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Camarda Financial Advisors LLC Trims Stake in Amgen Inc. (NASDAQ:AMGN)

Financial News Live ·  Jan 27, 2023 16:52

Camarda Financial Advisors LLC trimmed its holdings in shares of Amgen Inc. (NASDAQ:AMGN – Get Rating) by 60.5% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 7,486 shares of the medical research company's stock after selling 11,488 shares during the period. Amgen makes up about 2.0% of Camarda Financial Advisors LLC's investment portfolio, making the stock its 12th largest position. Camarda Financial Advisors LLC's holdings in Amgen were worth $1,687,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AMGN. M. Kulyk & Associates LLC boosted its holdings in shares of Amgen by 1.9% in the 3rd quarter. M. Kulyk & Associates LLC now owns 21,424 shares of the medical research company's stock worth $4,829,000 after purchasing an additional 401 shares in the last quarter. Mount Yale Investment Advisors LLC purchased a new position in shares of Amgen in the 3rd quarter worth about $578,000. Institutional & Family Asset Management LLC boosted its holdings in shares of Amgen by 1.1% in the 3rd quarter. Institutional & Family Asset Management LLC now owns 23,735 shares of the medical research company's stock worth $5,350,000 after purchasing an additional 260 shares in the last quarter. Samson Rock Capital LLP purchased a new position in shares of Amgen in the 3rd quarter worth about $633,000. Finally, Arete Wealth Advisors LLC boosted its holdings in Amgen by 181.3% during the 3rd quarter. Arete Wealth Advisors LLC now owns 7,223 shares of the medical research company's stock valued at $1,628,000 after acquiring an additional 4,655 shares during the period. 75.53% of the stock is currently owned by hedge funds and other institutional investors.

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Amgen Stock Down 0.3 %

Shares of NASDAQ:AMGN traded down $0.77 during trading on Friday, hitting $254.11. The stock had a trading volume of 546,844 shares, compared to its average volume of 2,022,669. Amgen Inc. has a 12 month low of $214.39 and a 12 month high of $296.67. The company has a market capitalization of $135.59 billion, a PE ratio of 20.33, a PEG ratio of 1.82 and a beta of 0.67. The firm's fifty day moving average is $272.02 and its 200 day moving average is $257.02. The company has a quick ratio of 1.35, a current ratio of 1.68 and a debt-to-equity ratio of 10.17.

Amgen (NASDAQ:AMGN – Get Rating) last announced its earnings results on Thursday, November 3rd. The medical research company reported $4.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.43 by $0.27. Amgen had a return on equity of 287.23% and a net margin of 25.96%. The firm had revenue of $6.65 billion during the quarter, compared to analyst estimates of $6.56 billion. During the same quarter in the prior year, the company earned $4.67 EPS. The business's revenue was down .8% compared to the same quarter last year. Analysts anticipate that Amgen Inc. will post 17.62 EPS for the current fiscal year.

Amgen Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 8th. Investors of record on Wednesday, February 15th will be paid a $2.13 dividend. The ex-dividend date of this dividend is Tuesday, February 14th. This represents a $8.52 annualized dividend and a dividend yield of 3.35%. This is an increase from Amgen's previous quarterly dividend of $1.94. Amgen's dividend payout ratio is presently 62.23%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AMGN. Truist Financial increased their target price on Amgen from $266.00 to $280.00 and gave the company a "hold" rating in a report on Tuesday, November 8th. StockNews.com cut Amgen from a "strong-buy" rating to a "buy" rating in a report on Thursday. Oppenheimer increased their target price on Amgen from $300.00 to $310.00 and gave the company an "outperform" rating in a report on Tuesday, December 6th. Piper Sandler dropped their target price on Amgen from $299.00 to $293.00 and set an "overweight" rating for the company in a report on Thursday, January 19th. Finally, SVB Leerink increased their target price on Amgen from $256.00 to $282.00 and gave the company a "market perform" rating in a report on Thursday, December 22nd. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $253.57.

Insider Buying and Selling

In related news, SVP Nancy A. Grygiel sold 545 shares of the company's stock in a transaction that occurred on Tuesday, November 8th. The stock was sold at an average price of $293.54, for a total value of $159,979.30. Following the sale, the senior vice president now owns 13,009 shares in the company, valued at approximately $3,818,661.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.46% of the stock is currently owned by company insiders.

About Amgen

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Amgen, Inc is a biotechnology company, which engages in the discovery, development, manufacture and marketing of human therapeutics. Its products include the following brands: Aranesp, Aimovig, KANJINTI, EVENITY, AMGEVITA, AVSOLA, BLINCYTO, MVASI, Corlanor, Enbrel, EPOGEN, IMLYGIC, Kyprolis, Neulasta, NEUPOGEN, Nplate, Parsabiv, Prolia, Repatha, Sensipar, Vectibix, Otezla, RIABNI, and XGEVA.

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