Amgen Inc. (NASDAQ:AMGN) Shares Sold by GoalVest Advisory LLC

GoalVest Advisory LLC trimmed its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 11.7% in the third quarter, Holdings Channel.com reports. The fund owned 602 shares of the medical research company’s stock after selling 80 shares during the period. GoalVest Advisory LLC’s holdings in Amgen were worth $194,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. M&G Plc acquired a new position in shares of Amgen during the 1st quarter worth approximately $7,633,000. Patten & Patten Inc. TN raised its position in shares of Amgen by 4.6% during the 1st quarter. Patten & Patten Inc. TN now owns 3,104 shares of the medical research company’s stock worth $883,000 after purchasing an additional 136 shares during the last quarter. Edgestream Partners L.P. raised its position in shares of Amgen by 218.0% during the 1st 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 last quarter. Hillsdale Investment Management Inc. raised its position in shares of Amgen by 44.3% during the 1st 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 during the last quarter. Finally, Trustmark National Bank Trust Department raised its position in shares of Amgen by 6.5% during the 1st quarter. Trustmark National Bank Trust Department now owns 31,204 shares of the medical research company’s stock worth $8,872,000 after purchasing an additional 1,909 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Stock Performance

NASDAQ:AMGN opened at $283.61 on Friday. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. The firm has a market capitalization of $152.45 billion, a price-to-earnings ratio of 36.31, a PEG ratio of 2.69 and a beta of 0.60. The firm’s fifty day simple moving average is $320.85 and its 200 day simple moving average is $318.36. Amgen Inc. has a twelve month low of $260.52 and a twelve month high of $346.85.

Amgen (NASDAQ:AMGN) last posted its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, beating the consensus estimate of $5.11 by $0.47. The business 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 business’s quarterly revenue was up 23.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.96 EPS. As a group, equities research analysts expect that Amgen Inc. will post 19.51 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Shareholders 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 3.17%. Amgen’s dividend payout ratio is currently 115.24%.

Analysts Set New Price Targets

Several brokerages recently issued reports on AMGN. TD Cowen lifted their price objective on Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $405.00 target price on shares of Amgen in a research note on Tuesday, October 22nd. Dbs Bank raised shares of Amgen to a “strong-buy” rating in a research note on Monday, September 16th. Wolfe Research started coverage on shares of Amgen in a research note on Friday. They issued a “peer perform” rating for the company. Finally, William Blair reaffirmed an “outperform” rating on shares of Amgen in a research note on Tuesday, November 12th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Amgen currently has a consensus rating of “Moderate Buy” and a consensus price target of $333.57.

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.