Brady Family Wealth LLC Sells 217 Shares of Amgen Inc. (NASDAQ:AMGN)

Brady Family Wealth LLC reduced its stake in Amgen Inc. (NASDAQ:AMGN) by 1.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,068 shares of the medical research company’s stock after selling 217 shares during the period. Amgen accounts for 1.7% of Brady Family Wealth LLC’s holdings, making the stock its 19th biggest holding. Brady Family Wealth LLC’s holdings in Amgen were worth $5,822,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. First United Bank & Trust increased its position in shares of Amgen by 2.1% during the third quarter. First United Bank & Trust now owns 6,258 shares of the medical research company’s stock worth $2,016,000 after acquiring an additional 126 shares in the last quarter. Regatta Capital Group LLC increased its position in shares of Amgen by 2.7% during the third quarter. Regatta Capital Group LLC now owns 6,083 shares of the medical research company’s stock worth $1,960,000 after acquiring an additional 159 shares in the last quarter. Magnus Financial Group LLC increased its position in shares of Amgen by 15.2% during the third quarter. Magnus Financial Group LLC now owns 896 shares of the medical research company’s stock worth $289,000 after acquiring an additional 118 shares in the last quarter. Lockerman Financial Group Inc. increased its position in shares of Amgen by 4.4% during the third quarter. Lockerman Financial Group Inc. now owns 1,261 shares of the medical research company’s stock worth $406,000 after acquiring an additional 53 shares in the last quarter. Finally, Members Trust Co increased its position in shares of Amgen by 6.8% during the third quarter. Members Trust Co now owns 1,655 shares of the medical research company’s stock worth $533,000 after acquiring an additional 105 shares in the last quarter. 76.50% of the stock is owned by institutional investors.

Amgen Stock Performance

Shares of AMGN stock opened at $325.09 on Wednesday. The stock has a market capitalization of $174.39 billion, a P/E ratio of 46.44, a PEG 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. The firm’s 50 day moving average is $325.97 and its 200 day moving average is $311.49. Amgen Inc. has a 12 month low of $249.70 and a 12 month high of $346.85.

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

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were paid a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s dividend payout ratio is presently 128.57%.

Wall Street Analyst Weigh In

Several research firms have recently commented on AMGN. Argus boosted their target price on shares of Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Morgan Stanley reduced their price objective on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a research report on Thursday, July 11th. Barclays upped their price objective on shares of Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Oppenheimer reaffirmed an “outperform” rating and issued a $380.00 price objective on shares of Amgen in a research report on Wednesday, August 7th. Finally, Dbs Bank raised shares of Amgen to a “strong-buy” rating in a research report on Monday, September 16th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $326.95.

Amgen 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.