Comprehensive Financial Consultants Institutional Inc. Trims Position in Amgen Inc. (NASDAQ:AMGN)

Comprehensive Financial Consultants Institutional Inc. reduced its holdings in Amgen Inc. (NASDAQ:AMGN) by 8.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,555 shares of the medical research company’s stock after selling 411 shares during the period. Comprehensive Financial Consultants Institutional Inc.’s holdings in Amgen were worth $1,468,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Meyer Handelman Co. grew its position in 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 purchasing an additional 8,700 shares during the period. EP Wealth Advisors LLC raised its position in Amgen by 11.0% during the first quarter. EP Wealth Advisors LLC now owns 23,769 shares of the medical research company’s stock valued at $6,758,000 after acquiring an additional 2,353 shares in the last quarter. Stanley Laman Group Ltd. acquired a new position in Amgen in the second quarter valued at approximately $3,354,000. Verity & Verity LLC boosted its position in Amgen by 2.7% in the 2nd quarter. Verity & Verity LLC now owns 82,368 shares of the medical research company’s stock worth $25,736,000 after purchasing an additional 2,182 shares in the last quarter. Finally, Matrix Asset Advisors Inc. NY grew its stake in shares of Amgen by 9.3% during the 2nd quarter. Matrix Asset Advisors Inc. NY now owns 45,068 shares of the medical research company’s stock worth $14,081,000 after purchasing an additional 3,845 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Stock Performance

Shares of Amgen stock opened at $321.91 on Friday. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. The business’s 50 day moving average price is $323.96 and its 200 day moving average price is $316.68. The company has a market cap of $173.04 billion, a price-to-earnings ratio of 41.22, a PEG ratio of 2.79 and a beta of 0.60. Amgen Inc. has a one year low of $260.52 and a one year high of $346.85.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, beating 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 analysts’ expectations of $8.50 billion. During the same quarter in the previous year, the company posted $4.96 EPS. The company’s revenue was up 23.2% compared to the same quarter last year. On average, research analysts predict that Amgen Inc. will post 19.51 EPS for the current year.

Amgen Announces Dividend

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 given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.80%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s payout ratio is presently 115.24%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on AMGN. Sanford C. Bernstein began coverage on shares of Amgen in a research note on Thursday, October 17th. They issued an “outperform” rating and a $380.00 target price for the company. Oppenheimer reiterated an “outperform” rating and issued a $380.00 price objective on shares of Amgen in a research report on Wednesday, August 7th. Royal Bank of Canada restated an “outperform” rating and set a $362.00 target price on shares of Amgen in a research report on Thursday, September 26th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $405.00 price target on shares of Amgen in a report on Tuesday, October 22nd. Finally, Truist Financial lowered Amgen from a “buy” rating to a “hold” rating and raised their price objective for the company from $320.00 to $333.00 in a report on Monday, October 14th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $333.50.

Amgen 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.