Wells Fargo & Company MN lessened its stake in Amgen, Inc. (NASDAQ:AMGN) by 0.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,016,785 shares of the medical research company’s stock after selling 14,636 shares during the period. Wells Fargo & Company MN owned 0.93% of Amgen worth $1,247,219,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Kwmg LLC bought a new position in Amgen in the 2nd quarter worth approximately $108,000. Mainstay Capital Management LLC ADV bought a new position in Amgen in the 2nd quarter worth approximately $111,000. Polaris Greystone Financial Group LLC bought a new position in Amgen in the 3rd quarter worth approximately $166,000. Dixon Hubard Feinour & Brown Inc. VA bought a new position in Amgen in the 2nd quarter worth approximately $200,000. Finally, Family Firm Inc. bought a new position in Amgen in the 2nd quarter worth approximately $202,000. Hedge funds and other institutional investors own 82.37% of the company’s stock.
Several analysts have commented on AMGN shares. Morgan Stanley upped their target price on shares of Amgen from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Friday, July 13th. Jefferies Financial Group reiterated a “buy” rating and set a $200.00 target price on shares of Amgen in a research report on Monday, July 16th. Zacks Investment Research cut shares of Amgen from a “buy” rating to a “hold” rating in a research report on Tuesday, July 17th. BidaskClub cut shares of Amgen from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 19th. Finally, Piper Jaffray Companies upped their target price on shares of Amgen from $190.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday, July 26th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and eleven have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $204.55.
Shares of AMGN stock opened at $193.16 on Friday. Amgen, Inc. has a 12-month low of $163.31 and a 12-month high of $210.19. The firm has a market capitalization of $125.93 billion, a PE ratio of 15.35, a PEG ratio of 2.05 and a beta of 1.37. The company has a debt-to-equity ratio of 2.05, a current ratio of 3.08 and a quick ratio of 2.84.
Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, October 30th. The medical research company reported $3.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.45 by $0.24. Amgen had a net margin of 9.44% and a return on equity of 54.14%. The company had revenue of $5.90 billion during the quarter, compared to analyst estimates of $5.78 billion. During the same quarter in the previous year, the business earned $3.27 EPS. The firm’s revenue was up 2.3% on a year-over-year basis. Equities analysts expect that Amgen, Inc. will post 14.24 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 7th. Stockholders of record on Friday, November 16th will be issued a $1.32 dividend. This represents a $5.28 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend is Thursday, November 15th. Amgen’s dividend payout ratio (DPR) is 41.97%.
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Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, nephrology, and neuroscience. The company's products include Evenity to treat osteoporosis in postmenopausal women; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Repatha to treat coronary diseases; Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Parsabiv to treat secondary hyperparathyroidism (sHPT); and Aimovig for the prevention of migraine.
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