Valley Wealth Managers Inc. Decreases Stock Position in Amgen Inc. (NASDAQ:AMGN)

Valley Wealth Managers Inc. lessened its holdings in Amgen Inc. (NASDAQ:AMGN) by 0.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 77,298 shares of the medical research company’s stock after selling 230 shares during the period. Amgen comprises 1.8% of Valley Wealth Managers Inc.’s holdings, making the stock its 8th biggest holding. Valley Wealth Managers Inc.’s holdings in Amgen were worth $24,906,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Capital Performance Advisors LLP bought a new stake in Amgen in the third quarter valued at approximately $25,000. Hershey Financial Advisers LLC acquired a new position in Amgen in the second quarter valued at approximately $30,000. nVerses Capital LLC acquired a new position in Amgen in the second quarter valued at approximately $31,000. Bbjs Financial Advisors LLC acquired a new position in Amgen in the second quarter valued at approximately $33,000. Finally, Matrix Trust Co acquired a new position in Amgen in the third quarter valued at approximately $36,000. Institutional investors own 76.50% of the company’s stock.

Amgen Trading Down 3.3 %

AMGN traded down $9.69 on Friday, hitting $286.24. 850,124 shares of the company were exchanged, compared to its average volume of 2,432,213. The firm has a fifty day simple moving average of $321.59 and a two-hundred day simple moving average of $318.00. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. Amgen Inc. has a 12 month low of $260.52 and a 12 month high of $346.85. The stock has a market capitalization of $153.86 billion, a PE ratio of 36.44, a price-to-earnings-growth ratio of 2.69 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, topping analysts’ consensus estimates of $5.11 by $0.47. The firm had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The business’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same period last year, the company earned $4.96 EPS. Sell-side analysts expect that Amgen Inc. will post 19.51 earnings per share for the current year.

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be given a $2.25 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.14%. Amgen’s dividend payout ratio is currently 115.24%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on AMGN shares. Dbs Bank raised Amgen to a “strong-buy” rating in a research note on Monday, September 16th. Jefferies Financial Group reaffirmed a “buy” rating and set a $380.00 target price on shares of Amgen in a research report on Tuesday. UBS Group lowered their target price on Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Truist Financial lowered Amgen from a “buy” rating to a “hold” rating and upped their target price for the stock from $320.00 to $333.00 in a research report on Monday, October 14th. Finally, Sanford C. Bernstein initiated coverage on Amgen in a research report on Thursday, October 17th. They set an “outperform” rating and a $380.00 target price on the stock. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Amgen currently has a consensus rating of “Moderate Buy” and a consensus price target of $333.57.

About Amgen

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.