Horan Capital Advisors LLC. Sells 226 Shares of Amgen Inc. (NASDAQ:AMGN)

Horan Capital Advisors LLC. lowered its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 1.7% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,922 shares of the medical research company’s stock after selling 226 shares during the period. Amgen comprises about 1.4% of Horan Capital Advisors LLC.’s portfolio, making the stock its 21st biggest holding. Horan Capital Advisors LLC.’s holdings in Amgen were worth $4,164,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Capital Performance Advisors LLP bought a new position in shares of Amgen in the third quarter worth about $25,000. Strategic Financial Concepts LLC bought a new position in Amgen in the 2nd quarter valued at approximately $26,000. Hershey Financial Advisers LLC acquired a new stake in Amgen in the second quarter valued at approximately $30,000. nVerses Capital LLC bought a new stake in shares of Amgen during the second quarter worth $31,000. Finally, Bbjs Financial Advisors LLC bought a new stake in shares of Amgen during the second quarter worth $33,000. 76.50% of the stock is currently owned by institutional investors.

Amgen Trading Down 0.9 %

Shares of AMGN stock opened at $278.76 on Tuesday. The company has a market cap of $149.84 billion, a P/E ratio of 35.69, a PEG ratio of 2.53 and a beta of 0.60. Amgen Inc. has a fifty-two week low of $260.52 and a fifty-two week high of $346.85. The stock has a 50 day simple moving average of $319.90 and a two-hundred day simple moving average of $318.65. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data 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. The company had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. Amgen’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.96 EPS. Research analysts forecast that Amgen Inc. will post 19.51 earnings per share for the current year.

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be paid a $2.25 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $9.00 annualized dividend and a dividend yield of 3.23%. Amgen’s dividend payout ratio is presently 115.24%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Truist Financial downgraded Amgen from a “buy” rating to a “hold” rating and raised their price objective for the company from $320.00 to $333.00 in a report on Monday, October 14th. UBS Group cut their price target on Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $362.00 price objective on shares of Amgen in a research note on Thursday, September 26th. Dbs Bank upgraded shares of Amgen to a “strong-buy” rating in a research report on Monday, September 16th. Finally, StockNews.com upgraded shares of Amgen from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Amgen has a consensus rating of “Moderate Buy” and a consensus price target of $333.57.

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.