Canton Hathaway LLC Reduces Holdings in Amgen Inc. (NASDAQ:AMGN)

Canton Hathaway LLC trimmed its position in shares of Amgen Inc. (NASDAQ:AMGN) by 15.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 11,541 shares of the medical research company’s stock after selling 2,125 shares during the quarter. Amgen accounts for 0.7% of Canton Hathaway LLC’s investment portfolio, making the stock its 26th largest holding. Canton Hathaway LLC’s holdings in Amgen were worth $2,454,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Miracle Mile Advisors LLC raised its holdings in Amgen by 4.0% in the second quarter. Miracle Mile Advisors LLC now owns 1,077 shares of the medical research company’s stock worth $262,000 after purchasing an additional 41 shares in the last quarter. Wealth Alliance Advisory Group LLC raised its holdings in Amgen by 0.9% in the second quarter. Wealth Alliance Advisory Group LLC now owns 4,767 shares of the medical research company’s stock worth $1,162,000 after purchasing an additional 42 shares in the last quarter. Highland Private Wealth Management raised its holdings in Amgen by 3.0% in the second quarter. Highland Private Wealth Management now owns 1,465 shares of the medical research company’s stock worth $357,000 after purchasing an additional 42 shares in the last quarter. Green Square Capital Advisors LLC raised its holdings in Amgen by 4.9% in the second quarter. Green Square Capital Advisors LLC now owns 914 shares of the medical research company’s stock worth $223,000 after purchasing an additional 43 shares in the last quarter. Finally, Atlas Private Wealth Advisors grew its stake in shares of Amgen by 8.7% during the second quarter. Atlas Private Wealth Advisors now owns 537 shares of the medical research company’s stock worth $131,000 after acquiring an additional 43 shares during the last quarter. 74.95% of the stock is owned by institutional investors.

Shares of AMGN stock traded down $0.56 during trading hours on Thursday, hitting $203.97. 1,699,089 shares of the company’s stock were exchanged, compared to its average volume of 2,617,473. The company has a quick ratio of 1.36, a current ratio of 1.64 and a debt-to-equity ratio of 4.05. The firm has a market cap of $114.89 billion, a P/E ratio of 21.01, a P/E/G ratio of 1.47 and a beta of 0.61. The firm has a 50 day moving average of $209.99 and a two-hundred day moving average of $227.76. Amgen Inc. has a fifty-two week low of $200.47 and a fifty-two week high of $276.69.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, November 2nd. The medical research company reported $4.67 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.22 by $0.45. Amgen had a return on equity of 108.67% and a net margin of 21.77%. During the same period in the prior year, the company posted $4.37 earnings per share. On average, equities analysts forecast that Amgen Inc. will post 16.83 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 8th. Investors of record on Tuesday, November 16th will be paid a $1.76 dividend. This represents a $7.04 annualized dividend and a yield of 3.45%. The ex-dividend date is Monday, November 15th. Amgen’s dividend payout ratio is currently 72.50%.

A number of equities research analysts have recently weighed in on the company. SVB Leerink dropped their price target on Amgen from $234.00 to $216.00 and set a “market perform” rating on the stock in a research note on Wednesday, November 3rd. Oppenheimer dropped their target price on Amgen from $277.00 to $272.00 and set an “outperform” rating on the stock in a research report on Monday, November 1st. BMO Capital Markets started coverage on Amgen in a research report on Thursday, November 18th. They issued a “market perform” rating and a $228.00 target price on the stock. Royal Bank of Canada dropped their target price on Amgen from $217.00 to $216.00 and set a “sector perform” rating on the stock in a research report on Wednesday, November 3rd. Finally, Barclays lowered their price objective on Amgen from $230.00 to $228.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 3rd. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $235.50.

Amgen Company Profile

Amgen, Inc is a biotechnology company, which engages in the discovery, development, manufacture and marketing of human therapeutics. Its products include the following brands: Aranesp, Aimovig, KANJINTI, EVENITY, AMGEVITA, AVSOLA, BLINCYTO, MVASI, Corlanor, Enbrel, EPOGEN, IMLYGIC, Kyprolis, Neulasta, NEUPOGEN, Nplate, Parsabiv, Prolia, Repatha, Sensipar, Vectibix, Otezla, RIABNI, and XGEVA.

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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