Creative Financial Designs Inc. ADV Trims Stake in Amgen Inc. (NASDAQ:AMGN)

Creative Financial Designs Inc. ADV decreased its position in shares of Amgen Inc. (NASDAQ:AMGN) by 0.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,149 shares of the medical research company’s stock after selling 32 shares during the period. Creative Financial Designs Inc. ADV’s holdings in Amgen were worth $1,659,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Strategic Financial Concepts LLC acquired a new position in Amgen during the 2nd quarter valued at approximately $26,000. Hershey Financial Advisers LLC purchased a new position in Amgen in the 2nd quarter valued at $30,000. nVerses Capital LLC purchased a new stake in shares of Amgen during the 2nd quarter valued at approximately $31,000. Bbjs Financial Advisors LLC acquired a new position in shares of Amgen in the 2nd quarter worth approximately $33,000. Finally, Matrix Trust Co acquired a new position in Amgen in the 3rd quarter valued at about $36,000. 76.50% of the stock is owned by institutional investors.

Amgen Price Performance

AMGN stock opened at $319.22 on Friday. The firm has a 50-day moving average of $324.47 and a two-hundred day moving average of $315.19. Amgen Inc. has a one year low of $260.52 and a one year high of $346.85. The firm has a market capitalization of $171.53 billion, a PE ratio of 40.87, a P/E/G ratio of 2.84 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) last released its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, beating the consensus estimate of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 181.58%. The business had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. During the same quarter last year, the company earned $4.96 earnings per share. The firm’s revenue was up 23.2% on a year-over-year basis. On average, analysts forecast that Amgen Inc. will post 19.48 earnings per share for the current year.

Amgen Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. TD Cowen boosted their target price on Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a report on Monday, October 21st. Dbs Bank upgraded Amgen to a “strong-buy” rating in a research note on Monday, September 16th. Truist Financial downgraded Amgen from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $320.00 to $333.00 in a research report on Monday, October 14th. UBS Group reduced their price target on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a research report on Thursday. Finally, Bank of America lifted their price objective on Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $333.50.

About Amgen

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.