Regent Peak Wealth Advisors LLC Cuts Holdings in Amgen Inc. (NASDAQ:AMGN)

Regent Peak Wealth Advisors LLC lessened its stake in Amgen Inc. (NASDAQ:AMGN) by 7.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 8,315 shares of the medical research company’s stock after selling 713 shares during the quarter. Regent Peak Wealth Advisors LLC’s holdings in Amgen were worth $2,679,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Grassi Investment Management acquired a new stake in Amgen in the first quarter valued at $2,283,000. Meyer Handelman Co. raised its position in shares of Amgen by 7.2% during the 2nd quarter. Meyer Handelman Co. now owns 129,831 shares of the medical research company’s stock worth $40,566,000 after acquiring an additional 8,700 shares in the last quarter. Royal Fund Management LLC lifted its stake in Amgen by 20.1% during the first quarter. Royal Fund Management LLC now owns 17,378 shares of the medical research company’s stock worth $4,960,000 after purchasing an additional 2,914 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its holdings in Amgen by 37.4% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 11,642 shares of the medical research company’s stock valued at $3,310,000 after purchasing an additional 3,168 shares in the last quarter. Finally, Oak Harvest Investment Services increased its stake in Amgen by 19.1% in the first quarter. Oak Harvest Investment Services now owns 38,067 shares of the medical research company’s stock valued at $10,823,000 after purchasing an additional 6,116 shares during the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Stock Performance

Shares of AMGN stock traded down $0.96 during trading hours on Wednesday, reaching $324.13. 354,938 shares of the company’s stock were exchanged, compared to its average volume of 2,449,225. The company has a debt-to-equity ratio of 9.64, a current ratio of 1.26 and a quick ratio of 0.89. The company’s 50 day moving average is $325.97 and its two-hundred day moving average is $311.49. The company has a market cap of $173.87 billion, a P/E ratio of 46.44, a price-to-earnings-growth ratio of 2.86 and a beta of 0.61. Amgen Inc. has a 1 year low of $249.70 and a 1 year high of $346.85.

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

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s dividend payout ratio is currently 128.57%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. TD Cowen upped their target price on shares of Amgen from $360.00 to $381.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Bank of America raised 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. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $305.00 target price (down from $310.00) on shares of Amgen in a report on Wednesday, August 7th. Robert W. Baird restated an “underperform” rating and set a $215.00 price target on shares of Amgen in a research note on Wednesday, September 25th. Finally, Barclays boosted their price objective on Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Amgen has an average rating of “Hold” and an average price target of $326.95.

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.