Amgen Inc. (NASDAQ:AMGN) Stake Reduced by Phillips Wealth Planners LLC

Phillips Wealth Planners LLC cut its holdings in Amgen Inc. (NASDAQ:AMGN) by 4.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,100 shares of the medical research company’s stock after selling 147 shares during the quarter. Amgen comprises about 1.0% of Phillips Wealth Planners LLC’s investment portfolio, making the stock its 25th biggest holding. Phillips Wealth Planners LLC’s holdings in Amgen were worth $997,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Strategic Financial Concepts LLC bought a new stake in Amgen in the second quarter worth about $26,000. Hershey Financial Advisers LLC bought a new stake in Amgen in the second quarter worth about $30,000. nVerses Capital LLC bought a new stake in Amgen in the second quarter worth about $31,000. Bbjs Financial Advisors LLC acquired a new stake in Amgen during the 2nd quarter worth about $33,000. Finally, Matrix Trust Co acquired a new stake in Amgen during the 3rd quarter worth about $36,000. 76.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AMGN has been the topic of several recent analyst reports. UBS Group cut their price objective on Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a report on Thursday. Royal Bank of Canada restated an “outperform” rating and set a $362.00 price objective on shares of Amgen in a report on Thursday, September 26th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $305.00 price objective (down previously from $310.00) on shares of Amgen in a report on Wednesday, August 7th. Wells Fargo & Company downgraded Amgen from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $320.00 to $335.00 in a report on Wednesday, August 7th. Finally, Truist Financial cut Amgen from a “buy” rating to a “hold” rating and lifted their target price for the company from $320.00 to $333.00 in a research note on Monday, October 14th. One equities research 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’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $333.50.

Amgen Trading Down 0.3 %

Shares of NASDAQ AMGN opened at $319.22 on Friday. The stock has a market cap of $171.53 billion, a price-to-earnings ratio of 40.87, a PEG ratio of 2.84 and a beta of 0.61. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.89 and a current ratio of 1.26. The business has a 50 day simple moving average of $324.47 and a 200 day simple moving average of $315.19. Amgen Inc. has a 52 week low of $260.52 and a 52 week high of $346.85.

Amgen (NASDAQ:AMGN) last announced its earnings results 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. The firm had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. Amgen had a return on equity of 181.58% and a net margin of 13.00%. The company’s revenue was up 23.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.96 earnings per share. On average, research analysts predict that Amgen Inc. will post 19.48 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be issued a dividend of $2.25 per share. The ex-dividend date is Monday, November 18th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.82%. Amgen’s dividend payout ratio (DPR) is presently 115.24%.

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.