Moran Wealth Management LLC Sells 789 Shares of Amgen Inc. (NASDAQ:AMGN)

Moran Wealth Management LLC lessened its holdings in Amgen Inc. (NASDAQ:AMGN) by 2.9% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 26,731 shares of the medical research company’s stock after selling 789 shares during the quarter. Moran Wealth Management LLC’s holdings in Amgen were worth $8,613,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of AMGN. Pathway Financial Advisers LLC grew its position in Amgen by 33,125.4% in the 3rd quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock valued at $1,437,115,000 after acquiring an additional 4,446,757 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of Amgen by 6,812.4% during the 3rd quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock worth $8,130,610,000 after buying an additional 2,486,882 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of Amgen by 137.1% during the 1st quarter. Janus Henderson Group PLC now owns 2,381,133 shares of the medical research company’s stock worth $676,984,000 after buying an additional 1,377,007 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of Amgen by 561.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,539,733 shares of the medical research company’s stock worth $496,117,000 after buying an additional 1,306,982 shares in the last quarter. Finally, Granite Bay Wealth Management LLC grew its position in shares of Amgen by 9,058.1% during the 2nd quarter. Granite Bay Wealth Management LLC now owns 756,460 shares of the medical research company’s stock worth $223,897,000 after buying an additional 748,200 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Amgen Trading Up 2.8 %

Shares of NASDAQ:AMGN opened at $287.87 on Thursday. Amgen Inc. has a 52-week low of $260.52 and a 52-week high of $346.85. The stock has a market cap of $154.74 billion, a price-to-earnings ratio of 36.86, a PEG ratio of 2.53 and a beta of 0.60. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. The business has a 50-day moving average price of $318.08 and a 200-day moving average price of $318.22.

Amgen (NASDAQ:AMGN) last posted its earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping the consensus estimate of $5.11 by $0.47. The firm had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. Amgen’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same period last year, the company earned $4.96 earnings per share. Equities analysts predict that Amgen Inc. will post 19.51 EPS for the current year.

Amgen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 18th will be issued a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 3.13%. The ex-dividend date is Monday, November 18th. Amgen’s payout ratio is currently 115.24%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on AMGN shares. Jefferies Financial Group reissued a “buy” rating and set a $380.00 price target on shares of Amgen in a research report on Tuesday, November 12th. Wolfe Research started coverage on Amgen in a research report on Friday, November 15th. They set a “peer perform” rating on the stock. Wells Fargo & Company downgraded Amgen from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $320.00 to $335.00 in a research report on Wednesday, August 7th. Oppenheimer reissued an “outperform” rating and set a $380.00 price target on shares of Amgen in a research report on Wednesday, August 7th. Finally, Bank of America upped their price objective on Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average 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.