McElhenny Sheffield Capital Management LLC Sells 76 Shares of Amgen Inc. (NASDAQ:AMGN)

McElhenny Sheffield Capital Management LLC lowered its position in Amgen Inc. (NASDAQ:AMGN) by 3.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,134 shares of the medical research company’s stock after selling 76 shares during the quarter. Amgen makes up about 0.2% of McElhenny Sheffield Capital Management LLC’s portfolio, making the stock its 29th biggest position. McElhenny Sheffield Capital Management LLC’s holdings in Amgen were worth $688,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Penn Davis Mcfarland Inc. increased its position in Amgen by 1,176.7% during the 3rd quarter. Penn Davis Mcfarland Inc. now owns 19,150 shares of the medical research company’s stock valued at $6,170,000 after purchasing an additional 17,650 shares during the period. Brown Lisle Cummings Inc. boosted its stake in shares of Amgen by 2.2% during the third quarter. Brown Lisle Cummings Inc. now owns 22,692 shares of the medical research company’s stock valued at $7,312,000 after purchasing an additional 485 shares in the last quarter. McClarren Financial Advisors Inc. boosted its stake in shares of Amgen by 98.1% during the third quarter. McClarren Financial Advisors Inc. now owns 618 shares of the medical research company’s stock valued at $199,000 after purchasing an additional 306 shares in the last quarter. Cannon Financial Strategists Inc. increased its holdings in Amgen by 6.6% during the third quarter. Cannon Financial Strategists Inc. now owns 1,200 shares of the medical research company’s stock valued at $387,000 after buying an additional 74 shares during the period. Finally, Vest Financial LLC lifted its holdings in Amgen by 2.9% during the third quarter. Vest Financial LLC now owns 6,973 shares of the medical research company’s stock worth $2,247,000 after buying an additional 199 shares during the period. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Stock Performance

Shares of AMGN stock opened at $321.66 on Monday. Amgen Inc. has a 52-week low of $249.70 and a 52-week high of $346.85. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 9.64. The stock has a market cap of $172.55 billion, a PE ratio of 45.95, a price-to-earnings-growth ratio of 2.86 and a beta of 0.61. The business has a 50-day simple moving average of $326.07 and a 200-day simple moving average of $312.41.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 EPS for the quarter, missing the consensus estimate of $5.01 by ($0.04). The company had revenue of $8.39 billion during the quarter, compared to analysts’ expectations of $8.35 billion. Amgen had a return on equity of 161.72% and a net margin of 10.12%. The company’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $5.00 EPS. On average, equities analysts expect that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Announces Dividend

The company also recently disclosed 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 2.80%. Amgen’s dividend payout ratio (DPR) is currently 128.57%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on AMGN shares. Bank of America lifted their price target on Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. 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. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $305.00 price target (down from $310.00) on shares of Amgen in a report on Wednesday, August 7th. 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 note on Thursday, July 11th. Finally, Truist Financial downgraded shares of Amgen from a “buy” rating to a “hold” rating and raised their target price for the company from $320.00 to $333.00 in a research note on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $332.45.

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.