Tributary Capital Management LLC Reduces Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Tributary Capital Management LLC trimmed its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 3.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,998 shares of the medical research company’s stock after selling 65 shares during the quarter. Tributary Capital Management LLC’s holdings in Amgen were worth $644,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Meyer Handelman Co. grew its stake in Amgen by 7.2% during the 2nd quarter. Meyer Handelman Co. now owns 129,831 shares of the medical research company’s stock valued at $40,566,000 after purchasing an additional 8,700 shares during the last quarter. Oak Harvest Investment Services grew its stake in Amgen by 19.1% during the 1st quarter. Oak Harvest Investment Services now owns 38,067 shares of the medical research company’s stock valued at $10,823,000 after purchasing an additional 6,116 shares during the last quarter. EP Wealth Advisors LLC lifted its holdings in shares of Amgen by 11.0% in the 1st quarter. EP Wealth Advisors LLC now owns 23,769 shares of the medical research company’s stock valued at $6,758,000 after buying an additional 2,353 shares during the period. BNP Paribas acquired a new position in shares of Amgen in the 1st quarter valued at about $4,772,000. Finally, Stanley Laman Group Ltd. acquired a new position in shares of Amgen in the 2nd quarter valued at about $3,354,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Stock Up 0.4 %

Amgen stock opened at $316.98 on Monday. Amgen Inc. has a 1-year low of $249.70 and a 1-year high of $346.85. 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 stock has a market cap of $170.04 billion, a PE ratio of 45.28, a P/E/G ratio of 2.86 and a beta of 0.61. The stock’s fifty day moving average is $325.49 and its two-hundred day moving average is $314.10.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.01 by ($0.04). Amgen had a return on equity of 161.72% and a net margin of 10.12%. The firm had revenue of $8.39 billion for the quarter, compared to analysts’ expectations of $8.35 billion. During the same period in the previous year, the business posted $5.00 EPS. The business’s revenue for the quarter was up 20.1% compared to the same quarter last year. On average, sell-side analysts expect that Amgen Inc. will post 19.49 EPS for the current fiscal year.

Amgen Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Barclays boosted their price objective on Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Wells Fargo & Company lowered Amgen from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $320.00 to $335.00 in a research report on Wednesday, August 7th. Sanford C. Bernstein assumed coverage on Amgen in a research report on Thursday, October 17th. They issued an “outperform” rating and a $380.00 price target for the company. Royal Bank of Canada restated an “outperform” rating and issued a $362.00 price target on shares of Amgen in a research report on Thursday, September 26th. Finally, TD Cowen increased their price objective on Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. One analyst has rated the stock with a sell rating, eleven have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $332.55.

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.