DMC Group LLC Reduces Stock Position in Amgen Inc. (NASDAQ:AMGN)

DMC Group LLC decreased its holdings in Amgen Inc. (NASDAQ:AMGN) by 3.9% during the third quarter, HoldingsChannel.com reports. The firm owned 3,431 shares of the medical research company’s stock after selling 141 shares during the quarter. DMC Group LLC’s holdings in Amgen were worth $1,106,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. New Century Financial Group LLC grew its holdings in shares of Amgen by 12.0% in the third quarter. New Century Financial Group LLC now owns 3,600 shares of the medical research company’s stock worth $1,160,000 after purchasing an additional 386 shares during the last quarter. Powers Advisory Group LLC lifted its holdings in Amgen by 4.4% during the 3rd quarter. Powers Advisory Group LLC now owns 1,204 shares of the medical research company’s stock valued at $388,000 after buying an additional 51 shares in the last quarter. Resonant Capital Advisors LLC boosted its position in Amgen by 0.7% in the 3rd quarter. Resonant Capital Advisors LLC now owns 12,222 shares of the medical research company’s stock valued at $3,938,000 after buying an additional 89 shares during the period. Wealth Alliance Advisory Group LLC grew its stake in Amgen by 0.6% in the 3rd quarter. Wealth Alliance Advisory Group LLC now owns 6,573 shares of the medical research company’s stock worth $2,118,000 after acquiring an additional 38 shares in the last quarter. Finally, Warren Street Wealth Advisors LLC increased its position in shares of Amgen by 7.1% during the third quarter. Warren Street Wealth Advisors LLC now owns 767 shares of the medical research company’s stock worth $247,000 after acquiring an additional 51 shares during the period. 76.50% of the stock is currently owned by institutional investors.

Amgen Stock Up 0.1 %

NASDAQ:AMGN opened at $321.66 on Friday. The company’s 50 day moving average is $326.07 and its two-hundred day moving average is $312.15. The company has a market cap of $172.55 billion, a PE ratio of 45.95, a P/E/G ratio of 2.86 and a beta of 0.61. Amgen Inc. has a twelve month low of $249.70 and a twelve month high of $346.85. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 9.64.

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

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were issued a $2.25 dividend. The ex-dividend date was Friday, August 16th. This represents a $9.00 annualized dividend and a yield of 2.80%. Amgen’s dividend payout ratio (DPR) is presently 128.57%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on AMGN shares. 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. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $305.00 target price (down from $310.00) on shares of Amgen in a report on Wednesday, August 7th. Dbs Bank upgraded Amgen to a “strong-buy” rating in a research note on Monday, September 16th. TD Cowen upped their price objective on shares of Amgen from $360.00 to $381.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Finally, Cantor Fitzgerald began coverage on shares of Amgen in a report on Friday, September 27th. They set an “overweight” rating and a $405.00 target price on the stock. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $329.48.

Amgen 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.