Valley National Advisers Inc. Has $4.36 Million Stake in Amgen Inc. (NASDAQ:AMGN)

Valley National Advisers Inc. lowered its position in shares of Amgen Inc. (NASDAQ:AMGN) by 42.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,534 shares of the medical research company’s stock after selling 10,100 shares during the quarter. Amgen comprises 0.8% of Valley National Advisers Inc.’s investment portfolio, making the stock its 22nd biggest holding. Valley National Advisers Inc.’s holdings in Amgen were worth $4,360,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Hershey Financial Advisers LLC bought a new stake in Amgen during the second quarter valued at $30,000. nVerses Capital LLC bought a new position in shares of Amgen during the 2nd quarter worth about $31,000. Bbjs Financial Advisors LLC bought a new position in shares of Amgen during the 2nd quarter worth about $33,000. Matrix Trust Co bought a new position in shares of Amgen during the 3rd quarter worth about $36,000. Finally, FSA Wealth Management LLC boosted its position in shares of Amgen by 182.0% during the 1st quarter. FSA Wealth Management LLC now owns 141 shares of the medical research company’s stock worth $40,000 after purchasing an additional 91 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AMGN. Jefferies Financial Group reaffirmed a “buy” rating and issued a $380.00 price target (up previously from $375.00) on shares of Amgen in a research report on Wednesday, August 7th. Barclays raised their price target on shares of Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Bank of America raised their price target on shares of Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Truist Financial cut shares of Amgen from a “buy” rating to a “hold” rating and raised their price target for the company from $320.00 to $333.00 in a research report on Monday, October 14th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $380.00 price target on shares of Amgen in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $332.55.

Amgen Trading Up 0.4 %

Shares of AMGN stock opened at $316.98 on Friday. The company has a 50 day moving average of $325.49 and a 200-day moving average of $313.77. 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 12-month low of $249.70 and a 12-month high of $346.85. The firm has a market cap of $170.04 billion, a P/E ratio of 45.28, a PEG ratio of 2.86 and a beta of 0.61.

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

Amgen Dividend Announcement

The firm also recently announced 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. This represents a $9.00 dividend on an annualized basis and a yield of 2.84%. Amgen’s payout ratio is presently 128.57%.

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.