Amgen Inc. (NASDAQ:AMGN) Stock Position Cut by Kovack Advisors Inc.

Kovack Advisors Inc. trimmed its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 25.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,602 shares of the medical research company’s stock after selling 552 shares during the quarter. Kovack Advisors Inc.’s holdings in Amgen were worth $516,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in AMGN. Meyer Handelman Co. lifted its holdings in Amgen by 7.2% in the 2nd quarter. Meyer Handelman Co. now owns 129,831 shares of the medical research company’s stock valued at $40,566,000 after acquiring an additional 8,700 shares during the last quarter. EP Wealth Advisors LLC lifted its position in shares of Amgen by 11.0% during the 1st quarter. EP Wealth Advisors LLC now owns 23,769 shares of the medical research company’s stock valued at $6,758,000 after acquiring an additional 2,353 shares during the last quarter. Cornerstone Capital Inc. boosted its stake in shares of Amgen by 3.2% during the 3rd quarter. Cornerstone Capital Inc. now owns 106,538 shares of the medical research company’s stock worth $34,328,000 after acquiring an additional 3,260 shares in the last quarter. Stanley Laman Group Ltd. acquired a new stake in shares of Amgen during the second quarter worth $3,354,000. Finally, Verity & Verity LLC lifted its holdings in shares of Amgen by 2.7% during the second quarter. Verity & Verity LLC now owns 82,368 shares of the medical research company’s stock valued at $25,736,000 after purchasing an additional 2,182 shares during the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

AMGN has been the topic of several recent analyst reports. Truist Financial downgraded Amgen from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $320.00 to $333.00 in a report on Monday, October 14th. Royal Bank of Canada restated an “outperform” rating and issued a $362.00 price target on shares of Amgen in a research report on Thursday, September 26th. Oppenheimer reiterated an “outperform” rating and set a $380.00 price objective on shares of Amgen in a research report on Wednesday, August 7th. Jefferies Financial Group restated a “buy” rating and issued a $380.00 target price on shares of Amgen in a report on Tuesday. Finally, StockNews.com raised shares of Amgen from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $333.57.

Amgen Price Performance

Shares of NASDAQ:AMGN opened at $295.93 on Friday. The firm has a market capitalization of $159.07 billion, a PE ratio of 37.89, a PEG ratio of 2.67 and a beta of 0.60. 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 business’s 50 day moving average is $322.15 and its 200-day moving average is $318.15. Amgen Inc. has a 1-year low of $260.52 and a 1-year high of $346.85.

Amgen (NASDAQ:AMGN) last posted its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. The business had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The firm’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.96 earnings per share. Sell-side 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 $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date is Monday, November 18th. Amgen’s dividend payout ratio (DPR) is 115.24%.

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.