Amgen Inc. (NASDAQ:AMGN) Position Reduced by Nicolet Advisory Services LLC

Nicolet Advisory Services LLC reduced its position in shares of Amgen Inc. (NASDAQ:AMGN) by 5.3% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,803 shares of the medical research company’s stock after selling 101 shares during the quarter. Nicolet Advisory Services LLC’s holdings in Amgen were worth $572,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of AMGN. Montrusco Bolton Investments Inc. boosted its stake in Amgen by 2.0% during the third quarter. Montrusco Bolton Investments Inc. now owns 1,588,440 shares of the medical research company’s stock valued at $500,527,000 after buying an additional 30,731 shares in the last quarter. Nwam LLC lifted its holdings in Amgen by 1.2% in the 3rd quarter. Nwam LLC now owns 17,227 shares of the medical research company’s stock valued at $5,551,000 after acquiring an additional 196 shares during the last quarter. Meridian Wealth Management LLC bought a new position in shares of Amgen during the 3rd quarter valued at about $5,106,000. Icon Wealth Advisors LLC grew its stake in shares of Amgen by 3,955.0% in the 3rd quarter. Icon Wealth Advisors LLC now owns 174,040 shares of the medical research company’s stock worth $56,000 after purchasing an additional 169,748 shares during the last quarter. Finally, Biltmore Family Office LLC raised its holdings in shares of Amgen by 4.6% in the 3rd quarter. Biltmore Family Office LLC now owns 3,024 shares of the medical research company’s stock worth $974,000 after purchasing an additional 133 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Price Performance

NASDAQ AMGN opened at $294.53 on Friday. The firm has a market cap of $158.32 billion, a P/E ratio of 37.71, a price-to-earnings-growth ratio of 2.59 and a beta of 0.60. The stock’s 50-day moving average is $316.52 and its two-hundred day moving average is $318.11. Amgen Inc. has a fifty-two week low of $260.68 and a fifty-two week high of $346.85. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96.

Amgen (NASDAQ:AMGN) last posted its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share 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 analyst estimates of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The company’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same period in the previous year, the company earned $4.96 EPS. On average, analysts anticipate that Amgen Inc. will post 19.52 earnings per share for the current fiscal year.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Shareholders 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 3.06%. The ex-dividend date is Monday, November 18th. Amgen’s dividend payout ratio (DPR) is 115.24%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on AMGN shares. Wolfe Research began coverage on Amgen in a report on Friday, November 15th. They issued a “peer perform” rating on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $362.00 target price on shares of Amgen in a report on Thursday, September 26th. Dbs Bank upgraded shares of Amgen to a “strong-buy” rating in a research report on Monday, September 16th. Truist Financial cut shares of Amgen from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $320.00 to $333.00 in a research report on Monday, October 14th. Finally, StockNews.com upgraded Amgen from a “buy” rating to a “strong-buy” rating in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Amgen has an average rating of “Moderate Buy” and a consensus price target of $333.57.

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.