Index Fund Advisors Inc. Sells 200 Shares of Amgen Inc. (NASDAQ:AMGN)

Index Fund Advisors Inc. cut its holdings in Amgen Inc. (NASDAQ:AMGN) by 20.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 790 shares of the medical research company’s stock after selling 200 shares during the period. Index Fund Advisors Inc.’s holdings in Amgen were worth $255,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in AMGN. Hershey Financial Advisers LLC bought a new stake in Amgen in the 2nd quarter valued at about $30,000. nVerses Capital LLC bought a new stake in Amgen in the 2nd quarter valued at about $31,000. Bbjs Financial Advisors LLC bought a new stake in Amgen in the 2nd quarter valued at about $33,000. Matrix Trust Co bought a new stake in Amgen in the 3rd quarter valued at about $36,000. Finally, FSA Wealth Management LLC increased its position in Amgen by 182.0% in the 1st quarter. FSA Wealth Management LLC now owns 141 shares of the medical research company’s stock valued at $40,000 after buying an additional 91 shares in the last quarter. 76.50% of the stock is owned by institutional investors.

Amgen Stock Performance

Shares of NASDAQ AMGN traded up $1.03 during midday trading on Thursday, reaching $315.93. The company’s stock had a trading volume of 115,581 shares, compared to its average volume of 2,426,083. Amgen Inc. has a 12-month low of $249.70 and a 12-month high of $346.85. The firm has a 50 day moving average price of $325.77 and a 200-day moving average price of $313.12. The stock has a market capitalization of $169.48 billion, a P/E ratio of 44.99, a PEG ratio of 2.86 and a beta of 0.61. The company has a debt-to-equity ratio of 9.64, a current ratio of 1.26 and a quick ratio of 0.89.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 EPS for the quarter, missing the consensus estimate of $5.01 by ($0.04). Amgen had a net margin of 10.12% and a return on equity of 161.72%. The firm had revenue of $8.39 billion during the quarter, compared to analysts’ expectations of $8.35 billion. During the same quarter in the previous year, the company posted $5.00 EPS. Amgen’s revenue for the quarter was up 20.1% on a year-over-year basis. As a group, equities analysts predict that Amgen Inc. will post 19.49 earnings per share for the current year.

Amgen Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AMGN. Truist Financial lowered Amgen from a “buy” rating to a “hold” rating and boosted their target price for the company from $320.00 to $333.00 in a research report on Monday, October 14th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $405.00 target price on shares of Amgen in a research report on Tuesday. Argus lifted their price target on Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Royal Bank of Canada reiterated an “outperform” rating and set a $362.00 price target on shares of Amgen in a research note on Thursday, September 26th. Finally, Barclays lifted their price target on Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $332.55.

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.