Fiduciary Group LLC Sells 342 Shares of Amgen Inc. (NASDAQ:AMGN)

Fiduciary Group LLC cut its holdings in Amgen Inc. (NASDAQ:AMGNGet Rating) by 0.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,314 shares of the medical research company’s stock after selling 342 shares during the period. Amgen makes up 1.1% of Fiduciary Group LLC’s portfolio, making the stock its 27th largest position. Fiduciary Group LLC’s holdings in Amgen were worth $9,019,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Rational Advisors LLC purchased a new position in shares of Amgen in the first quarter valued at about $26,000. Capital Wealth Alliance LLC purchased a new position in shares of Amgen in the second quarter valued at about $26,000. Blue Bell Private Wealth Management LLC increased its position in shares of Amgen by 420.0% during the second quarter. Blue Bell Private Wealth Management LLC now owns 130 shares of the medical research company’s stock valued at $32,000 after buying an additional 105 shares during the period. Lumature Wealth Partners LLC increased its position in shares of Amgen by 51.1% during the first quarter. Lumature Wealth Partners LLC now owns 142 shares of the medical research company’s stock valued at $34,000 after buying an additional 48 shares during the period. Finally, Steward Financial Group LLC increased its position in shares of Amgen by 130.7% during the second quarter. Steward Financial Group LLC now owns 173 shares of the medical research company’s stock valued at $42,000 after buying an additional 98 shares during the period. Hedge funds and other institutional investors own 77.14% of the company’s stock.

Amgen Trading Down 1.3 %

Shares of AMGN traded down $3.65 during mid-day trading on Thursday, reaching $283.40. The stock had a trading volume of 2,875,640 shares, compared to its average volume of 3,087,667. The business’s fifty day moving average is $255.35 and its 200 day moving average is $248.70. Amgen Inc. has a 52-week low of $198.64 and a 52-week high of $296.67. The company has a debt-to-equity ratio of 10.17, a current ratio of 1.68 and a quick ratio of 1.35. The firm has a market cap of $151.22 billion, a price-to-earnings ratio of 22.73, a P/E/G ratio of 2.29 and a beta of 0.64.

Amgen (NASDAQ:AMGNGet Rating) last issued its earnings results on Thursday, November 3rd. The medical research company reported $4.70 earnings per share for the quarter, beating the consensus estimate of $4.44 by $0.26. The firm had revenue of $6.65 billion for the quarter, compared to analysts’ expectations of $6.56 billion. Amgen had a net margin of 25.96% and a return on equity of 287.23%. The firm’s revenue was down .8% compared to the same quarter last year. During the same quarter last year, the company earned $4.67 earnings per share. On average, sell-side analysts predict that Amgen Inc. will post 17.64 EPS for the current fiscal year.

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 8th. Investors of record on Thursday, November 17th will be issued a dividend of $1.94 per share. This represents a $7.76 annualized dividend and a dividend yield of 2.74%. The ex-dividend date of this dividend is Wednesday, November 16th. Amgen’s dividend payout ratio is presently 62.23%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Truist Financial boosted their price target on shares of Amgen from $266.00 to $280.00 and gave the company a “hold” rating in a research report on Tuesday, November 8th. Morgan Stanley boosted their price target on shares of Amgen from $279.00 to $282.00 and gave the company an “overweight” rating in a research report on Friday, November 4th. Credit Suisse Group initiated coverage on shares of Amgen in a research report on Thursday, November 17th. They set an “underperform” rating and a $240.00 price target on the stock. Piper Sandler upped their price objective on shares of Amgen from $265.00 to $278.00 and gave the stock an “overweight” rating in a report on Friday, November 4th. Finally, Atlantic Securities cut their price objective on shares of Amgen from $190.00 to $182.00 and set an “underweight” rating on the stock in a report on Tuesday, August 9th. Four analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $248.19.

Insider Buying and Selling

In other news, SVP Nancy A. Grygiel sold 545 shares of Amgen stock in a transaction on Tuesday, November 8th. The stock was sold at an average price of $293.54, for a total transaction of $159,979.30. Following the completion of the transaction, the senior vice president now owns 13,009 shares of the company’s stock, valued at approximately $3,818,661.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.46% of the company’s stock.

Amgen Profile

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Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology, and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta that reduces the chance of infection due a low white blood cell count in patients cancer; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; and Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization.

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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