Fiducient Advisors LLC Decreases Stock Position in Amgen Inc. (NASDAQ:AMGN)

Fiducient Advisors LLC cut its holdings in Amgen Inc. (NASDAQ:AMGN) by 4.2% in the third quarter, HoldingsChannel reports. The institutional investor owned 4,810 shares of the medical research company’s stock after selling 213 shares during the quarter. Fiducient Advisors LLC’s holdings in Amgen were worth $1,550,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AMGN. Strategic Financial Concepts LLC purchased a new stake in Amgen in the second quarter valued at about $26,000. Hershey Financial Advisers LLC purchased a new position in shares of Amgen in the second quarter worth about $30,000. nVerses Capital LLC purchased a new position in shares of Amgen in the second quarter worth about $31,000. Bbjs Financial Advisors LLC purchased a new position in shares of Amgen in the second quarter worth about $33,000. Finally, Matrix Trust Co purchased a new position in shares of Amgen in the third quarter worth about $36,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AMGN has been the subject of several research analyst reports. Jefferies Financial Group restated 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. TD Cowen raised their price objective on Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Sanford C. Bernstein started coverage on Amgen in a research report on Thursday, October 17th. They set an “outperform” rating and a $380.00 price target for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $362.00 price target on shares of Amgen in a research report on Thursday, September 26th. Finally, Oppenheimer reiterated an “outperform” rating and set a $380.00 price target on shares of Amgen in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $332.55.

Amgen Stock Performance

Shares of NASDAQ:AMGN opened at $315.54 on Thursday. 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 business’s 50 day moving average price is $324.75 and its 200-day moving average price is $314.78. The firm has a market capitalization of $169.27 billion, a PE ratio of 45.08, a P/E/G 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 issued its quarterly earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). The firm had revenue of $8.39 billion during 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 business’s revenue was up 20.1% on a year-over-year basis. During the same period in the prior year, the firm earned $5.00 earnings per share. As a group, equities research analysts expect that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date is Monday, November 18th. Amgen’s dividend 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.