Amgen Inc. (NASDAQ:AMGN) Stock Position Lowered by International Private Wealth Advisors LLC

International Private Wealth Advisors LLC reduced its position in shares of Amgen Inc. (NASDAQ:AMGN) by 6.3% during the third quarter, Holdings Channel.com reports. The fund owned 840 shares of the medical research company’s stock after selling 56 shares during the quarter. International Private Wealth Advisors LLC’s holdings in Amgen were worth $271,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Meyer Handelman Co. lifted its holdings 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 purchasing an additional 8,700 shares during the last quarter. EP Wealth Advisors LLC increased its position 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 acquiring an additional 2,353 shares in the last quarter. Cornerstone Capital Inc. raised its holdings in shares of Amgen by 3.2% during the third quarter. Cornerstone Capital Inc. now owns 106,538 shares of the medical research company’s stock valued at $34,328,000 after acquiring an additional 3,260 shares during the period. Stanley Laman Group Ltd. purchased a new stake in shares of Amgen in the 2nd quarter valued at approximately $3,354,000. Finally, Verity & Verity LLC boosted its stake in Amgen by 2.7% in the 2nd quarter. Verity & Verity LLC now owns 82,368 shares of the medical research company’s stock worth $25,736,000 after purchasing an additional 2,182 shares during the period. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Price Performance

AMGN stock traded down $8.51 during trading on Thursday, hitting $292.93. The company had a trading volume of 553,385 shares, compared to its average volume of 2,427,400. The company has a fifty day moving average price of $322.15 and a two-hundred day moving average price of $318.15. Amgen Inc. has a fifty-two week low of $260.52 and a fifty-two week high of $346.85. The company has a market cap of $157.46 billion, a P/E ratio of 38.60, a P/E/G ratio of 2.67 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 announced its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (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 business had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. During the same quarter last year, the company posted $4.96 EPS. The firm’s revenue for the quarter was up 23.2% on a year-over-year basis. Equities research analysts expect that Amgen Inc. will post 19.51 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 3.07%. Amgen’s dividend payout ratio is 115.24%.

Analyst Ratings Changes

AMGN has been the subject of a number of research analyst reports. Bank of America increased their target price on Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Robert W. Baird reissued an “underperform” rating and issued a $215.00 price objective on shares of Amgen in a research note on Wednesday, September 25th. Wells Fargo & Company downgraded shares of Amgen from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $320.00 to $335.00 in a research note on Wednesday, August 7th. Barclays lifted their price objective on Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Finally, William Blair reiterated an “outperform” rating on shares of Amgen in a report on Tuesday. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $333.57.

Amgen Company 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.