1620 Investment Advisors Inc. Decreases Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

1620 Investment Advisors Inc. cut its stake in Amgen Inc. (NASDAQ:AMGN) by 18.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 278 shares of the medical research company’s stock after selling 63 shares during the period. 1620 Investment Advisors Inc.’s holdings in Amgen were worth $90,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in AMGN. Strategic Financial Concepts LLC acquired a new position in Amgen in the second quarter valued at approximately $26,000. Hershey Financial Advisers LLC acquired a new position in shares of Amgen in the 2nd quarter valued at $30,000. nVerses Capital LLC acquired a new position in shares of Amgen in the 2nd quarter valued at $31,000. Bbjs Financial Advisors LLC purchased a new position in shares of Amgen during the 2nd quarter worth $33,000. Finally, Matrix Trust Co acquired a new stake in shares of Amgen during the 3rd quarter worth about $36,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Stock Down 0.1 %

Shares of NASDAQ AMGN opened at $315.54 on Thursday. The business has a 50-day moving average of $324.75 and a two-hundred day moving average of $314.78. The company has a market capitalization of $169.27 billion, a price-to-earnings ratio of 45.08, a price-to-earnings-growth ratio of 2.86 and a beta of 0.61. Amgen Inc. has a 1 year low of $249.70 and a 1 year high of $346.85. The company has a debt-to-equity ratio of 9.64, a current ratio of 1.26 and a quick ratio of 0.89.

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 analysts’ expectations of $8.50 billion. Amgen had a return on equity of 161.72% and a net margin of 10.12%. The firm’s revenue was up 23.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.96 earnings per share. On average, analysts forecast that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Investors 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 2.85%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s dividend payout ratio (DPR) is 128.57%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on AMGN shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $405.00 target price on shares of Amgen in a research report on Tuesday, October 22nd. TD Cowen increased their price objective on shares of Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Bank of America boosted their target price on Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Robert W. Baird reaffirmed an “underperform” rating and issued a $215.00 price objective on shares of Amgen in a research note on Wednesday, September 25th. Finally, Sanford C. Bernstein assumed coverage on Amgen in a report on Thursday, October 17th. They issued an “outperform” rating and a $380.00 price objective on the stock. One analyst has rated the stock with a sell rating, eleven have assigned 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, Amgen has an average rating of “Moderate Buy” and a consensus target price of $332.55.

Amgen Company 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.