Aaron Wealth Advisors LLC Sells 6,783 Shares of Amgen Inc. (NASDAQ:AMGN)

Aaron Wealth Advisors LLC lowered its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 3.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 198,664 shares of the medical research company's stock after selling 6,783 shares during the quarter. Amgen comprises about 7.6% of Aaron Wealth Advisors LLC's holdings, making the stock its 2nd biggest holding. Aaron Wealth Advisors LLC's holdings in Amgen were worth $64,012,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Meyer Handelman Co. increased its position in shares of Amgen by 7.2% during the 2nd quarter. Meyer Handelman Co. now owns 129,831 shares of the medical research company's stock worth $40,566,000 after purchasing an additional 8,700 shares during the last quarter. Royal Fund Management LLC grew its stake in shares of Amgen by 20.1% in the first quarter. Royal Fund Management LLC now owns 17,378 shares of the medical research company's stock valued at $4,960,000 after buying an additional 2,914 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its stake in Amgen by 37.4% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 11,642 shares of the medical research company's stock worth $3,310,000 after purchasing an additional 3,168 shares during the period. Oak Harvest Investment Services lifted its position in shares of Amgen by 19.1% during the first quarter. Oak Harvest Investment Services now owns 38,067 shares of the medical research company's stock worth $10,823,000 after purchasing an additional 6,116 shares in the last quarter. Finally, EP Wealth Advisors LLC boosted its stake in shares of Amgen by 11.0% in the first quarter. EP Wealth Advisors LLC now owns 23,769 shares of the medical research company's stock valued at $6,758,000 after purchasing an additional 2,353 shares during the period. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Jefferies Financial Group reiterated a "buy" rating and set a $380.00 target price (up from $375.00) on shares of Amgen in a report on Wednesday, August 7th. Sanford C. Bernstein initiated coverage on Amgen in a report on Thursday. They issued an "outperform" rating and a $380.00 target price for the company. Wells Fargo & Company downgraded Amgen from an "overweight" rating to an "equal weight" rating and upped their price target for the stock from $320.00 to $335.00 in a report on Wednesday, August 7th. Argus lifted their price objective on Amgen from $300.00 to $340.00 and gave the company a "buy" rating in a research note on Thursday, June 27th. Finally, Oppenheimer restated an "outperform" rating and set a $380.00 target price on shares of Amgen in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $329.48.

Amgen Trading Up 0.1 %

Shares of NASDAQ AMGN traded up $0.33 during midday trading on Friday, hitting $321.66. The stock had a trading volume of 1,552,060 shares, compared to its average volume of 2,447,665. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 9.64. Amgen Inc. has a 1-year low of $249.70 and a 1-year high of $346.85. The company has a market capitalization of $172.55 billion, a price-to-earnings ratio of 45.95, a PEG ratio of 2.86 and a beta of 0.61. The company has a fifty day moving average price of $326.07 and a 200 day moving average price of $311.90.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 EPS for the quarter, missing the consensus estimate of $5.01 by ($0.04). Amgen had a net margin of 10.12% and a return on equity of 161.72%. The company had revenue of $8.39 billion during the quarter, compared to analysts' expectations of $8.35 billion. During the same period last year, the business earned $5.00 earnings per share. The company's revenue for the quarter was up 20.1% compared to the same quarter last year. On average, analysts predict that Amgen Inc. will post 19.49 earnings per share for the current year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were paid a dividend of $2.25 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $9.00 dividend on an annualized basis and a yield of 2.80%. Amgen's dividend payout ratio (DPR) is 128.57%.

Amgen Profile

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.