Well Done LLC Cuts Position in Amgen Inc. (NASDAQ:AMGN)

Well Done LLC lessened its holdings in Amgen Inc. (NASDAQ:AMGN) by 6.0% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,355 shares of the medical research company’s stock after selling 87 shares during the period. Well Done LLC’s holdings in Amgen were worth $437,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Meyer Handelman Co. raised its holdings in shares of Amgen by 7.2% in the 2nd quarter. Meyer Handelman Co. now owns 129,831 shares of the medical research company’s stock worth $40,566,000 after purchasing an additional 8,700 shares during the period. Royal Fund Management LLC raised its holdings in shares of Amgen by 20.1% in the 1st quarter. Royal Fund Management LLC now owns 17,378 shares of the medical research company’s stock worth $4,960,000 after purchasing an additional 2,914 shares during the period. Hennion & Walsh Asset Management Inc. raised its holdings in shares of Amgen by 37.4% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 11,642 shares of the medical research company’s stock worth $3,310,000 after purchasing an additional 3,168 shares during the period. Oak Harvest Investment Services raised its holdings in shares of Amgen by 19.1% in the 1st quarter. Oak Harvest Investment Services now owns 38,067 shares of the medical research company’s stock worth $10,823,000 after purchasing an additional 6,116 shares during the period. Finally, EP Wealth Advisors LLC raised its holdings in shares of Amgen by 11.0% in the 1st quarter. EP Wealth Advisors LLC now owns 23,769 shares of the medical research company’s stock worth $6,758,000 after purchasing an additional 2,353 shares during the period. Institutional investors own 76.50% of the company’s stock.

Amgen Price Performance

NASDAQ AMGN traded down $1.32 during trading hours on Friday, reaching $320.01. 289,357 shares of the stock traded hands, compared to its average volume of 2,441,738. The stock has a 50 day simple moving average of $326.08 and a two-hundred day simple moving average of $311.63. Amgen Inc. has a 1 year low of $249.70 and a 1 year high of $346.85. The company has a debt-to-equity ratio of 9.64, a current ratio of 1.26 and a quick ratio of 0.89. The company has a market cap of $171.66 billion, a price-to-earnings ratio of 45.84, 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 earnings per share for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). Amgen had a net margin of 10.12% and a return on equity of 161.72%. The firm had revenue of $8.39 billion for the quarter, compared to analysts’ expectations of $8.35 billion. During the same quarter in the previous year, the business earned $5.00 EPS. The company’s revenue for the quarter was up 20.1% on a year-over-year basis. On average, analysts predict that Amgen Inc. will post 19.49 EPS for the current fiscal year.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were given a dividend of $2.25 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $9.00 dividend on an annualized basis and a yield of 2.81%. Amgen’s payout ratio is 128.57%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on AMGN shares. Robert W. Baird reaffirmed an “underperform” rating and issued a $215.00 price target on shares of Amgen in a report on Wednesday, September 25th. Oppenheimer restated an “outperform” rating and set a $380.00 target price on shares of Amgen in a research report on Wednesday, August 7th. Bank of America increased their target price on Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Barclays increased their target price on Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Finally, Cantor Fitzgerald initiated coverage on Amgen in a research report on Friday, September 27th. They set an “overweight” rating and a $405.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $329.48.

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.