Inlet Private Wealth LLC Sells 50 Shares of Amgen Inc. (NASDAQ:AMGN)

Inlet Private Wealth LLC decreased its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 0.2% in the third quarter, Holdings Channel.com reports. The fund owned 23,431 shares of the medical research company’s stock after selling 50 shares during the period. Amgen comprises about 1.9% of Inlet Private Wealth LLC’s holdings, making the stock its 12th biggest position. Inlet Private Wealth LLC’s holdings in Amgen were worth $7,550,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of AMGN. Capital International Investors lifted its position in shares of Amgen by 547.8% in the first quarter. Capital International Investors now owns 7,005,269 shares of the medical research company’s stock worth $1,991,738,000 after buying an additional 5,923,915 shares in the last quarter. Vanguard Group Inc. lifted its position in Amgen by 6.2% during the first quarter. Vanguard Group Inc. now owns 52,088,210 shares of the medical research company’s stock valued at $14,809,720,000 after purchasing an additional 3,045,657 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Amgen by 137.1% in the 1st quarter. Janus Henderson Group PLC now owns 2,381,133 shares of the medical research company’s stock worth $676,984,000 after buying an additional 1,377,007 shares in the last quarter. Capital Wealth Planning LLC increased its holdings in shares of Amgen by 28,684.1% in the 1st quarter. Capital Wealth Planning LLC now owns 833,300 shares of the medical research company’s stock worth $236,924,000 after buying an additional 830,405 shares during the last quarter. Finally, Granite Bay Wealth Management LLC raised its position in shares of Amgen by 9,058.1% during the 2nd quarter. Granite Bay Wealth Management LLC now owns 756,460 shares of the medical research company’s stock valued at $223,897,000 after buying an additional 748,200 shares in the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Stock Up 0.2 %

Amgen stock traded up $0.54 during midday trading on Thursday, hitting $322.17. 524,877 shares of the company’s stock were exchanged, compared to its average volume of 2,446,804. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.89 and a current ratio of 1.26. The company has a market cap of $172.82 billion, a PE ratio of 45.95, a P/E/G ratio of 2.86 and a beta of 0.61. The firm has a 50-day moving average of $326.15 and a two-hundred day moving average of $311.56. Amgen Inc. has a 12 month low of $249.70 and a 12 month high of $346.85.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.01 by ($0.04). The business had revenue of $8.39 billion for the quarter, compared to analysts’ expectations of $8.35 billion. Amgen had a net margin of 10.12% and a return on equity of 161.72%. The business’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same period in the previous year, the business earned $5.00 earnings per share. As a group, analysts expect that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date was Friday, August 16th. Amgen’s dividend payout ratio (DPR) is currently 128.57%.

Analysts Set New Price Targets

AMGN has been the topic of several analyst reports. Oppenheimer reissued an “outperform” rating and set a $380.00 price objective on shares of Amgen in a research note on Wednesday, August 7th. Bank of America boosted their target price on Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. TD Cowen raised their price target on Amgen from $360.00 to $381.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Cantor Fitzgerald started coverage on shares of Amgen in a research report on Friday, September 27th. They set an “overweight” rating and a $405.00 price objective on the stock. Finally, Morgan Stanley lowered their target price on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a report on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Amgen currently has an average rating of “Moderate Buy” and a consensus target price of $329.48.

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.