Amgen Inc. (NASDAQ:AMGN) Position Reduced by Mount Yale Investment Advisors LLC

Mount Yale Investment Advisors LLC cut its position in shares of Amgen Inc. (NASDAQ:AMGN) by 2.3% during the 3rd quarter, Holdings Channel reports. The firm owned 2,887 shares of the medical research company’s stock after selling 67 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Amgen were worth $930,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of AMGN. Strategic Financial Concepts LLC bought a new stake in Amgen in the second quarter worth about $26,000. Hershey Financial Advisers LLC acquired a new position in shares of Amgen in the 2nd quarter worth approximately $30,000. nVerses Capital LLC bought a new stake in shares of Amgen in the 2nd quarter worth approximately $31,000. Bbjs Financial Advisors LLC bought a new stake in shares of Amgen in the 2nd quarter worth approximately $33,000. Finally, Matrix Trust Co acquired a new stake in Amgen during the third quarter valued at approximately $36,000. Institutional investors own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on AMGN shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $362.00 price target on shares of Amgen in a report on Thursday, September 26th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $405.00 price target on shares of Amgen in a research report on Tuesday. Wells Fargo & Company downgraded Amgen from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $320.00 to $335.00 in a report on Wednesday, August 7th. Barclays upped their price objective on shares of Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Finally, Morgan Stanley dropped their target price on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 11th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Amgen currently has an average rating of “Moderate Buy” and a consensus price target of $332.55.

Amgen Price Performance

NASDAQ AMGN opened at $316.98 on Friday. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 9.64. The stock has a market capitalization of $170.04 billion, a PE ratio of 45.28, a price-to-earnings-growth ratio of 2.86 and a beta of 0.61. Amgen Inc. has a 12-month low of $249.70 and a 12-month high of $346.85. The company has a 50 day moving average price of $325.58 and a two-hundred day moving average price of $313.14.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.01 by ($0.04). The business had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.35 billion. Amgen had a net margin of 10.12% and a return on equity of 161.72%. The firm’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same period in the previous year, the firm posted $5.00 EPS. As a group, equities analysts predict that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.84%. Amgen’s payout ratio is 128.57%.

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.