Joel Isaacson & Co. LLC Sells 306 Shares of Amgen Inc. (NASDAQ:AMGN)

Joel Isaacson & Co. LLC lessened its stake in Amgen Inc. (NASDAQ:AMGN) by 4.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,049 shares of the medical research company’s stock after selling 306 shares during the period. Joel Isaacson & Co. LLC’s holdings in Amgen were worth $1,949,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hershey Financial Advisers LLC bought a new position in shares of Amgen during the 2nd quarter worth approximately $30,000. nVerses Capital LLC bought a new position in shares of Amgen in the second quarter worth $31,000. Bbjs Financial Advisors LLC bought a new stake in shares of Amgen during the 2nd quarter valued at about $33,000. Matrix Trust Co bought a new stake in Amgen during the third quarter valued at approximately $36,000. Finally, FSA Wealth Management LLC boosted its stake 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 buying an additional 91 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AMGN. Dbs Bank upgraded Amgen to a “strong-buy” rating in a report on Monday, September 16th. Cantor Fitzgerald restated an “overweight” rating and set a $405.00 target price on shares of Amgen in a research report on Tuesday. Barclays boosted their price objective on Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Wells Fargo & Company downgraded Amgen from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $320.00 to $335.00 in a research report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $305.00 target price (down previously from $310.00) on shares of Amgen in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $332.55.

Amgen Stock Up 0.4 %

AMGN opened at $316.98 on Friday. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 9.64. Amgen Inc. has a twelve month low of $249.70 and a twelve month high of $346.85. The company has a market cap of $170.04 billion, a PE ratio of 45.28, a price-to-earnings-growth ratio of 2.86 and a beta of 0.61. The company has a 50-day moving average price of $325.49 and a 200 day moving average price of $313.47.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share for the quarter, missing the consensus estimate of $5.01 by ($0.04). Amgen had a net margin of 10.12% and a return on equity of 161.72%. The firm had revenue of $8.39 billion during the quarter, compared to analysts’ expectations of $8.35 billion. During the same quarter last year, the business earned $5.00 EPS. The business’s revenue was up 20.1% compared to the same quarter last year. Sell-side analysts expect that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be given a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.84%. Amgen’s dividend payout ratio (DPR) is 128.57%.

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.