Aviance Capital Partners LLC Has $10.26 Million Position in Amgen Inc. (NASDAQ:AMGN)

Aviance Capital Partners LLC increased its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 0.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,834 shares of the medical research company’s stock after buying an additional 45 shares during the period. Amgen comprises approximately 1.4% of Aviance Capital Partners LLC’s portfolio, making the stock its 12th largest position. Aviance Capital Partners LLC’s holdings in Amgen were worth $10,258,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in AMGN. Capital Performance Advisors LLP purchased a new position in shares of Amgen in the 3rd quarter worth about $25,000. Hershey Financial Advisers LLC purchased a new stake in shares of Amgen during the second quarter valued at approximately $30,000. nVerses Capital LLC purchased a new stake in shares of Amgen during the second quarter valued at approximately $31,000. Bbjs Financial Advisors LLC purchased a new stake in Amgen in the second quarter worth $33,000. Finally, Matrix Trust Co bought a new position in Amgen in the third quarter worth $36,000. Institutional investors own 76.50% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on AMGN. William Blair reiterated an “outperform” rating on shares of Amgen in a report on Tuesday, November 12th. UBS Group reduced their price objective on Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Sanford C. Bernstein started coverage on Amgen in a research report on Thursday, October 17th. They set an “outperform” rating and a $380.00 target price on the stock. Wells Fargo & Company cut Amgen from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $320.00 to $335.00 in a report on Wednesday, August 7th. Finally, Wolfe Research started coverage on Amgen in a report on Friday. They issued a “peer perform” rating for the company. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eleven have assigned 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 an average price target of $333.57.

Amgen Price Performance

Shares of NASDAQ:AMGN opened at $278.76 on Tuesday. The business’s fifty day moving average price is $319.90 and its two-hundred day moving average price is $318.65. The stock has a market cap of $149.84 billion, a PE ratio of 35.69, a price-to-earnings-growth ratio of 2.53 and a beta of 0.60. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. Amgen Inc. has a one year low of $260.52 and a one year high of $346.85.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data 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. The business had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The business’s revenue was up 23.2% on a year-over-year basis. During the same quarter last year, the firm earned $4.96 earnings per share. On average, analysts forecast that Amgen Inc. will post 19.51 EPS for the current fiscal year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s payout ratio is 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.