Mill Creek Capital Advisors LLC Has $1.21 Million Position in Amgen Inc. (NASDAQ:AMGN)

Mill Creek Capital Advisors LLC cut its holdings in Amgen Inc. (NASDAQ:AMGN) by 9.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,744 shares of the medical research company’s stock after selling 371 shares during the quarter. Mill Creek Capital Advisors LLC’s holdings in Amgen were worth $1,206,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. M&G Plc acquired a new position in shares of Amgen during the 1st quarter worth about $7,633,000. Patten & Patten Inc. TN increased its stake in Amgen by 4.6% in the first quarter. Patten & Patten Inc. TN now owns 3,104 shares of the medical research company’s stock valued at $883,000 after purchasing an additional 136 shares in the last quarter. Edgestream Partners L.P. raised its holdings in Amgen by 218.0% in the first quarter. Edgestream Partners L.P. now owns 12,434 shares of the medical research company’s stock worth $3,535,000 after purchasing an additional 8,524 shares during the period. Hillsdale Investment Management Inc. boosted its position in shares of Amgen by 44.3% during the first quarter. Hillsdale Investment Management Inc. now owns 1,400 shares of the medical research company’s stock worth $398,000 after purchasing an additional 430 shares in the last quarter. Finally, Trustmark National Bank Trust Department grew its holdings in shares of Amgen by 6.5% in the 1st quarter. Trustmark National Bank Trust Department now owns 31,204 shares of the medical research company’s stock valued at $8,872,000 after buying an additional 1,909 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

AMGN has been the topic of several research analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $405.00 price objective on shares of Amgen in a research note on Tuesday, October 22nd. Citigroup assumed coverage on Amgen in a research report on Thursday. They set a “neutral” rating and a $335.00 price target on the stock. Sanford C. Bernstein assumed coverage on Amgen in a report on Thursday, October 17th. They set an “outperform” rating and a $380.00 price objective on the stock. Dbs Bank raised Amgen to a “strong-buy” rating in a research note on Monday, September 16th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $362.00 price target on shares of Amgen in a research note on Thursday, September 26th. One equities research 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 data from MarketBeat, Amgen presently has an average rating of “Moderate Buy” and an average target price of $333.57.

Amgen Stock Down 4.2 %

AMGN stock opened at $283.61 on Friday. Amgen Inc. has a twelve month low of $260.52 and a twelve month high of $346.85. The company has a market cap of $152.45 billion, a price-to-earnings ratio of 36.31, a P/E/G ratio of 2.69 and a beta of 0.60. 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 has a 50 day moving average price of $320.85 and a two-hundred day moving average price of $318.36.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.11 by $0.47. The firm had revenue of $8.50 billion for 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 company’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.96 earnings per share. Analysts anticipate that Amgen Inc. will post 19.51 EPS for the current fiscal year.

Amgen Dividend Announcement

The business also recently disclosed 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 annualized dividend and a dividend yield of 3.17%. The ex-dividend date 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.