Amgen Inc. (NASDAQ:AMGN) Shares Sold by Keudell Morrison Wealth Management

Keudell Morrison Wealth Management cut its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 7.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,046 shares of the medical research company’s stock after selling 309 shares during the quarter. Keudell Morrison Wealth Management’s holdings in Amgen were worth $1,304,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of AMGN. Advisory Services Network LLC grew its stake in Amgen by 33.9% during the 1st quarter. Advisory Services Network LLC now owns 27,390 shares of the medical research company’s stock valued at $7,788,000 after acquiring an additional 6,935 shares in the last quarter. Gallacher Capital Management LLC grew its stake in shares of Amgen by 5.7% in the 1st quarter. Gallacher Capital Management LLC now owns 1,006 shares of the medical research company’s stock valued at $286,000 after buying an additional 54 shares during the period. CFO4Life Group LLC grew its stake in shares of Amgen by 4.0% in the 1st quarter. CFO4Life Group LLC now owns 2,169 shares of the medical research company’s stock valued at $617,000 after buying an additional 84 shares during the period. Empirical Finance LLC grew its stake in shares of Amgen by 3.4% in the 1st quarter. Empirical Finance LLC now owns 19,773 shares of the medical research company’s stock valued at $5,622,000 after buying an additional 649 shares during the period. Finally, Envestnet Portfolio Solutions Inc. grew its stake in shares of Amgen by 5.3% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 64,427 shares of the medical research company’s stock valued at $18,318,000 after buying an additional 3,246 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Price Performance

AMGN traded down $1.79 during midday trading on Thursday, reaching $320.00. 147,390 shares of the company’s stock were exchanged, compared to its average volume of 2,400,711. 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 stock has a market capitalization of $171.95 billion, a PE ratio of 41.20, a P/E/G ratio of 2.81 and a beta of 0.60. The business’s 50-day moving average price is $323.96 and its 200 day moving average price is $316.68. Amgen Inc. has a 1-year low of $260.52 and a 1-year high of $346.85.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, beating analysts’ consensus estimates 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 company’s revenue was up 23.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.96 earnings per share. As a group, equities analysts anticipate that Amgen Inc. will post 19.49 EPS for the current fiscal year.

Amgen Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be issued a $2.25 dividend. The ex-dividend date is Monday, November 18th. This represents a $9.00 dividend on an annualized basis and a yield of 2.81%. Amgen’s payout ratio is 115.24%.

Analyst Ratings Changes

AMGN has been the subject of a number of research analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $405.00 price objective on shares of Amgen in a research report on Tuesday, October 22nd. Oppenheimer restated an “outperform” rating and issued a $380.00 price objective on shares of Amgen in a report on Wednesday, August 7th. Truist Financial lowered shares of Amgen from a “buy” rating to a “hold” rating and raised their price objective for the company from $320.00 to $333.00 in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $305.00 target price (down from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. Finally, UBS Group dropped their target price on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, eleven have issued 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 a consensus price target of $333.50.

About Amgen

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.