Fulton Breakefield Broenniman LLC Lowers Holdings in Amgen Inc. (NASDAQ:AMGN)

Fulton Breakefield Broenniman LLC lowered its holdings in Amgen Inc. (NASDAQ:AMGN) by 10.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,799 shares of the medical research company’s stock after selling 680 shares during the quarter. Fulton Breakefield Broenniman LLC’s holdings in Amgen were worth $1,868,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Wolff Wiese Magana LLC raised its holdings in Amgen by 7.5% in the 3rd quarter. Wolff Wiese Magana LLC now owns 9,641 shares of the medical research company’s stock valued at $3,106,000 after buying an additional 671 shares during the period. Leisure Capital Management increased its position in shares of Amgen by 0.9% during the third quarter. Leisure Capital Management now owns 5,306 shares of the medical research company’s stock valued at $1,710,000 after acquiring an additional 47 shares during the last quarter. Sumitomo Life Insurance Co. raised its stake in shares of Amgen by 2.5% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 5,928 shares of the medical research company’s stock valued at $1,910,000 after acquiring an additional 143 shares during the period. Peoples Financial Services CORP. lifted its holdings in shares of Amgen by 1.5% in the 3rd quarter. Peoples Financial Services CORP. now owns 4,800 shares of the medical research company’s stock worth $1,547,000 after acquiring an additional 71 shares during the last quarter. Finally, SeaCrest Wealth Management LLC boosted its position in shares of Amgen by 0.6% during the 3rd quarter. SeaCrest Wealth Management LLC now owns 19,383 shares of the medical research company’s stock worth $6,245,000 after purchasing an additional 114 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Morgan Stanley cut their target price on Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 11th. Robert W. Baird reissued an “underperform” rating and set a $215.00 target price on shares of Amgen in a research note on Wednesday, September 25th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $305.00 target price (down from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. Jefferies Financial Group reissued a “buy” rating and set a $380.00 price target (up previously from $375.00) on shares of Amgen in a research report on Wednesday, August 7th. Finally, Truist Financial cut shares of Amgen from a “buy” rating to a “hold” rating and lifted their price objective for the company from $320.00 to $333.00 in a report on Monday. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $326.95.

Amgen Stock Performance

Shares of Amgen stock opened at $321.63 on Thursday. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 9.64. Amgen Inc. has a 52 week low of $249.70 and a 52 week high of $346.85. The firm’s 50 day moving average is $326.15 and its two-hundred day moving average is $311.56. The firm has a market capitalization of $172.53 billion, a P/E ratio of 45.95, a P/E/G ratio of 2.86 and a beta of 0.61.

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

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s dividend payout ratio (DPR) is currently 128.57%.

Amgen Company 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.