Sky Investment Group LLC Has $700,000 Stake in Amgen Inc. (NASDAQ:AMGN)

Sky Investment Group LLC lowered its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 4.0% during the third quarter, HoldingsChannel reports. The institutional investor owned 2,173 shares of the medical research company’s stock after selling 90 shares during the quarter. Sky Investment Group LLC’s holdings in Amgen were worth $700,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Strategic Financial Concepts LLC bought a new position in shares of Amgen in the second quarter worth $26,000. Hershey Financial Advisers LLC acquired a new stake in Amgen during the second quarter worth about $30,000. nVerses Capital LLC bought a new position in Amgen in the 2nd quarter valued at about $31,000. Bbjs Financial Advisors LLC acquired a new position in shares of Amgen in the 2nd quarter valued at approximately $33,000. Finally, Matrix Trust Co bought a new stake in shares of Amgen during the 3rd quarter worth approximately $36,000. Institutional investors own 76.50% of the company’s stock.

Analysts Set New Price Targets

AMGN has been the topic of a number of recent analyst reports. Dbs Bank raised shares of Amgen to a “strong-buy” rating in a research note on Monday, September 16th. Robert W. Baird reiterated an “underperform” rating and issued a $215.00 price target on shares of Amgen in a research note on Wednesday, September 25th. Morgan Stanley dropped their price objective on Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a research report on Thursday, July 11th. Wells Fargo & Company cut Amgen from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $320.00 to $335.00 in a research report on Wednesday, August 7th. Finally, Truist Financial cut shares of Amgen from a “buy” rating to a “hold” rating and increased their target price for the stock from $320.00 to $333.00 in a report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Amgen presently has an average rating of “Moderate Buy” and an average price target of $332.55.

Amgen Stock Down 0.5 %

Shares of NASDAQ AMGN traded down $1.46 during midday trading on Tuesday, hitting $315.28. 272,867 shares of the stock traded hands, compared to its average volume of 2,432,559. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.89 and a current ratio of 1.26. Amgen Inc. has a one year low of $249.70 and a one year high of $346.85. The business has a 50 day moving average price of $326.00 and a two-hundred day moving average price of $312.76. The company has a market cap of $169.13 billion, a PE ratio of 45.25, a P/E/G ratio of 2.86 and a beta of 0.61.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, August 6th. The medical research company reported $4.97 EPS for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). Amgen had a net margin of 10.12% and a return on equity of 161.72%. The business had revenue of $8.39 billion for the quarter, compared to the consensus estimate of $8.35 billion. During the same quarter last year, the firm posted $5.00 EPS. The business’s revenue for the quarter was up 20.1% compared to the same quarter last year. On average, equities analysts predict that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were issued a $2.25 dividend. The ex-dividend date was Friday, August 16th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.85%. Amgen’s dividend payout ratio is presently 128.57%.

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.