Bray Capital Advisors trimmed its holdings in shares of Amgen, Inc. (NASDAQ:AMGN) by 1.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,694 shares of the medical research company’s stock after selling 262 shares during the quarter. Amgen accounts for about 1.5% of Bray Capital Advisors’ holdings, making the stock its 20th largest position. Bray Capital Advisors’ holdings in Amgen were worth $3,460,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of AMGN. Beutel Goodman & Co Ltd. purchased a new stake in Amgen in the second quarter worth $86,723,000. Mutual Advisors LLC increased its position in Amgen by 5.8% in the second quarter. Mutual Advisors LLC now owns 4,814 shares of the medical research company’s stock worth $889,000 after buying an additional 265 shares during the last quarter. Schwab Charles Investment Management Inc. increased its position in Amgen by 2.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 3,207,242 shares of the medical research company’s stock worth $592,025,000 after buying an additional 72,205 shares during the last quarter. Argent Trust Co increased its position in Amgen by 31.8% in the second quarter. Argent Trust Co now owns 11,691 shares of the medical research company’s stock worth $2,159,000 after buying an additional 2,818 shares during the last quarter. Finally, Perpetual Ltd increased its position in Amgen by 10.3% in the second quarter. Perpetual Ltd now owns 8,554 shares of the medical research company’s stock worth $1,582,000 after buying an additional 800 shares during the last quarter. 82.37% of the stock is owned by institutional investors.
Amgen stock opened at $190.75 on Wednesday. Amgen, Inc. has a one year low of $163.31 and a one year high of $210.19. The company has a debt-to-equity ratio of 2.05, a current ratio of 3.08 and a quick ratio of 2.84. The firm has a market capitalization of $119.20 billion, a PE ratio of 13.48, a P/E/G ratio of 1.95 and a beta of 1.37.
Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, October 30th. The medical research company reported $3.69 EPS for the quarter, topping the Zacks’ consensus estimate of $3.45 by $0.24. Amgen had a return on equity of 54.14% and a net margin of 9.44%. The firm had revenue of $5.90 billion during the quarter, compared to analyst estimates of $5.78 billion. During the same period last year, the company earned $3.27 earnings per share. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. Analysts anticipate that Amgen, Inc. will post 14.24 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 7th. Stockholders of record on Friday, November 16th will be issued a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date is Thursday, November 15th. Amgen’s payout ratio is currently 41.97%.
A number of analysts have issued reports on the company. Royal Bank of Canada reissued a “neutral” rating on shares of Amgen in a research report on Thursday, November 1st. Citigroup raised their target price on Amgen from $200.00 to $204.00 and gave the stock a “neutral” rating in a research report on Thursday, November 1st. Goldman Sachs Group reissued a “buy” rating and issued a $221.00 target price on shares of Amgen in a research report on Wednesday, October 31st. Morgan Stanley raised their target price on Amgen from $212.00 to $213.00 and gave the stock a “buy” rating in a research report on Wednesday, October 31st. Finally, Oppenheimer set a $224.00 target price on Amgen and gave the stock a “buy” rating in a research report on Tuesday, October 30th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $204.55.
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Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, nephrology, and neuroscience. The company's products include Evenity to treat osteoporosis in postmenopausal women; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Repatha to treat coronary diseases; Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Parsabiv to treat secondary hyperparathyroidism (sHPT); and Aimovig for the prevention of migraine.
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