Modera Wealth Management LLC Sells 7,796 Shares of Amgen Inc. (NASDAQ:AMGN)

Modera Wealth Management LLC lessened its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 6.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 113,208 shares of the medical research company’s stock after selling 7,796 shares during the quarter. Modera Wealth Management LLC’s holdings in Amgen were worth $36,477,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Hershey Financial Advisers LLC purchased a new stake in Amgen during the 2nd quarter valued at $30,000. nVerses Capital LLC purchased a new stake in Amgen during the second quarter valued at $31,000. Bbjs Financial Advisors LLC bought a new stake in shares of Amgen during the 2nd quarter valued at about $33,000. Matrix Trust Co bought a new position in shares of Amgen in the 3rd quarter worth approximately $36,000. Finally, FSA Wealth Management LLC grew its position in Amgen by 182.0% during the first quarter. FSA Wealth Management LLC now owns 141 shares of the medical research company’s stock valued at $40,000 after buying an additional 91 shares during the period. 76.50% of the stock is currently owned by institutional investors.

Amgen Price Performance

AMGN stock opened at $316.98 on Friday. The company has a fifty day simple moving average of $325.49 and a two-hundred day simple moving average of $313.77. Amgen Inc. has a 52 week low of $249.70 and a 52 week high of $346.85. 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 $170.04 billion, a P/E ratio of 45.28, a price-to-earnings-growth ratio of 2.86 and a beta of 0.61.

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

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Investors 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 2.84%. Amgen’s dividend payout ratio is presently 128.57%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on AMGN shares. Cantor Fitzgerald reissued an “overweight” rating and set a $405.00 price objective on shares of Amgen in a research report on Tuesday, October 22nd. Truist Financial cut Amgen from a “buy” rating to a “hold” rating and upped their price target 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 lifted their price objective for the company from $320.00 to $335.00 in a research report on Wednesday, August 7th. Dbs Bank raised shares of Amgen to a “strong-buy” rating in a report on Monday, September 16th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $362.00 target price on shares of Amgen in a research note on Thursday, September 26th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $332.55.

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.