BSW Wealth Partners Reduces Stake in Amgen Inc. (NASDAQ:AMGN)

by · The Markets Daily

BSW Wealth Partners decreased its holdings in shares of Amgen Inc. (NASDAQ:AMGN – Free Report) by 13.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,290 shares of the medical research company’s stock after selling 343 shares during the quarter. BSW Wealth Partners’ holdings in Amgen were worth $738,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Angeles Wealth Management LLC lifted its position in shares of Amgen by 5.4% during the 3rd quarter. Angeles Wealth Management LLC now owns 873 shares of the medical research company’s stock worth $281,000 after buying an additional 45 shares during the last quarter. Van ECK Associates Corp grew its position in shares of Amgen by 7.0% in the 3rd quarter. Van ECK Associates Corp now owns 285,446 shares of the medical research company’s stock valued at $89,887,000 after buying an additional 18,573 shares during the last quarter. Lodestone Wealth Management LLC raised its stake in Amgen by 2.5% during the 3rd quarter. Lodestone Wealth Management LLC now owns 14,633 shares of the medical research company’s stock worth $4,715,000 after acquiring an additional 361 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position in Amgen by 0.5% in the third quarter. Harbor Capital Advisors Inc. now owns 11,427 shares of the medical research company’s stock valued at $3,682,000 after acquiring an additional 54 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in Amgen by 1.8% in the third quarter. Janney Montgomery Scott LLC now owns 434,718 shares of the medical research company’s stock valued at $140,071,000 after acquiring an additional 7,516 shares in the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Stock Performance

Shares of AMGN stock traded down $0.94 during trading hours on Friday, reaching $319.22. 1,826,772 shares of the company’s stock were exchanged, compared to its average volume of 2,418,089. 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 company’s 50 day moving average is $324.47 and its two-hundred day moving average is $315.54. The company has a market cap of $171.53 billion, a P/E ratio of 40.87, a price-to-earnings-growth ratio of 2.84 and a beta of 0.61. Amgen Inc. has a 1 year low of $260.52 and a 1 year high of $346.85.

Amgen (NASDAQ:AMGN – Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (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 analysts’ expectations of $8.50 billion. Amgen had a return on equity of 181.58% and a net margin of 13.00%. Amgen’s revenue was up 23.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.96 earnings per share. Equities research analysts anticipate that Amgen Inc. will post 19.48 EPS for the current fiscal year.

Amgen Dividend Announcement

The business also recently disclosed 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 yield of 2.82%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s dividend payout ratio is currently 115.24%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Sanford C. Bernstein assumed coverage on Amgen in a research report on Thursday, October 17th. They set an “outperform” rating and a $380.00 target price on the stock. Morgan Stanley reduced their price objective 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. Royal Bank of Canada reissued an “outperform” rating and issued a $362.00 price objective on shares of Amgen in a report on Thursday, September 26th. Wells Fargo & Company cut shares of Amgen from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $320.00 to $335.00 in a report on Wednesday, August 7th. Finally, Dbs Bank upgraded shares of Amgen to a “strong-buy” rating in a research report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $333.50.

Check Out Our Latest Analysis on AMGN

Amgen Profile

(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.

See Also

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