Covenant Asset Management LLC Sells 206 Shares of Amgen Inc. (NASDAQ:AMGN)

Covenant Asset Management LLC lessened its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 3.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,255 shares of the medical research company’s stock after selling 206 shares during the quarter. Covenant Asset Management LLC’s holdings in Amgen were worth $1,693,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Charles Schwab Investment Management Inc. boosted its position in Amgen by 2.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 10,532,629 shares of the medical research company’s stock valued at $3,393,718,000 after buying an additional 251,876 shares in the last quarter. Pathway Financial Advisers LLC boosted its holdings in shares of Amgen by 33,125.4% in the 3rd quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock worth $1,437,115,000 after acquiring an additional 4,446,757 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Amgen by 6.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,701,631 shares of the medical research company’s stock worth $844,137,000 after acquiring an additional 162,223 shares during the last quarter. International Assets Investment Management LLC increased its holdings in Amgen by 6,812.4% during the 3rd quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock valued at $8,130,610,000 after purchasing an additional 2,486,882 shares in the last quarter. Finally, Janus Henderson Group PLC raised its position in Amgen by 137.1% in the 1st quarter. Janus Henderson Group PLC now owns 2,381,133 shares of the medical research company’s stock valued at $676,984,000 after purchasing an additional 1,377,007 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Price Performance

AMGN opened at $289.77 on Friday. The company has a fifty day simple moving average of $317.28 and a 200 day simple moving average of $318.02. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. The stock has a market cap of $155.76 billion, a P/E ratio of 37.10, a P/E/G ratio of 2.50 and a beta of 0.60. Amgen Inc. has a 12 month low of $260.68 and a 12 month high of $346.85.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) 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 company had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.50 billion. During the same period in the prior year, the company earned $4.96 earnings per share. The company’s revenue for the quarter was up 23.2% compared to the same quarter last year. On average, research analysts expect that Amgen Inc. will post 19.51 EPS for the current year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 18th will be paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date is Monday, November 18th. Amgen’s payout ratio is currently 115.24%.

Wall Street Analyst Weigh In

AMGN has been the topic of several research analyst reports. Wolfe Research assumed coverage on Amgen in a report on Friday, November 15th. They set a “peer perform” rating on the stock. Truist Financial cut shares of Amgen from a “buy” rating to a “hold” rating and raised their price objective for the company from $320.00 to $333.00 in a research report on Monday, October 14th. 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 price target on the stock. Bank of America boosted their price objective on shares of Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $380.00 price objective on shares of Amgen in a research report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Amgen currently has a consensus rating of “Moderate Buy” and a consensus 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.