River Wealth Advisors LLC trimmed its stake in Amgen, Inc. (NASDAQ:AMGN) by 6.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,114 shares of the medical research company’s stock after selling 1,044 shares during the quarter. Amgen makes up about 1.1% of River Wealth Advisors LLC’s portfolio, making the stock its 27th biggest holding. River Wealth Advisors LLC’s holdings in Amgen were worth $2,926,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently bought and sold shares of the business. Cornerstone Wealth Management LLC raised its position in Amgen by 20,035.7% in the 2nd quarter. Cornerstone Wealth Management LLC now owns 287,337 shares of the medical research company’s stock valued at $1,551,000 after purchasing an additional 285,910 shares during the last quarter. Moloney Securities Asset Management LLC raised its position in Amgen by 8.4% in the 2nd quarter. Moloney Securities Asset Management LLC now owns 10,341 shares of the medical research company’s stock valued at $1,909,000 after purchasing an additional 805 shares during the last quarter. Kaizen Advisory LLC raised its position in Amgen by 124.4% in the 2nd quarter. Kaizen Advisory LLC now owns 1,566 shares of the medical research company’s stock valued at $289,000 after purchasing an additional 868 shares during the last quarter. Iberiabank Corp raised its position in Amgen by 8.3% in the 2nd quarter. Iberiabank Corp now owns 25,968 shares of the medical research company’s stock valued at $4,793,000 after purchasing an additional 1,989 shares during the last quarter. Finally, Alpha Cubed Investments LLC raised its position in Amgen by 0.8% in the 2nd quarter. Alpha Cubed Investments LLC now owns 101,376 shares of the medical research company’s stock valued at $18,713,000 after purchasing an additional 818 shares during the last quarter. Hedge funds and other institutional investors own 77.91% of the company’s stock.
Shares of Amgen stock opened at $201.42 on Thursday. The firm has a market cap of $125.60 billion, a price-to-earnings ratio of 16.01, a PEG ratio of 2.05 and a beta of 1.37. The company has a quick ratio of 2.84, a current ratio of 3.08 and a debt-to-equity ratio of 2.05. Amgen, Inc. has a one year low of $163.31 and a one year high of $210.19.
Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, October 30th. The medical research company reported $3.69 EPS for the quarter, topping the Zacks’ consensus estimate of $3.45 by $0.24. Amgen had a net margin of 9.44% and a return on equity of 54.14%. The company had revenue of $5.90 billion during the quarter, compared to the consensus estimate of $5.78 billion. During the same quarter in the prior year, the firm earned $3.27 EPS. Amgen’s quarterly revenue was up 2.3% on a year-over-year basis. On average, equities research analysts forecast that Amgen, Inc. will post 14.24 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 7th. Stockholders of record on Friday, November 16th will be paid a dividend of $1.32 per share. The ex-dividend date of this dividend is Thursday, November 15th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 2.62%. Amgen’s dividend payout ratio (DPR) is presently 41.97%.
Several analysts recently commented on the stock. Oppenheimer reiterated a “buy” rating and issued a $224.00 price target on shares of Amgen in a research report on Tuesday, October 2nd. Jefferies Financial Group reiterated a “buy” rating and issued a $220.00 price target on shares of Amgen in a research report on Friday, August 24th. Morgan Stanley upped their price target on shares of Amgen from $210.00 to $212.00 and gave the company an “overweight” rating in a research report on Thursday, October 11th. Leerink Swann set a $209.00 price target on shares of Amgen and gave the company a “hold” rating in a research report on Monday, September 17th. Finally, Cantor Fitzgerald reiterated a “hold” rating and issued a $223.00 price target on shares of Amgen in a research report on Wednesday, October 31st. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Amgen presently has a consensus rating of “Hold” and an average target price of $204.55.
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Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, nephrology, and neuroscience. The company's products include Evenity to treat osteoporosis in postmenopausal women; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Repatha to treat coronary diseases; Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Parsabiv to treat secondary hyperparathyroidism (sHPT); and Aimovig for the prevention of migraine.
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