PFG Advisors Decreases Stake in Amgen Inc. (NASDAQ:AMGN)

PFG Advisors reduced its position in Amgen Inc. (NASDAQ:AMGN) by 7.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,900 shares of the medical research company’s stock after selling 1,056 shares during the period. PFG Advisors’ holdings in Amgen were worth $4,156,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in AMGN. Keynote Financial Services LLC increased its position in shares of Amgen by 0.6% during the second quarter. Keynote Financial Services LLC now owns 4,898 shares of the medical research company’s stock worth $1,530,000 after acquiring an additional 30 shares during the period. Ascent Group LLC increased its position in shares of Amgen by 0.3% during the second quarter. Ascent Group LLC now owns 10,949 shares of the medical research company’s stock worth $3,421,000 after acquiring an additional 31 shares during the period. RFP Financial Group LLC increased its position in shares of Amgen by 17.1% during the first quarter. RFP Financial Group LLC now owns 219 shares of the medical research company’s stock worth $62,000 after acquiring an additional 32 shares during the period. Hofer & Associates. Inc increased its position in shares of Amgen by 0.5% during the second quarter. Hofer & Associates. Inc now owns 6,477 shares of the medical research company’s stock worth $2,024,000 after acquiring an additional 32 shares during the period. Finally, Cadinha & Co. LLC increased its position in shares of Amgen by 0.6% during the third quarter. Cadinha & Co. LLC now owns 5,209 shares of the medical research company’s stock worth $1,678,000 after acquiring an additional 32 shares during the period. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Price Performance

Shares of NASDAQ:AMGN opened at $325.09 on Wednesday. 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 company has a market cap of $174.39 billion, a P/E ratio of 46.44, a PEG ratio of 2.86 and a beta of 0.61. Amgen Inc. has a 52 week low of $249.70 and a 52 week high of $346.85. The company has a 50-day moving average price of $325.97 and a 200 day moving average price of $311.49.

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

Amgen Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were issued a $2.25 dividend. The ex-dividend date was Friday, August 16th. This represents a $9.00 dividend on an annualized basis and a yield of 2.77%. Amgen’s dividend payout ratio (DPR) is presently 128.57%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on AMGN shares. Robert W. Baird reissued an “underperform” rating and issued a $215.00 target price on shares of Amgen in a report on Wednesday, September 25th. Truist Financial lowered Amgen from a “buy” rating to a “hold” rating and increased their target price for the company from $320.00 to $333.00 in a report on Monday. Morgan Stanley dropped 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 increased their target price on Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $362.00 target price on shares of Amgen in a report on Thursday, September 26th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $326.95.

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.