Carlton Hofferkamp & Jenks Wealth Management LLC Lowers Position in Amgen Inc. (NASDAQ:AMGN)

Carlton Hofferkamp & Jenks Wealth Management LLC reduced its position in Amgen Inc. (NASDAQ:AMGN) by 1.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,789 shares of the medical research company’s stock after selling 71 shares during the quarter. Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings in Amgen were worth $1,518,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Keynote Financial Services LLC lifted its holdings in Amgen by 0.6% during the 2nd quarter. Keynote Financial Services LLC now owns 4,898 shares of the medical research company’s stock worth $1,530,000 after buying an additional 30 shares during the last quarter. Ascent Group LLC lifted its stake in Amgen by 0.3% during the second quarter. Ascent Group LLC now owns 10,949 shares of the medical research company’s stock worth $3,421,000 after purchasing an additional 31 shares during the last quarter. RFP Financial Group LLC boosted its holdings in Amgen by 17.1% in the first quarter. RFP Financial Group LLC now owns 219 shares of the medical research company’s stock worth $62,000 after purchasing an additional 32 shares during the period. Hofer & Associates. Inc increased its stake in Amgen by 0.5% during the second quarter. Hofer & Associates. Inc now owns 6,477 shares of the medical research company’s stock valued at $2,024,000 after purchasing an additional 32 shares during the last quarter. Finally, Cadinha & Co. LLC increased its stake in Amgen by 0.6% during the third quarter. Cadinha & Co. LLC now owns 5,209 shares of the medical research company’s stock valued at $1,678,000 after purchasing an additional 32 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on AMGN shares. Dbs Bank raised shares of Amgen to a “strong-buy” rating in a research report on Monday, September 16th. Bank of America increased their price target on Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. StockNews.com raised Amgen from a “buy” rating to a “strong-buy” rating in a report on Friday, November 1st. Royal Bank of Canada restated an “outperform” rating and set a $362.00 price objective on shares of Amgen in a research note on Thursday, September 26th. Finally, Sanford C. Bernstein started coverage on Amgen in a research note on Thursday, October 17th. They issued an “outperform” rating and a $380.00 target price on the stock. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Amgen has a consensus rating of “Moderate Buy” and a consensus target price of $333.50.

Amgen Price Performance

NASDAQ:AMGN opened at $298.84 on Wednesday. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. The business’s 50-day moving average price is $322.74 and its 200 day moving average price is $318.27. Amgen Inc. has a 52-week low of $260.52 and a 52-week high of $346.85. The firm has a market cap of $160.64 billion, a P/E ratio of 38.26, a PEG ratio of 2.87 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last released its earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, beating the consensus estimate of $5.11 by $0.47. The business had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The business’s quarterly revenue was up 23.2% on a year-over-year basis. During the same period in the prior year, the business earned $4.96 earnings per share. 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 18th will be issued a dividend of $2.25 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $9.00 annualized dividend and a yield of 3.01%. Amgen’s payout ratio is presently 115.24%.

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.