Amgen Inc. (NASDAQ:AMGN) Shares Sold by Buck Wealth Strategies LLC

Buck Wealth Strategies LLC lessened its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 11.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,337 shares of the medical research company’s stock after selling 2,606 shares during the quarter. Amgen makes up approximately 2.1% of Buck Wealth Strategies LLC’s holdings, making the stock its 26th largest holding. Buck Wealth Strategies LLC’s holdings in Amgen were worth $6,553,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new position in shares of Amgen during the third quarter valued at approximately $25,000. Hershey Financial Advisers LLC acquired a new stake in shares of Amgen during the second quarter worth $30,000. nVerses Capital LLC purchased a new stake in shares of Amgen in the second quarter valued at $31,000. Bbjs Financial Advisors LLC purchased a new position in Amgen during the second quarter worth about $33,000. Finally, Matrix Trust Co purchased a new stake in Amgen in the 3rd quarter valued at about $36,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AMGN has been the subject of several research analyst reports. TD Cowen upped their price target 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. William Blair restated an “outperform” rating on shares of Amgen in a report on Tuesday. Bank of America increased their target price on shares of Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Wells Fargo & Company lowered Amgen from an “overweight” rating to an “equal weight” rating and increased their target price for the company from $320.00 to $335.00 in a research note on Wednesday, August 7th. Finally, Robert W. Baird reaffirmed an “underperform” rating and set a $215.00 target price on shares of Amgen in a research report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Amgen currently has an average rating of “Moderate Buy” and an average target price of $333.50.

Amgen Price Performance

Shares of NASDAQ AMGN opened at $298.84 on Wednesday. Amgen Inc. has a fifty-two week low of $260.52 and a fifty-two week high of $346.85. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. The business has a 50-day moving average of $323.37 and a 200-day moving average of $318.07. The stock has a market capitalization of $160.64 billion, a price-to-earnings ratio of 38.26, a PEG ratio of 2.90 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, beating the consensus estimate of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The firm had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.50 billion. During the same period in the prior year, the firm earned $4.96 EPS. The business’s revenue was up 23.2% on a year-over-year basis. As a group, sell-side analysts predict that Amgen Inc. will post 19.51 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 18th will be paid a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 3.01%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s payout ratio is presently 115.24%.

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.