Amgen Inc. (NASDAQ:AMGN) Shares Sold by MCF Advisors LLC

MCF Advisors LLC cut its stake in Amgen Inc. (NASDAQ:AMGN) by 0.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,473 shares of the medical research company’s stock after selling 38 shares during the quarter. MCF Advisors LLC’s holdings in Amgen were worth $1,441,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Strategic Financial Concepts LLC acquired a new stake in shares of Amgen in the second quarter valued at about $26,000. Hershey Financial Advisers LLC purchased a new position in Amgen in the 2nd quarter worth approximately $30,000. nVerses Capital LLC acquired a new position in shares of Amgen during the 2nd quarter worth approximately $31,000. Bbjs Financial Advisors LLC purchased a new stake in shares of Amgen in the second quarter valued at approximately $33,000. Finally, Matrix Trust Co acquired a new stake in shares of Amgen in the third quarter valued at approximately $36,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Stock Up 0.4 %

Shares of AMGN traded up $1.29 during mid-day trading on Friday, hitting $316.98. 1,604,649 shares of the company’s stock were exchanged, compared to its average volume of 2,427,964. The stock’s 50-day moving average is $325.49 and its 200-day moving average is $313.47. 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 Inc. has a fifty-two week low of $249.70 and a fifty-two week high of $346.85. The company has a market cap of $170.04 billion, a price-to-earnings ratio of 45.28, a P/E/G ratio of 2.86 and a beta of 0.61.

Amgen (NASDAQ:AMGN) last released its 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 business had revenue of $8.39 billion for 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%. Amgen’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same quarter last year, the company earned $5.00 earnings per share. On average, sell-side analysts anticipate that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 2.84%. Amgen’s dividend payout ratio (DPR) is presently 128.57%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AMGN. Truist Financial lowered Amgen from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $320.00 to $333.00 in a research note on Monday, October 14th. Bank of America boosted their price target on shares of Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Barclays raised their price objective 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. Wells Fargo & Company lowered shares of Amgen from an “overweight” rating to an “equal weight” rating and boosted their target price for the company from $320.00 to $335.00 in a report on Wednesday, August 7th. Finally, Sanford C. Bernstein initiated coverage on shares of Amgen in a report on Thursday, October 17th. They set an “outperform” rating and a $380.00 price target for the company. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $332.55.

About Amgen

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.