Bray Capital Advisors Has $5.13 Million Stock Position in Amgen Inc. (NASDAQ:AMGN)

Bray Capital Advisors reduced its position in shares of Amgen Inc. (NASDAQ:AMGN) by 2.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 15,921 shares of the medical research company’s stock after selling 325 shares during the quarter. Amgen comprises about 1.3% of Bray Capital Advisors’ portfolio, making the stock its 21st biggest position. Bray Capital Advisors’ holdings in Amgen were worth $5,130,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new stake in Amgen during the 3rd quarter worth approximately $25,000. Strategic Financial Concepts LLC bought a new stake in Amgen during the 2nd quarter worth approximately $26,000. Hershey Financial Advisers LLC bought a new stake in Amgen during the 2nd quarter worth approximately $30,000. nVerses Capital LLC bought a new stake in Amgen during the 2nd quarter worth approximately $31,000. Finally, Bbjs Financial Advisors LLC bought a new stake in Amgen during the 2nd quarter worth approximately $33,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Stock Up 1.0 %

Shares of NASDAQ:AMGN opened at $325.28 on Friday. The stock’s 50-day moving average price is $323.61 and its 200-day moving average price is $317.08. Amgen Inc. has a 12-month low of $260.52 and a 12-month high of $346.85. The stock has a market capitalization of $174.85 billion, a P/E ratio of 41.65, a price-to-earnings-growth ratio of 2.79 and a beta of 0.60. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55.

Amgen (NASDAQ:AMGN) last posted its earnings results 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 company had revenue of $8.50 billion for 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 period last year, the firm earned $4.96 earnings per share. On average, equities analysts anticipate that Amgen Inc. will post 19.51 earnings per share for the current year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be paid a $2.25 dividend. The ex-dividend date is Monday, November 18th. This represents a $9.00 annualized dividend and a dividend yield of 2.77%. Amgen’s payout ratio is presently 115.24%.

Analyst Upgrades and Downgrades

AMGN has been the topic of several research analyst reports. UBS Group dropped their price objective on Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Barclays upped their price objective on Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Robert W. Baird reiterated an “underperform” rating and issued a $215.00 price objective on shares of Amgen in a research note on Wednesday, September 25th. Dbs Bank upgraded Amgen to a “strong-buy” rating in a research note on Monday, September 16th. Finally, Truist Financial downgraded 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 research note on Monday, October 14th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $333.50.

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.