LVW Advisors LLC Sells 295 Shares of Amgen Inc. (NASDAQ:AMGN)

by · The Cerbat Gem

LVW Advisors LLC trimmed its position in Amgen Inc. (NASDAQ:AMGN – Free Report) by 4.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,056 shares of the medical research company’s stock after selling 295 shares during the period. LVW Advisors LLC’s holdings in Amgen were worth $2,273,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in AMGN. Grassi Investment Management purchased a new position in Amgen during the first quarter worth about $2,283,000. Public Employees Retirement System of Ohio increased its position in shares of Amgen by 1.6% in the fourth quarter. Public Employees Retirement System of Ohio now owns 281,791 shares of the medical research company’s stock worth $81,161,000 after purchasing an additional 4,376 shares during the last quarter. Meyer Handelman Co. increased its position in shares of Amgen by 7.2% in the second quarter. Meyer Handelman Co. now owns 129,831 shares of the medical research company’s stock worth $40,566,000 after purchasing an additional 8,700 shares during the last quarter. Chicago Partners Investment Group LLC lifted its position in Amgen by 1.3% during the fourth quarter. Chicago Partners Investment Group LLC now owns 4,543 shares of the medical research company’s stock valued at $1,388,000 after purchasing an additional 57 shares during the last quarter. Finally, Novak & Powell Financial Services Inc. bought a new stake in Amgen during the fourth quarter valued at approximately $803,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Trading Up 0.5 %

Shares of AMGN stock traded up $1.53 during trading hours on Friday, reaching $322.54. The company’s stock had a trading volume of 235,813 shares, compared to its average volume of 2,460,031. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 9.64. Amgen Inc. has a one year low of $249.70 and a one year high of $346.85. The stock has a market capitalization of $173.31 billion, a P/E ratio of 55.25, a P/E/G ratio of 2.86 and a beta of 0.61. The firm’s fifty day simple moving average is $326.17 and its 200 day simple moving average is $310.22.

Amgen (NASDAQ:AMGN – Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share for the quarter, missing the consensus estimate of $5.01 by ($0.04). Amgen had a net margin of 10.12% and a return on equity of 161.72%. The company had revenue of $8.39 billion during the quarter, compared to the consensus estimate of $8.35 billion. During the same quarter last year, the firm earned $5.00 EPS. The business’s revenue was up 20.1% on a year-over-year basis. Equities research analysts expect that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date was Friday, August 16th. Amgen’s payout ratio is currently 154.91%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $305.00 price objective (down previously from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. Wells Fargo & Company cut Amgen from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $320.00 to $335.00 in a report on Wednesday, August 7th. Oppenheimer reissued an “outperform” rating and set a $380.00 price objective on shares of Amgen in a report on Wednesday, August 7th. Morgan Stanley cut their target price on Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a research note on Thursday, July 11th. Finally, Bank of America lifted their target price on shares of Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $326.30.

View Our Latest Analysis on AMGN

About Amgen

(Free Report)

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.

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