Integrated Wealth Concepts LLC Has $7.25 Million Position in Amgen Inc. (NASDAQ:AMGN)

Integrated Wealth Concepts LLC lessened its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 7.2% in the third quarter, according to its most recent filing with the SEC. The firm owned 22,491 shares of the medical research company’s stock after selling 1,747 shares during the period. Integrated Wealth Concepts LLC’s holdings in Amgen were worth $7,247,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Meyer Handelman Co. raised its position in shares of Amgen by 7.2% in the 2nd quarter. Meyer Handelman Co. now owns 129,831 shares of the medical research company’s stock valued at $40,566,000 after acquiring an additional 8,700 shares during the period. First Horizon Advisors Inc. raised its holdings in Amgen by 3.2% in the third quarter. First Horizon Advisors Inc. now owns 60,769 shares of the medical research company’s stock worth $19,581,000 after purchasing an additional 1,872 shares during the period. Napa Wealth Management bought a new position in shares of Amgen during the third quarter worth $1,104,000. Swiss National Bank grew its holdings in shares of Amgen by 0.3% in the 3rd quarter. Swiss National Bank now owns 1,592,233 shares of the medical research company’s stock valued at $513,033,000 after buying an additional 5,500 shares during the period. Finally, Summit Trail Advisors LLC increased its position in shares of Amgen by 40.1% in the 3rd quarter. Summit Trail Advisors LLC now owns 7,552 shares of the medical research company’s stock valued at $2,433,000 after buying an additional 2,163 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. UBS Group decreased their target price on Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Robert W. Baird reiterated an “underperform” rating and issued a $215.00 price objective on shares of Amgen in a research report on Wednesday, September 25th. Sanford C. Bernstein started coverage on shares of Amgen in a report on Thursday, October 17th. They set an “outperform” rating and a $380.00 target price on the stock. William Blair reiterated an “outperform” rating on shares of Amgen in a report on Tuesday, November 12th. Finally, Barclays raised their price objective on shares of Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Amgen has an average rating of “Hold” and a consensus target price of $323.05.

Amgen Stock Performance

Shares of AMGN opened at $278.32 on Wednesday. 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 firm has a 50-day moving average of $309.17 and a 200-day moving average of $316.66. The company has a market cap of $149.61 billion, a PE ratio of 35.64, a price-to-earnings-growth ratio of 3.08 and a beta of 0.55. Amgen Inc. has a one year low of $257.80 and a one year high of $346.85.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 168.35% and a net margin of 13.00%. Amgen’s quarterly revenue was up 23.2% on a year-over-year basis. During the same quarter last year, the company posted $4.96 earnings per share. As a group, equities analysts forecast that Amgen Inc. will post 19.51 earnings per share for the current year.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 18th will be issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 3.23%. The ex-dividend date is Monday, November 18th. Amgen’s dividend payout ratio is 115.24%.

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.