Amgen Inc. (NASDAQ:AMGN) Shares Sold by Prospera Private Wealth LLC

Prospera Private Wealth LLC trimmed its position in shares of Amgen Inc. (NASDAQ:AMGN) by 24.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,318 shares of the medical research company’s stock after selling 746 shares during the period. Prospera Private Wealth LLC’s holdings in Amgen were worth $747,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new stake in shares of Amgen during the third quarter valued at about $25,000. Hershey Financial Advisers LLC purchased a new position in Amgen in the second quarter valued at about $30,000. nVerses Capital LLC acquired a new stake in Amgen during the 2nd quarter valued at approximately $31,000. Bbjs Financial Advisors LLC purchased a new stake in Amgen during the 2nd quarter worth approximately $33,000. Finally, Matrix Trust Co acquired a new position in shares of Amgen in the 3rd quarter valued at approximately $36,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on AMGN shares. Sanford C. Bernstein began coverage on shares of Amgen in a research note on Thursday, October 17th. They issued an “outperform” rating and a $380.00 price target for the company. Royal Bank of Canada reissued an “outperform” rating and issued a $362.00 target price on shares of Amgen in a research report on Thursday, September 26th. Citigroup initiated coverage on shares of Amgen in a research report on Thursday, November 14th. They set a “neutral” rating and a $335.00 price target on the stock. Robert W. Baird reissued an “underperform” rating and issued a $215.00 price objective on shares of Amgen in a report on Wednesday, September 25th. Finally, Oppenheimer restated an “outperform” rating and set a $380.00 price objective on shares of Amgen in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $333.57.

Amgen Stock Performance

AMGN opened at $279.95 on Wednesday. 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 business’s 50 day moving average is $318.92 and its 200-day moving average is $318.43. The stock has a market cap of $150.48 billion, a PE ratio of 35.85, a price-to-earnings-growth ratio of 2.53 and a beta of 0.60. Amgen Inc. has a twelve month low of $260.52 and a twelve month high of $346.85.

Amgen (NASDAQ:AMGN) last announced 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. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The firm had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. During the same quarter in the previous year, the business earned $4.96 EPS. The firm’s revenue for the quarter was up 23.2% on a year-over-year basis. On average, analysts predict that Amgen Inc. will post 19.51 earnings per share for the current year.

Amgen Announces Dividend

The business also recently disclosed 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. This represents a $9.00 annualized dividend and a yield of 3.21%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s payout ratio is currently 115.24%.

Amgen 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.