Greenwich Wealth Management LLC Has $390,000 Stake in Amgen Inc. (NASDAQ:AMGN)

Greenwich Wealth Management LLC lowered its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 11.5% during the third quarter, Holdings Channel reports. The institutional investor owned 1,210 shares of the medical research company’s stock after selling 157 shares during the quarter. Greenwich Wealth Management LLC’s holdings in Amgen were worth $390,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of AMGN. Keynote Financial Services LLC boosted its position in shares of Amgen by 0.6% during the 2nd quarter. Keynote Financial Services LLC now owns 4,898 shares of the medical research company’s stock valued at $1,530,000 after acquiring an additional 30 shares in the last quarter. Ascent Group LLC boosted its holdings in Amgen by 0.3% during the second quarter. Ascent Group LLC now owns 10,949 shares of the medical research company’s stock valued at $3,421,000 after purchasing an additional 31 shares in the last quarter. RFP Financial Group LLC grew its stake in shares of Amgen by 17.1% in the 1st quarter. RFP Financial Group LLC now owns 219 shares of the medical research company’s stock valued at $62,000 after purchasing an additional 32 shares during the period. Hofer & Associates. Inc raised its holdings in shares of Amgen by 0.5% in the 2nd quarter. Hofer & Associates. Inc now owns 6,477 shares of the medical research company’s stock worth $2,024,000 after buying an additional 32 shares in the last quarter. Finally, Cadinha & Co. LLC boosted its stake in Amgen by 0.6% in the 3rd quarter. Cadinha & Co. LLC now owns 5,209 shares of the medical research company’s stock valued at $1,678,000 after buying an additional 32 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Robert W. Baird reiterated an “underperform” rating and set a $215.00 price objective on shares of Amgen in a research note on Wednesday, September 25th. Morgan Stanley cut their price target on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a report on Thursday, July 11th. Bank of America raised their price objective on shares of Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Sanford C. Bernstein began coverage on Amgen in a report on Thursday, October 17th. They issued an “outperform” rating and a $380.00 target price on the stock. Finally, Wells Fargo & Company lowered 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. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $333.50.

Amgen Trading Down 0.3 %

AMGN stock traded down $0.94 during midday trading on Friday, reaching $319.22. The company’s stock had a trading volume of 1,826,772 shares, compared to its average volume of 2,418,089. The business’s 50-day simple moving average is $324.47 and its 200-day simple moving average is $315.19. 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 $260.52 and a 52 week high of $346.85. The stock has a market cap of $171.53 billion, a PE ratio of 40.87, a price-to-earnings-growth ratio of 2.84 and a beta of 0.61.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.11 by $0.47. The business had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. Amgen had a return on equity of 181.58% and a net margin of 13.00%. The firm’s revenue was up 23.2% on a year-over-year basis. During the same period last year, the company earned $4.96 EPS. As a group, sell-side analysts expect that Amgen Inc. will post 19.48 EPS for the current year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Investors 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 dividend on an annualized basis and a dividend yield of 2.82%. Amgen’s dividend payout ratio is 115.24%.

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.