Naviter Wealth LLC Decreases Position in Amgen Inc. (NASDAQ:AMGN)

Naviter Wealth LLC lessened its position in Amgen Inc. (NASDAQ:AMGN) by 2.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,313 shares of the medical research company’s stock after selling 152 shares during the quarter. Naviter Wealth LLC’s holdings in Amgen were worth $1,712,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Hershey Financial Advisers LLC acquired a new stake in Amgen during the 2nd quarter worth $30,000. nVerses Capital LLC acquired a new position in Amgen during the second quarter worth about $31,000. Bbjs Financial Advisors LLC purchased a new stake in Amgen during the 2nd quarter valued at about $33,000. Matrix Trust Co acquired a new stake in Amgen in the 3rd quarter valued at about $36,000. Finally, FSA Wealth Management LLC lifted its stake in Amgen by 182.0% in the 1st quarter. FSA Wealth Management LLC now owns 141 shares of the medical research company’s stock worth $40,000 after purchasing an additional 91 shares in the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Stock Performance

NASDAQ AMGN traded up $0.46 on Thursday, hitting $322.09. 63,463 shares of the company’s stock were exchanged, compared to its average volume of 2,444,613. The company has a debt-to-equity ratio of 9.64, a current ratio of 1.26 and a quick ratio of 0.89. The firm’s 50-day moving average price is $326.15 and its two-hundred day moving average price is $311.56. The firm has a market cap of $172.78 billion, a price-to-earnings ratio of 45.95, a P/E/G ratio of 2.86 and a beta of 0.61. Amgen Inc. has a fifty-two week low of $249.70 and a fifty-two week high of $346.85.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data 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). Amgen had a return on equity of 161.72% and a net margin of 10.12%. The business had revenue of $8.39 billion during the quarter, compared to analysts’ expectations of $8.35 billion. During the same quarter in the previous year, the company posted $5.00 EPS. The company’s revenue was up 20.1% compared to the same quarter last year. On average, research analysts expect that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were issued a dividend of $2.25 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $9.00 annualized dividend and a yield of 2.79%. Amgen’s dividend payout ratio is presently 128.57%.

Analyst Upgrades and Downgrades

AMGN has been the subject of several recent research reports. Oppenheimer reaffirmed an “outperform” rating and issued a $380.00 price target on shares of Amgen in a report on Wednesday, August 7th. Wells Fargo & Company downgraded shares of Amgen from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $320.00 to $335.00 in a report on Wednesday, August 7th. Robert W. Baird reiterated an “underperform” rating and issued a $215.00 price objective on shares of Amgen in a report on Wednesday, September 25th. Sanford C. Bernstein started coverage on Amgen in a research note on Thursday. They set an “outperform” rating and a $380.00 target price for the company. Finally, 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 note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $329.48.

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.