Amgen Inc. (NASDAQ:AMGN) Stock Holdings Cut by Savvy Advisors Inc.

Savvy Advisors Inc. trimmed its position in shares of Amgen Inc. (NASDAQ:AMGN) by 1.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,853 shares of the medical research company’s stock after selling 449 shares during the quarter. Amgen accounts for approximately 2.7% of Savvy Advisors Inc.’s portfolio, making the stock its 4th largest holding. Savvy Advisors Inc.’s holdings in Amgen were worth $13,163,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Winslow Asset Management Inc. boosted its holdings in shares of Amgen by 0.5% in the 3rd quarter. Winslow Asset Management Inc. now owns 21,493 shares of the medical research company’s stock worth $6,925,000 after buying an additional 115 shares during the last quarter. Proactive Wealth Strategies LLC bought a new stake in Amgen in the 3rd quarter valued at about $1,107,000. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Amgen by 1.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,575,775 shares of the medical research company’s stock valued at $507,730,000 after buying an additional 26,805 shares during the period. Apollon Financial LLC increased its position in shares of Amgen by 6.3% during the third quarter. Apollon Financial LLC now owns 896 shares of the medical research company’s stock valued at $289,000 after buying an additional 53 shares during the period. Finally, WealthPlan Investment Management LLC increased its position in shares of Amgen by 17.0% during the third quarter. WealthPlan Investment Management LLC now owns 38,955 shares of the medical research company’s stock valued at $12,552,000 after buying an additional 5,661 shares during the period. 76.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on AMGN shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $405.00 price target on shares of Amgen in a research report on Tuesday, October 22nd. Bank of America boosted their price objective on Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Robert W. Baird reissued an “underperform” rating and set a $215.00 price objective on shares of Amgen in a report on Wednesday, September 25th. TD Cowen upped their target price on Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $305.00 target price (down previously from $310.00) on shares of Amgen in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $333.50.

Amgen Price Performance

Shares of NASDAQ:AMGN opened at $321.55 on Tuesday. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. Amgen Inc. has a 1-year low of $260.52 and a 1-year high of $346.85. The company has a market capitalization of $172.84 billion, a PE ratio of 41.20, a PEG ratio of 2.90 and a beta of 0.60. The business has a fifty day moving average price of $323.37 and a 200-day moving average price of $318.07.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, beating 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 revenue was up 23.2% compared to the same quarter last year. During the same period last year, the firm posted $4.96 earnings per share. As a group, equities analysts expect that Amgen Inc. will post 19.51 EPS for the current fiscal year.

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 18th will be given a $2.25 dividend. The ex-dividend date is Monday, November 18th. This represents a $9.00 annualized dividend and a yield of 2.80%. Amgen’s payout ratio is 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.