United Asset Strategies Inc. Reduces Stock Position in Amgen Inc. (NASDAQ:AMGN)

by · The Markets Daily

United Asset Strategies Inc. trimmed its position in Amgen Inc. (NASDAQ:AMGN – Free Report) by 17.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,593 shares of the medical research company’s stock after selling 6,879 shares during the quarter. United Asset Strategies Inc.’s holdings in Amgen were worth $10,180,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Meyer Handelman Co. raised its holdings in shares of Amgen by 7.2% during the second quarter. Meyer Handelman Co. now owns 129,831 shares of the medical research company’s stock worth $40,566,000 after purchasing an additional 8,700 shares during the last quarter. EP Wealth Advisors LLC lifted its holdings in Amgen by 11.0% in the first 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 period. BNP Paribas purchased a new stake in Amgen in the 1st quarter worth approximately $4,772,000. Stanley Laman Group Ltd. acquired a new stake in shares of Amgen during the 2nd quarter worth approximately $3,354,000. Finally, Verity & Verity LLC increased its holdings in shares of Amgen by 2.7% during the 2nd 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 in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Stock Up 1.0 %

AMGN stock traded up $3.03 during midday trading on Thursday, hitting $318.57. The company’s stock had a trading volume of 660,918 shares, compared to its average volume of 2,411,166. Amgen Inc. has a 52-week low of $249.70 and a 52-week high of $346.85. The firm has a 50-day simple moving average of $324.75 and a 200-day simple moving average of $314.78. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 9.64. The firm has a market capitalization of $170.89 billion, a P/E ratio of 45.08, a PEG ratio of 2.86 and a beta of 0.61.

Amgen (NASDAQ:AMGN – Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.11 by $0.47. The business had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. Amgen had a return on equity of 161.72% and a net margin of 10.12%. The business’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same quarter last year, the business posted $4.96 EPS. As a group, equities analysts forecast that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be issued a $2.25 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.83%. Amgen’s payout ratio is currently 128.57%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on AMGN. TD Cowen lifted their price target on Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Royal Bank of Canada reissued an “outperform” rating and set a $362.00 target price on shares of Amgen in a research note on Thursday, September 26th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $305.00 price objective (down from $310.00) on shares of Amgen in a report on Wednesday, August 7th. Morgan Stanley decreased their target price on Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 11th. Finally, Wells Fargo & Company lowered Amgen from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $320.00 to $335.00 in a report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $332.55.

Check Out Our Latest Research Report on Amgen

Amgen Company Profile

(Free Report)

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.

Recommended Stories