Amgen Inc. (NASDAQ:AMGN) Shares Sold by Peloton Wealth Strategists

Peloton Wealth Strategists cut its stake in Amgen Inc. (NASDAQ:AMGN) by 30.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 13,303 shares of the medical research company’s stock after selling 5,840 shares during the quarter. Amgen comprises approximately 1.7% of Peloton Wealth Strategists’ portfolio, making the stock its 20th biggest holding. Peloton Wealth Strategists’ holdings in Amgen were worth $4,286,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new position in shares of Amgen during the 3rd quarter worth approximately $25,000. Hershey Financial Advisers LLC acquired a new position in Amgen during the second quarter worth $30,000. Legacy Investment Solutions LLC acquired a new position in Amgen during the third quarter worth $29,000. nVerses Capital LLC purchased a new stake in Amgen in the 2nd quarter valued at $31,000. Finally, Bbjs Financial Advisors LLC acquired a new stake in shares of Amgen in the 2nd quarter worth $33,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AMGN. Robert W. Baird reissued an “underperform” rating and set a $215.00 price target on shares of Amgen in a research report on Wednesday, September 25th. StockNews.com cut shares of Amgen from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 28th. UBS Group cut their price target on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Truist Financial cut Amgen from a “buy” rating to a “hold” rating and upped their price objective for the company from $320.00 to $333.00 in a report on Monday, October 14th. Finally, Citigroup cut their target price on Amgen from $335.00 to $310.00 in a research note on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $323.05.

Amgen Stock Down 0.6 %

Shares of NASDAQ:AMGN opened at $272.58 on Monday. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. Amgen Inc. has a fifty-two week low of $257.80 and a fifty-two week high of $346.85. The stock has a market cap of $146.52 billion, a price-to-earnings ratio of 34.90, a price-to-earnings-growth ratio of 3.08 and a beta of 0.55. The firm’s 50 day moving average price is $306.58 and its 200 day moving average price is $315.86.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data 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 business 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 company’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same period in the previous year, the company earned $4.96 EPS. As a group, equities research analysts predict that Amgen Inc. will post 19.51 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders 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 dividend yield of 3.30%. Amgen’s payout ratio is currently 115.24%.

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.