Amgen Inc. (NASDAQ:AMGN) Shares Sold by Massachusetts Wealth Management

Massachusetts Wealth Management lessened its position in Amgen Inc. (NASDAQ:AMGN) by 2.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,068 shares of the medical research company’s stock after selling 141 shares during the period. Amgen makes up 1.4% of Massachusetts Wealth Management’s portfolio, making the stock its 27th biggest position. Massachusetts Wealth Management’s holdings in Amgen were worth $2,277,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Hershey Financial Advisers LLC acquired a new position in Amgen during the 2nd quarter valued at about $30,000. nVerses Capital LLC bought a new position in shares of Amgen during the 2nd quarter valued at about $31,000. Bbjs Financial Advisors LLC bought a new position in shares of Amgen during the 2nd quarter valued at about $33,000. Matrix Trust Co bought a new position in shares of Amgen during the 3rd quarter valued at about $36,000. Finally, FSA Wealth Management LLC boosted its position in shares of Amgen by 182.0% during the 1st quarter. FSA Wealth Management LLC now owns 141 shares of the medical research company’s stock valued at $40,000 after purchasing an additional 91 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Oppenheimer restated an “outperform” rating and set a $380.00 price objective on shares of Amgen in a research report on Wednesday, August 7th. Robert W. Baird restated an “underperform” rating and set a $215.00 price objective on shares of Amgen in a research report on Wednesday, September 25th. Cantor Fitzgerald restated an “overweight” rating and set a $405.00 price objective on shares of Amgen in a research report on Tuesday. Morgan Stanley dropped their target price on shares of 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, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $305.00 target price (down from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. One 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 stock. Based on data from MarketBeat.com, Amgen has an average rating of “Moderate Buy” and a consensus price target of $332.55.

Amgen Stock Up 0.7 %

NASDAQ AMGN traded up $2.25 during trading on Friday, reaching $317.94. The company’s stock had a trading volume of 320,413 shares, compared to its average volume of 2,421,519. The business has a 50-day moving average price of $325.58 and a 200-day moving average price of $313.14. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 9.64. Amgen Inc. has a 1-year low of $249.70 and a 1-year high of $346.85. The stock has a market capitalization of $170.55 billion, a PE ratio of 45.57, a PEG ratio of 2.86 and a beta of 0.61.

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

Amgen Dividend Announcement

The company 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. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s payout ratio is 128.57%.

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.