Denver PWM LLC Trims Position in Amgen Inc. (NASDAQ:AMGN)

Denver PWM LLC reduced its holdings in Amgen Inc. (NASDAQ:AMGN) by 18.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 662 shares of the medical research company’s stock after selling 151 shares during the quarter. Denver PWM LLC’s holdings in Amgen were worth $213,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in AMGN. First Horizon Advisors Inc. boosted its holdings in Amgen by 3.2% in the third quarter. First Horizon Advisors Inc. now owns 60,769 shares of the medical research company’s stock valued at $19,581,000 after acquiring an additional 1,872 shares during the last quarter. Swiss National Bank lifted its stake in shares of Amgen by 0.3% in the 3rd quarter. Swiss National Bank now owns 1,592,233 shares of the medical research company’s stock valued at $513,033,000 after purchasing an additional 5,500 shares in the last quarter. Napa Wealth Management purchased a new stake in shares of Amgen during the 3rd quarter worth about $1,104,000. HighVista Strategies LLC acquired a new stake in Amgen during the 3rd quarter worth approximately $3,255,000. Finally, Summit Trail Advisors LLC raised its holdings in Amgen by 40.1% in the third quarter. Summit Trail Advisors LLC now owns 7,552 shares of the medical research company’s stock valued at $2,433,000 after buying an additional 2,163 shares during the period. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Stock Up 0.2 %

AMGN stock opened at $274.06 on Friday. The firm has a market cap of $147.32 billion, a price-to-earnings ratio of 35.09, a PEG ratio of 2.91 and a beta of 0.55. Amgen Inc. has a 1-year low of $257.80 and a 1-year high of $346.85. The firm has a fifty day moving average price of $303.00 and a two-hundred day moving average price of $314.87. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, topping the consensus estimate of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The firm had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. During the same quarter in the prior year, the business earned $4.96 earnings per share. Amgen’s quarterly revenue was up 23.2% on a year-over-year basis. Research analysts predict that Amgen Inc. will post 19.53 EPS for the current year.

Amgen Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be paid a dividend of $2.38 per share. This is an increase from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date of this dividend is Friday, February 14th. Amgen’s dividend payout ratio is presently 115.24%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on AMGN. TD Cowen increased their price objective on shares of Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. UBS Group lowered their price target on Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Dbs Bank upgraded Amgen to a “strong-buy” rating in a research note on Monday, September 16th. Wolfe Research assumed coverage on Amgen in a research report on Friday, November 15th. They set a “peer perform” rating on the stock. Finally, Robert W. Baird reaffirmed an “underperform” rating and issued a $215.00 price objective on shares of Amgen in a research report on Wednesday, September 25th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $319.68.

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.