Kovack Advisors Inc. Sells 552 Shares of Amgen Inc. (NASDAQ:AMGN)

Kovack Advisors Inc. cut its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 25.6% during the third quarter, Holdings Channel reports. The fund owned 1,602 shares of the medical research company’s stock after selling 552 shares during the period. Kovack Advisors Inc.’s holdings in Amgen were worth $516,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Capital International Investors lifted its position in Amgen by 547.8% during the 1st quarter. Capital International Investors now owns 7,005,269 shares of the medical research company’s stock valued at $1,991,738,000 after purchasing an additional 5,923,915 shares during the period. Pathway Financial Advisers LLC lifted its holdings in Amgen by 33,125.4% in the third quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock valued at $1,437,115,000 after buying an additional 4,446,757 shares during the period. Vanguard Group Inc. boosted its stake in Amgen by 6.2% in the first quarter. Vanguard Group Inc. now owns 52,088,210 shares of the medical research company’s stock valued at $14,809,720,000 after acquiring an additional 3,045,657 shares during the last quarter. International Assets Investment Management LLC grew its holdings in Amgen by 6,812.4% during the 3rd quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock worth $8,130,610,000 after acquiring an additional 2,486,882 shares during the period. Finally, Janus Henderson Group PLC raised its position in shares of Amgen by 137.1% during the 1st quarter. Janus Henderson Group PLC now owns 2,381,133 shares of the medical research company’s stock valued at $676,984,000 after acquiring an additional 1,377,007 shares during the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Trading Down 1.8 %

Shares of Amgen stock opened at $295.93 on Friday. Amgen Inc. has a 12-month low of $260.52 and a 12-month high of $346.85. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. The business’s 50 day moving average is $322.15 and its 200-day moving average is $318.15. The stock has a market cap of $159.07 billion, a P/E ratio of 37.89, a P/E/G ratio of 2.67 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, beating analysts’ consensus estimates 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. Equities research analysts predict that Amgen Inc. will post 19.51 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be given a $2.25 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.04%. Amgen’s payout ratio is 115.24%.

Analysts Set New Price Targets

AMGN has been the topic of several recent research reports. Jefferies Financial Group reaffirmed a “buy” rating and set a $380.00 price objective on shares of Amgen in a research note on Tuesday. Robert W. Baird restated an “underperform” rating and set a $215.00 target price on shares of Amgen in a research report on Wednesday, September 25th. Wells Fargo & Company downgraded shares of Amgen from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $320.00 to $335.00 in a research report on Wednesday, August 7th. TD Cowen boosted their price objective on shares of Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a report on Monday, October 21st. Finally, Truist Financial lowered shares of Amgen from a “buy” rating to a “hold” rating and increased their target price for the stock from $320.00 to $333.00 in a report on Monday, October 14th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $333.57.

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.