Ellis Investment Partners LLC Sells 215 Shares of Amgen Inc. (NASDAQ:AMGN)

by · The Markets Daily

Ellis Investment Partners LLC trimmed its holdings in shares of Amgen Inc. (NASDAQ:AMGN – Free Report) by 6.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,269 shares of the medical research company’s stock after selling 215 shares during the quarter. Ellis Investment Partners LLC’s holdings in Amgen were worth $1,053,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Keynote Financial Services LLC raised its holdings in Amgen by 0.6% in the 2nd quarter. Keynote Financial Services LLC now owns 4,898 shares of the medical research company’s stock worth $1,530,000 after purchasing an additional 30 shares during the period. Ascent Group LLC raised its stake in shares of Amgen by 0.3% in the second quarter. Ascent Group LLC now owns 10,949 shares of the medical research company’s stock worth $3,421,000 after buying an additional 31 shares during the period. RFP Financial Group LLC lifted its position in shares of Amgen by 17.1% during the 1st quarter. RFP Financial Group LLC now owns 219 shares of the medical research company’s stock valued at $62,000 after buying an additional 32 shares in the last quarter. Hofer & Associates. Inc grew its stake in shares of Amgen by 0.5% during the 2nd quarter. Hofer & Associates. Inc now owns 6,477 shares of the medical research company’s stock valued at $2,024,000 after acquiring an additional 32 shares during the period. Finally, Cadinha & Co. LLC raised its stake in Amgen by 0.6% during the 3rd quarter. Cadinha & Co. LLC now owns 5,209 shares of the medical research company’s stock worth $1,678,000 after acquiring an additional 32 shares during the period. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Trading Up 0.4 %

Shares of NASDAQ AMGN traded up $1.29 during trading hours on Friday, hitting $316.98. 1,604,649 shares of the company traded hands, compared to its average volume of 2,427,964. The company’s 50 day moving average price is $325.49 and its 200 day moving average price is $313.77. Amgen Inc. has a 12 month low of $249.70 and a 12 month high of $346.85. The stock has a market capitalization of $170.04 billion, a price-to-earnings ratio of 45.28, a price-to-earnings-growth ratio of 2.86 and a beta of 0.61. 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 (NASDAQ:AMGN – Get Free Report) last released its earnings results 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). The firm had revenue of $8.39 billion during the quarter, compared to the consensus estimate of $8.35 billion. Amgen had a return on equity of 161.72% and a net margin of 10.12%. Amgen’s revenue was up 20.1% compared to the same quarter last year. During the same quarter last year, the business posted $5.00 EPS. On average, equities research analysts anticipate that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be paid 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 128.57%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Barclays increased their price objective on shares of Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Morgan Stanley lowered their price objective on Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 11th. Oppenheimer reaffirmed an “outperform” rating and issued a $380.00 price objective on shares of Amgen in a research note on Wednesday, August 7th. Jefferies Financial Group reissued a “buy” rating and set a $380.00 target price (up previously from $375.00) on shares of Amgen in a research note on Wednesday, August 7th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $362.00 price target on shares of Amgen in a research note on Thursday, September 26th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Amgen presently has a consensus rating of “Moderate Buy” and a consensus target price of $332.55.

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.

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