Principal Street Partners LLC Has $6.15 Million Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Principal Street Partners LLC trimmed its position in Amgen Inc. (NASDAQ:AMGN) by 21.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,095 shares of the medical research company’s stock after selling 5,353 shares during the quarter. Principal Street Partners LLC’s holdings in Amgen were worth $6,147,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in AMGN. Capital Performance Advisors LLP bought a new position in shares of Amgen in the third quarter worth about $25,000. Strategic Financial Concepts LLC acquired a new position in Amgen during the 2nd quarter worth approximately $26,000. Hershey Financial Advisers LLC bought a new position in Amgen in the 2nd quarter valued at approximately $30,000. nVerses Capital LLC acquired a new stake in Amgen in the second quarter valued at approximately $31,000. Finally, Bbjs Financial Advisors LLC bought a new stake in shares of Amgen during the second quarter worth $33,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AMGN has been the subject of a number of research reports. Robert W. Baird reiterated an “underperform” rating and issued a $215.00 price target on shares of Amgen in a research note on Wednesday, September 25th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $405.00 target price on shares of Amgen in a research report on Tuesday, October 22nd. Oppenheimer restated an “outperform” rating and set a $380.00 price target on shares of Amgen in a report on Wednesday, August 7th. Bank of America raised their price objective on shares of Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Finally, Barclays lifted their target price on shares of Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Amgen presently has a consensus rating of “Moderate Buy” and a consensus price target of $333.57.

Amgen Trading Down 11.1 %

NASDAQ AMGN opened at $261.43 on Tuesday. Amgen Inc. has a one year low of $260.68 and a one year high of $346.85. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. The business has a 50 day simple moving average of $315.69 and a 200 day simple moving average of $318.05. The stock has a market capitalization of $140.53 billion, a P/E ratio of 37.64, a P/E/G ratio of 2.63 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping 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 company had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.50 billion. During the same quarter last year, the firm posted $4.96 EPS. The company’s quarterly revenue was up 23.2% on a year-over-year basis. Research analysts expect that Amgen Inc. will post 19.52 earnings per share for the current year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be issued a dividend of $2.25 per share. The ex-dividend date is Monday, November 18th. This represents a $9.00 annualized dividend and a dividend yield of 3.44%. Amgen’s dividend payout ratio is currently 115.24%.

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.