King Wealth Management Group Trims Position in Amgen Inc. (NASDAQ:AMGN)

King Wealth Management Group trimmed its stake in Amgen Inc. (NASDAQ:AMGN) by 7.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,059 shares of the medical research company’s stock after selling 497 shares during the period. King Wealth Management Group’s holdings in Amgen were worth $1,952,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in AMGN. Meyer Handelman Co. raised its position in Amgen by 7.2% during the 2nd quarter. Meyer Handelman Co. now owns 129,831 shares of the medical research company’s stock valued at $40,566,000 after purchasing an additional 8,700 shares in the last quarter. EP Wealth Advisors LLC increased its stake in shares of Amgen by 11.0% during the first quarter. EP Wealth Advisors LLC now owns 23,769 shares of the medical research company’s stock valued at $6,758,000 after buying an additional 2,353 shares during the period. Cornerstone Capital Inc. raised its holdings in shares of Amgen by 3.2% in the third quarter. Cornerstone Capital Inc. now owns 106,538 shares of the medical research company’s stock valued at $34,328,000 after acquiring an additional 3,260 shares in the last quarter. Stanley Laman Group Ltd. purchased a new stake in Amgen in the second quarter worth about $3,354,000. Finally, Verity & Verity LLC increased its position in Amgen by 2.7% during the 2nd quarter. Verity & Verity LLC now owns 82,368 shares of the medical research company’s stock valued at $25,736,000 after purchasing an additional 2,182 shares during the period. 76.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on AMGN shares. UBS Group dropped their price objective on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Dbs Bank upgraded Amgen to a “strong-buy” rating in a report on Monday, September 16th. Wolfe Research assumed coverage on Amgen in a research note on Friday. They set a “peer perform” rating for the company. Wells Fargo & Company lowered Amgen from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $320.00 to $335.00 in a research note on Wednesday, August 7th. Finally, StockNews.com upgraded shares of Amgen from a “buy” rating to a “strong-buy” rating in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Amgen currently has a consensus rating of “Moderate Buy” and an average price target of $333.57.

Amgen Stock Down 1.8 %

Shares of AMGN stock opened at $295.93 on Friday. Amgen Inc. has a twelve month low of $260.52 and a twelve month high of $346.85. The stock has a market cap of $159.07 billion, a P/E ratio of 37.89, a P/E/G ratio of 2.69 and a beta of 0.60. The stock has a 50 day moving average of $322.15 and a 200 day moving average of $318.15. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55.

Amgen (NASDAQ:AMGN) last posted its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, beating 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 net margin of 13.00% and a return on equity of 168.35%. The business’s revenue was up 23.2% compared to the same quarter last year. During the same period in the previous year, the business posted $4.96 EPS. As a group, sell-side analysts expect that Amgen Inc. will post 19.51 EPS for the current year.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be paid a $2.25 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $9.00 annualized dividend and a dividend yield of 3.04%. Amgen’s dividend 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.