Amgen Inc. (NASDAQ:AMGN) is Round Hill Asset Management’s 2nd Largest Position

Round Hill Asset Management trimmed its position in Amgen Inc. (NASDAQ:AMGN) by 7.8% during the third quarter, HoldingsChannel.com reports. The firm owned 44,319 shares of the medical research company’s stock after selling 3,741 shares during the quarter. Amgen comprises 9.5% of Round Hill Asset Management’s investment portfolio, making the stock its 2nd biggest position. Round Hill Asset Management’s holdings in Amgen were worth $14,280,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of AMGN. Capital Performance Advisors LLP acquired a new stake in Amgen in the 3rd quarter valued at $25,000. Hershey Financial Advisers LLC acquired a new stake in shares of Amgen in the second quarter valued at about $30,000. nVerses Capital LLC acquired a new position in Amgen during the 2nd quarter worth approximately $31,000. Bbjs Financial Advisors LLC acquired a new stake in Amgen in the second quarter valued at approximately $33,000. Finally, Matrix Trust Co acquired a new position in shares of Amgen during the third quarter worth $36,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on AMGN. UBS Group dropped their price target on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Dbs Bank upgraded shares of Amgen to a “strong-buy” rating in a research note on Monday, September 16th. Sanford C. Bernstein started coverage on shares of Amgen in a research report on Thursday, October 17th. They set an “outperform” rating and a $380.00 price target on the stock. Barclays upped their price objective on Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Finally, Oppenheimer reissued an “outperform” rating and set a $380.00 price target on shares of Amgen in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $333.57.

Amgen Price Performance

NASDAQ AMGN opened at $294.53 on Friday. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. Amgen Inc. has a 1 year low of $260.68 and a 1 year high of $346.85. The company has a market cap of $158.32 billion, a PE ratio of 37.71, a PEG ratio of 2.59 and a beta of 0.60. The stock’s 50-day moving average price is $316.52 and its two-hundred day moving average price is $318.11.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, beating the consensus estimate of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The business had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.50 billion. During the same quarter in the prior year, the firm earned $4.96 EPS. The firm’s quarterly revenue was up 23.2% on a year-over-year basis. On average, analysts predict that Amgen Inc. will post 19.52 EPS for the current year.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be issued a dividend of $2.25 per share. The ex-dividend date is Monday, November 18th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.06%. Amgen’s dividend payout ratio is 115.24%.

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.