASDAQ:AMGN) by 11.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,210 shares of the medical research company’s stock after selling 157 shares during the period. Greenwich Wealth Management LLC’s holdings in Amgen were worth $390,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of AMGN. Strategic Financial Concepts LLC bought a new stake in shares of Amgen in the 2nd quarter worth $26,000. Hershey Financial Advisers LLC bought a new stake in Amgen in the second quarter worth about $30,000. nVerses Capital LLC bought a new position in shares of Amgen during the 2nd quarter valued at about $31,000. Bbjs Financial Advisors LLC acquired a new position in shares of Amgen in the 2nd quarter worth approximately $33,000. Finally, Matrix Trust Co bought a new stake in shares of Amgen in the 3rd quarter worth approximately $36,000. 76.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

AMGN has been the topic of several recent research reports. Oppenheimer restated an “outperform” rating and issued a $380.00 price target on shares of Amgen in a research report on Wednesday, August 7th. UBS Group decreased their target price on Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a report on Thursday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $405.00 price target on shares of Amgen in a research report on Tuesday, October 22nd. Wells Fargo & Company downgraded Amgen from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $320.00 to $335.00 in a report on Wednesday, August 7th. Finally, Morgan Stanley decreased their target price on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a report on Thursday, July 11th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $333.50.

Amgen Stock Performance

Shares of NASDAQ:AMGN traded down $0.94 during trading on Friday, reaching $319.22. The stock had a trading volume of 1,826,772 shares, compared to its average volume of 2,418,089. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 9.64. The stock has a fifty day simple moving average of $324.47 and a two-hundred day simple moving average of $315.19. The firm has a market capitalization of $171.53 billion, a price-to-earnings ratio of 40.87, a P/E/G ratio of 2.84 and a beta of 0.61. Amgen Inc. has a 52 week low of $260.52 and a 52 week high of $346.85.

Amgen (NASDAQ:AMGN) last released its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, topping analysts’ consensus estimates of $5.11 by $0.47. The firm had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 181.58%. The business’s revenue was up 23.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.96 EPS. As a group, analysts anticipate that Amgen Inc. will post 19.48 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 18th will be issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s dividend payout ratio (DPR) is currently 115.24%.

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.