Bray Capital Advisors Lowers Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Bray Capital Advisors trimmed its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 2.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 15,921 shares of the medical research company’s stock after selling 325 shares during the period. Amgen makes up approximately 1.3% of Bray Capital Advisors’ holdings, making the stock its 21st largest position. Bray Capital Advisors’ holdings in Amgen were worth $5,130,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in AMGN. AIA Group Ltd bought a new stake in shares of Amgen during the first quarter valued at approximately $612,000. Susquehanna Fundamental Investments LLC bought a new stake in Amgen in the 1st quarter worth approximately $2,957,000. Montag A & Associates Inc. grew its position in Amgen by 84.8% in the 1st quarter. Montag A & Associates Inc. now owns 5,775 shares of the medical research company’s stock worth $1,642,000 after purchasing an additional 2,650 shares during the period. Atomi Financial Group Inc. grew its position in Amgen by 115.1% in the 1st quarter. Atomi Financial Group Inc. now owns 3,736 shares of the medical research company’s stock worth $1,062,000 after purchasing an additional 1,999 shares during the period. Finally, Chilton Capital Management LLC grew its position in Amgen by 5.9% in the 1st quarter. Chilton Capital Management LLC now owns 67,615 shares of the medical research company’s stock worth $19,224,000 after purchasing an additional 3,773 shares during the period. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AMGN. Sanford C. Bernstein started coverage on Amgen in a report on Thursday, October 17th. They issued an “outperform” rating and a $380.00 target price on the stock. Jefferies Financial Group restated a “buy” rating and set a $380.00 target price (up previously from $375.00) on shares of Amgen in a research note on Wednesday, August 7th. Truist Financial lowered shares of Amgen from a “buy” rating to a “hold” rating and upped their price target for the stock from $320.00 to $333.00 in a research report on Monday, October 14th. TD Cowen lifted their target price on shares of Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Finally, Dbs Bank raised shares of Amgen to a “strong-buy” rating in a report on Monday, September 16th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Amgen presently has an average rating of “Moderate Buy” and an average target price of $333.50.

Amgen Stock Up 1.0 %

Shares of NASDAQ AMGN opened at $325.28 on Friday. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. The firm has a market capitalization of $174.85 billion, a price-to-earnings ratio of 41.65, a PEG ratio of 2.79 and a beta of 0.60. The stock has a 50 day moving average price of $323.61 and a 200 day moving average price of $317.08. Amgen Inc. has a 52-week low of $260.52 and a 52-week high of $346.85.

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

Amgen Dividend Announcement

The firm 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 yield of 2.77%. The ex-dividend date is Monday, November 18th. Amgen’s dividend payout ratio (DPR) 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.