L & S Advisors Inc Has $3.47 Million Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

L & S Advisors Inc trimmed its holdings in Amgen Inc. (NASDAQ:AMGN) by 46.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,774 shares of the medical research company’s stock after selling 9,316 shares during the quarter. L & S Advisors Inc’s holdings in Amgen were worth $3,471,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Keynote Financial Services LLC boosted its position in shares of Amgen by 0.6% in the second 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 during the period. Ascent Group LLC lifted its position in 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 period. Hofer & Associates. Inc lifted its position in 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 period. Cadinha & Co. LLC lifted its position in 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 period. Finally, Lansing Street Advisors lifted its position in 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 period. 76.50% of the stock is owned by institutional investors.

Amgen Price Performance

Shares of AMGN opened at $289.00 on Thursday. Amgen Inc. has a 1 year low of $260.68 and a 1 year high of $346.85. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. The stock has a market cap of $155.35 billion, a P/E ratio of 36.86, a price-to-earnings-growth ratio of 2.50 and a beta of 0.60. The stock’s 50-day moving average price is $318.08 and its two-hundred day moving average price is $318.22.

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

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 18th will be given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 3.11%. The ex-dividend date is Monday, November 18th. Amgen’s dividend payout ratio (DPR) is 115.24%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on AMGN shares. UBS Group reduced their target price on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Wolfe Research began coverage on shares of Amgen in a research note on Friday, November 15th. They issued a “peer perform” rating for the company. Truist Financial lowered Amgen from a “buy” rating to a “hold” rating and increased their price target for the stock from $320.00 to $333.00 in a research report on Monday, October 14th. Royal Bank of Canada reissued an “outperform” rating and issued a $362.00 price objective on shares of Amgen in a research note on Thursday, September 26th. Finally, Oppenheimer restated an “outperform” rating and issued a $380.00 target price on shares of Amgen in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Amgen has an average rating of “Moderate Buy” and an average target price of $333.57.

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.