Marks Group Wealth Management Inc Lowers Stake in Amgen Inc. (NASDAQ:AMGN)

Marks Group Wealth Management Inc lowered its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 0.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,270 shares of the medical research company’s stock after selling 36 shares during the period. Marks Group Wealth Management Inc’s holdings in Amgen were worth $2,020,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hershey Financial Advisers LLC bought a new position in Amgen during the 2nd quarter valued at approximately $30,000. nVerses Capital LLC bought a new position in shares of Amgen during the second quarter valued at $31,000. Bbjs Financial Advisors LLC purchased a new position in shares of Amgen in the 2nd quarter worth about $33,000. Matrix Trust Co bought a new position in Amgen in the 3rd quarter worth about $36,000. Finally, FSA Wealth Management LLC grew its position in Amgen by 182.0% during the 1st quarter. FSA Wealth Management LLC now owns 141 shares of the medical research company’s stock valued at $40,000 after purchasing an additional 91 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Price Performance

NASDAQ AMGN opened at $319.29 on Wednesday. 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 Inc. has a 12 month low of $260.52 and a 12 month high of $346.85. The stock has a market cap of $171.56 billion, a price-to-earnings ratio of 40.88, a PEG ratio of 2.81 and a beta of 0.60. The company’s 50 day moving average is $324.12 and its two-hundred day moving average is $316.64.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, beating the consensus estimate of $5.11 by $0.47. The firm had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The company’s revenue was up 23.2% on a year-over-year basis. During the same period last year, the firm earned $4.96 EPS. As a group, research analysts anticipate that Amgen Inc. will post 19.49 earnings per share for the current year.

Amgen Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Barclays upped their target price on shares of Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Wells Fargo & Company lowered Amgen from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $320.00 to $335.00 in a report on Wednesday, August 7th. Dbs Bank raised Amgen to a “strong-buy” rating in a report on Monday, September 16th. Bank of America lifted their price objective on Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Finally, StockNews.com upgraded shares of Amgen from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, eleven have given a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $333.50.

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.