Pine Valley Investments Ltd Liability Co Cuts Holdings in Amgen Inc. (NASDAQ:AMGN)

Pine Valley Investments Ltd Liability Co reduced its position in Amgen Inc. (NASDAQ:AMGN) by 0.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,709 shares of the medical research company’s stock after selling 43 shares during the period. Pine Valley Investments Ltd Liability Co’s holdings in Amgen were worth $1,517,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AMGN. First Horizon Advisors Inc. grew its holdings in shares of Amgen by 3.2% in the third quarter. First Horizon Advisors Inc. now owns 60,769 shares of the medical research company’s stock valued at $19,581,000 after purchasing an additional 1,872 shares in the last quarter. Swiss National Bank increased its holdings in shares of Amgen by 0.3% in the 3rd quarter. Swiss National Bank now owns 1,592,233 shares of the medical research company’s stock worth $513,033,000 after buying an additional 5,500 shares during the last quarter. Napa Wealth Management bought a new stake in shares of Amgen in the 3rd quarter worth about $1,104,000. HighVista Strategies LLC purchased a new stake in shares of Amgen during the 3rd quarter valued at about $3,255,000. Finally, Summit Trail Advisors LLC lifted its holdings in shares of Amgen by 40.1% in the 3rd quarter. Summit Trail Advisors LLC now owns 7,552 shares of the medical research company’s stock valued at $2,433,000 after acquiring an additional 2,163 shares during the last quarter. 76.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Dbs Bank upgraded Amgen to a “strong-buy” rating in a research report on Monday, September 16th. Royal Bank of Canada dropped their price target on shares of Amgen from $360.00 to $330.00 and set an “outperform” rating for the company in a research note on Wednesday, November 27th. Leerink Partners reduced their price objective on shares of Amgen from $349.00 to $302.00 in a research report on Wednesday, November 27th. Jefferies Financial Group reissued a “buy” rating and issued a $380.00 price objective on shares of Amgen in a research note on Tuesday, November 12th. Finally, StockNews.com raised Amgen from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Amgen presently has an average rating of “Hold” and a consensus target price of $319.68.

Amgen Price Performance

AMGN opened at $274.06 on Friday. The firm has a market capitalization of $147.32 billion, a PE ratio of 35.09, a price-to-earnings-growth ratio of 3.02 and a beta of 0.55. The business’s 50-day moving average is $303.87 and its two-hundred day moving average is $315.16. Amgen Inc. has a 1 year low of $257.80 and a 1 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.

Amgen (NASDAQ:AMGN) last posted 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. The firm had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. Amgen’s revenue was up 23.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.96 EPS. Research analysts anticipate that Amgen Inc. will post 19.51 earnings per share for the current fiscal year.

Amgen Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be paid a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 3.47%. This is an increase from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date is Friday, February 14th. Amgen’s payout ratio is 121.90%.

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.