Alexander Randolph Advisory Inc. Sells 65 Shares of Amgen Inc. (NASDAQ:AMGN)

Alexander Randolph Advisory Inc. cut its holdings in Amgen Inc. (NASDAQ:AMGN) by 0.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,965 shares of the medical research company’s stock after selling 65 shares during the quarter. Amgen comprises 2.0% of Alexander Randolph Advisory Inc.’s portfolio, making the stock its 19th largest position. Alexander Randolph Advisory Inc.’s holdings in Amgen were worth $2,244,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new stake in shares of Amgen in the 3rd quarter valued at approximately $25,000. Strategic Financial Concepts LLC acquired a new stake in Amgen in the second quarter worth $26,000. Hershey Financial Advisers LLC bought a new position in shares of Amgen during the second quarter worth $30,000. nVerses Capital LLC acquired a new position in shares of Amgen in the 2nd quarter valued at $31,000. Finally, Bbjs Financial Advisors LLC acquired a new position in shares of Amgen in the 2nd quarter valued at $33,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Stock Up 1.1 %

AMGN traded up $3.30 during trading on Wednesday, reaching $302.14. 1,185,864 shares of the stock were exchanged, compared to its average volume of 2,424,374. The stock has a market cap of $162.41 billion, a P/E ratio of 38.26, a price-to-earnings-growth ratio of 2.87 and a beta of 0.60. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. The stock’s 50 day moving average price is $322.74 and its two-hundred day moving average price is $318.27. Amgen Inc. has a twelve month low of $260.52 and a twelve month high of $346.85.

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, topping the consensus estimate of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The company had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. During the same period in the previous year, the business earned $4.96 EPS. Amgen’s revenue for the quarter was up 23.2% compared to the same quarter last year. Equities analysts expect that Amgen Inc. will post 19.51 EPS for the current year.

Amgen Dividend Announcement

The firm 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 dividend of $2.25 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $9.00 annualized dividend and a dividend yield of 2.98%. Amgen’s dividend payout ratio is currently 115.24%.

Wall Street Analyst Weigh In

Several research firms have weighed in on AMGN. UBS Group reduced their target price on Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. StockNews.com upgraded Amgen from a “buy” rating to a “strong-buy” rating in a report on Friday, November 1st. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $305.00 target price (down from $310.00) on shares of Amgen in a report on Wednesday, August 7th. Royal Bank of Canada reiterated an “outperform” rating and issued a $362.00 price target on shares of Amgen in a report on Thursday, September 26th. Finally, Robert W. Baird reissued an “underperform” rating and set a $215.00 price objective on shares of Amgen in a research report on Wednesday, September 25th. One 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $333.50.

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.