SageView Advisory Group LLC Has $2.99 Million Stock Position in Amgen Inc. (NASDAQ:AMGN)

SageView Advisory Group LLC reduced its position in shares of Amgen Inc. (NASDAQ:AMGN) by 9.8% during the third quarter, Holdings Channel reports. The institutional investor owned 9,270 shares of the medical research company’s stock after selling 1,004 shares during the period. SageView Advisory Group LLC’s holdings in Amgen were worth $2,987,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Keynote Financial Services LLC raised its stake in Amgen by 0.6% during the 2nd quarter. Keynote Financial Services LLC now owns 4,898 shares of the medical research company’s stock worth $1,530,000 after buying an additional 30 shares during the period. Ascent Group LLC raised its stake in shares of Amgen by 0.3% in the second quarter. Ascent Group LLC now owns 10,949 shares of the medical research company’s stock worth $3,421,000 after purchasing an additional 31 shares during the last quarter. Hofer & Associates. Inc raised its stake in shares of Amgen by 0.5% in the second quarter. Hofer & Associates. Inc now owns 6,477 shares of the medical research company’s stock worth $2,024,000 after purchasing an additional 32 shares during the last quarter. Cadinha & Co. LLC raised its stake in shares of Amgen by 0.6% in the third quarter. Cadinha & Co. LLC now owns 5,209 shares of the medical research company’s stock worth $1,678,000 after purchasing an additional 32 shares during the last quarter. Finally, Lansing Street Advisors raised its stake in shares of Amgen by 1.3% in the third quarter. Lansing Street Advisors now owns 2,582 shares of the medical research company’s stock worth $832,000 after purchasing an additional 32 shares during the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Price Performance

Amgen stock opened at $278.26 on Thursday. Amgen Inc. has a one year low of $257.80 and a one year high of $346.85. The business has a fifty day moving average price of $308.48 and a 200-day moving average price of $316.40. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. The firm has a market capitalization of $149.57 billion, a P/E ratio of 35.63, a PEG ratio of 3.08 and a beta of 0.55.

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

Amgen Announces Dividend

The firm also recently disclosed 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 of this dividend is Monday, November 18th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.23%. Amgen’s dividend payout ratio (DPR) is presently 115.24%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Leerink Partners lowered their price objective on Amgen from $349.00 to $302.00 in a research note on Wednesday, November 27th. UBS Group lowered their price objective on Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Robert W. Baird reaffirmed an “underperform” rating and set a $215.00 price target on shares of Amgen in a research report on Wednesday, September 25th. StockNews.com downgraded Amgen from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 28th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $380.00 price target on shares of Amgen in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $323.05.

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.