Cornell Pochily Investment Advisors Inc. Sells 45 Shares of Amgen Inc. (NASDAQ:AMGN)

Cornell Pochily Investment Advisors Inc. lessened its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 0.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,769 shares of the medical research company’s stock after selling 45 shares during the period. Amgen accounts for approximately 0.9% of Cornell Pochily Investment Advisors Inc.’s holdings, making the stock its 27th biggest position. Cornell Pochily Investment Advisors Inc.’s holdings in Amgen were worth $2,503,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AMGN. Hershey Financial Advisers LLC purchased a new stake in Amgen in the second quarter worth about $30,000. nVerses Capital LLC purchased a new stake in shares of Amgen in the 2nd quarter worth approximately $31,000. Bbjs Financial Advisors LLC bought a new position in Amgen during the 2nd quarter valued at approximately $33,000. Matrix Trust Co purchased a new position in Amgen during the third quarter valued at $36,000. Finally, FSA Wealth Management LLC boosted its holdings in Amgen by 182.0% in the first quarter. FSA Wealth Management LLC now owns 141 shares of the medical research company’s stock worth $40,000 after acquiring an additional 91 shares in the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Stock Down 1.1 %

Shares of AMGN stock opened at $324.62 on Tuesday. The company has a 50 day simple moving average of $326.05 and a two-hundred day simple moving average of $311.20. The stock has a market cap of $174.14 billion, a P/E ratio of 46.37, a P/E/G ratio of 2.86 and a beta of 0.61. Amgen Inc. has a 12 month low of $249.70 and a 12 month high of $346.85. 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 announced its 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 return on equity of 161.72% and a net margin of 10.12%. The company had revenue of $8.39 billion during the quarter, compared to the consensus estimate of $8.35 billion. During the same period in the prior year, the business posted $5.00 earnings per share. Amgen’s revenue for the quarter was up 20.1% compared to the same quarter last year. On average, research analysts expect that Amgen Inc. will post 19.49 earnings per share for the current year.

Amgen Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms have recently issued reports on AMGN. Jefferies Financial Group reaffirmed a “buy” rating and issued a $380.00 price target (up previously from $375.00) on shares of Amgen in a research report on Wednesday, August 7th. Morgan Stanley decreased their target price on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a report on Thursday, July 11th. Argus increased their price target on shares of Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a report on Thursday, June 27th. TD Cowen boosted their price objective on shares of Amgen from $360.00 to $381.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Finally, Barclays increased their target price on Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. 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’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $326.95.

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.