Sunpointe LLC Has $327,000 Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Sunpointe LLC cut its position in Amgen Inc. (NASDAQ:AMGN) by 13.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,016 shares of the medical research company’s stock after selling 155 shares during the period. Sunpointe LLC’s holdings in Amgen were worth $327,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Grassi Investment Management acquired a new stake in Amgen in the first quarter worth $2,283,000. Meyer Handelman Co. increased its position in shares of Amgen by 7.2% during the second 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 increased its position in shares of 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 acquiring an additional 2,914 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its position in shares of Amgen by 37.4% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 11,642 shares of the medical research company’s stock worth $3,310,000 after acquiring an additional 3,168 shares in the last quarter. Finally, Oak Harvest Investment Services increased its position in shares of Amgen by 19.1% during the first quarter. Oak Harvest Investment Services now owns 38,067 shares of the medical research company’s stock worth $10,823,000 after acquiring an additional 6,116 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on AMGN shares. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $305.00 price objective (down previously from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. Truist Financial cut shares of Amgen from a “buy” rating to a “hold” rating and boosted their price target for the stock from $320.00 to $333.00 in a research report on Monday. Robert W. Baird reissued an “underperform” rating and set a $215.00 price target on shares of Amgen in a research report on Wednesday, September 25th. Cantor Fitzgerald began coverage on shares of Amgen in a research report on Friday, September 27th. They set an “overweight” rating and a $405.00 price target on the stock. Finally, Morgan Stanley cut their price target on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 11th. 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 stock. According to MarketBeat, Amgen currently has an average rating of “Hold” and an average target price of $326.95.

Amgen Stock Performance

AMGN traded up $0.51 on Wednesday, reaching $325.60. The company had a trading volume of 58,394 shares, compared to its average volume of 2,447,880. Amgen Inc. has a fifty-two week low of $249.70 and a fifty-two week high of $346.85. The stock has a market cap of $174.66 billion, a P/E ratio of 46.44, a P/E/G ratio of 2.86 and a beta of 0.61. The company’s fifty day moving average is $325.97 and its 200 day moving average is $311.49. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.89 and a current ratio of 1.26.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results 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). Amgen had a net margin of 10.12% and a return on equity of 161.72%. The company had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.35 billion. During the same quarter last year, the company posted $5.00 EPS. The firm’s quarterly revenue was up 20.1% on a year-over-year basis. As a group, analysts predict that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The firm also recently announced 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. The ex-dividend date was Friday, August 16th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.76%. Amgen’s payout ratio is presently 128.57%.

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.