Richwood Investment Advisors LLC Sells 62 Shares of Amgen Inc. (NASDAQ:AMGN)

Richwood Investment Advisors LLC lowered its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 1.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,132 shares of the medical research company’s stock after selling 62 shares during the quarter. Amgen makes up approximately 1.1% of Richwood Investment Advisors LLC’s holdings, making the stock its 20th biggest holding. Richwood Investment Advisors LLC’s holdings in Amgen were worth $1,331,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Fisher Asset Management LLC boosted its position in Amgen by 4.0% in the 4th quarter. Fisher Asset Management LLC now owns 78,753 shares of the medical research company’s stock valued at $22,682,000 after buying an additional 3,049 shares during the last quarter. ICA Group Wealth Management LLC bought a new position in Amgen in the fourth quarter valued at about $188,000. Leo Wealth LLC bought a new position in Amgen in the fourth quarter valued at about $449,000. Nomura Holdings Inc. acquired a new stake in Amgen in the fourth quarter worth about $3,104,000. Finally, Duncan Williams Asset Management LLC bought a new stake in Amgen during the 1st quarter worth about $590,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on AMGN shares. Argus raised their target price on shares of Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $380.00 price objective (up from $375.00) on shares of Amgen in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $305.00 target price (down previously from $310.00) on shares of Amgen in a report on Wednesday, August 7th. Oppenheimer reissued an “outperform” rating and issued a $380.00 price target on shares of Amgen in a research note on Wednesday, August 7th. Finally, Dbs Bank raised Amgen to a “strong-buy” rating in a research note on Monday, September 16th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $326.95.

Amgen Stock Up 0.5 %

Shares of AMGN stock traded up $1.73 during trading on Tuesday, reaching $326.35. The company’s stock had a trading volume of 389,541 shares, compared to its average volume of 2,452,062. The company has a market cap of $175.07 billion, a price-to-earnings ratio of 46.37, a price-to-earnings-growth ratio of 2.86 and a beta of 0.61. Amgen Inc. has a one year low of $249.70 and a one year high of $346.85. The business has a fifty day moving average price of $326.05 and a 200-day moving average price of $311.20. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 9.64.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 EPS for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). The business had revenue of $8.39 billion for the quarter, compared to analyst estimates of $8.35 billion. Amgen had a return on equity of 161.72% and a net margin of 10.12%. The company’s quarterly revenue was up 20.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.00 earnings per share. Analysts anticipate that Amgen Inc. will post 19.49 earnings per share for the current year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.76%. The ex-dividend date was Friday, August 16th. Amgen’s dividend payout ratio (DPR) is 128.57%.

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.