Legend Financial Advisors Inc. Has $123,000 Stake in Amgen Inc. (NASDAQ:AMGN)

Legend Financial Advisors Inc. reduced its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 19.8% in the third quarter, HoldingsChannel.com reports. The fund owned 381 shares of the medical research company’s stock after selling 94 shares during the quarter. Legend Financial Advisors Inc.’s holdings in Amgen were worth $123,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Strategic Financial Concepts LLC bought a new stake in Amgen in the second quarter worth approximately $26,000. Hershey Financial Advisers LLC acquired a new position in shares of Amgen during the 2nd quarter valued at $30,000. nVerses Capital LLC bought a new position in Amgen during the second quarter worth $31,000. Bbjs Financial Advisors LLC acquired a new stake in Amgen in the second quarter worth $33,000. Finally, Matrix Trust Co bought a new stake in Amgen in the third quarter valued at $36,000. 76.50% of the stock is owned by institutional investors.

Amgen Price Performance

NASDAQ:AMGN opened at $321.66 on Friday. The firm has a market capitalization of $172.55 billion, a price-to-earnings ratio of 45.95, a P/E/G ratio of 2.86 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 stock has a fifty day moving average of $326.07 and a 200 day moving average of $311.90. Amgen Inc. has a 52-week low of $249.70 and a 52-week high of $346.85.

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

Amgen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were paid a $2.25 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.80%. Amgen’s dividend payout ratio (DPR) is 128.57%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Truist Financial cut shares of Amgen from a “buy” rating to a “hold” rating and increased their price objective for the stock from $320.00 to $333.00 in a research report on Monday, October 14th. Wells Fargo & Company cut 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 research note on Wednesday, August 7th. Morgan Stanley cut their target price on Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a report on Thursday, July 11th. Barclays upped their price objective on shares of Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Finally, Bank of America boosted their target price on shares of Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $329.48.

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.