Peloton Wealth Strategists Sells 5,840 Shares of Amgen Inc. (NASDAQ:AMGN)

Peloton Wealth Strategists trimmed its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 30.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,303 shares of the medical research company's stock after selling 5,840 shares during the quarter. Amgen makes up approximately 1.7% of Peloton Wealth Strategists' portfolio, making the stock its 20th largest position. Peloton Wealth Strategists' holdings in Amgen were worth $4,286,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in AMGN. Lantz Financial LLC raised its position in Amgen by 5.1% during the second quarter. Lantz Financial LLC now owns 1,779 shares of the medical research company's stock valued at $556,000 after acquiring an additional 87 shares in the last quarter. M&G Plc raised its holdings in shares of Amgen by 35.6% during the 2nd quarter. M&G Plc now owns 36,449 shares of the medical research company's stock valued at $11,372,000 after purchasing an additional 9,572 shares in the last quarter. Bbjs Financial Advisors LLC acquired a new stake in shares of Amgen in the 2nd quarter valued at $33,000. Gemmer Asset Management LLC boosted its holdings in Amgen by 75.3% in the second quarter. Gemmer Asset Management LLC now owns 1,443 shares of the medical research company's stock worth $451,000 after purchasing an additional 620 shares in the last quarter. Finally, Burke & Herbert Bank & Trust Co. acquired a new position in Amgen during the second quarter worth $402,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AMGN. Jefferies Financial Group restated a "buy" rating and issued a $380.00 target price on shares of Amgen in a report on Tuesday, November 12th. Wolfe Research assumed coverage on shares of Amgen in a research note on Friday, November 15th. They issued a "peer perform" rating for the company. Leerink Partners dropped their target price on shares of Amgen from $349.00 to $302.00 in a report on Wednesday, November 27th. Truist Financial lowered shares of Amgen from a "buy" rating to a "hold" rating and boosted their target price for the stock from $320.00 to $333.00 in a research report on Monday, October 14th. Finally, Robert W. Baird reaffirmed an "underperform" rating and issued a $215.00 price target on shares of Amgen in a research report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $323.05.

Amgen Trading Up 1.9 %

Shares of AMGN stock traded up $5.05 on Monday, reaching $277.63. 3,205,043 shares of the stock were exchanged, compared to its average volume of 4,574,809. The stock has a 50 day moving average price of $306.58 and a 200 day moving average price of $315.86. The stock has a market cap of $149.23 billion, a PE ratio of 34.90, a P/E/G ratio of 3.02 and a beta of 0.55. Amgen Inc. has a one year low of $257.80 and a one year high of $346.85. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96.

Amgen (NASDAQ:AMGN - Get Free Report) last released its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The company had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. During the same period in the prior year, the company posted $4.96 EPS. The company's revenue was up 23.2% compared to the same quarter last year. Equities research analysts forecast that Amgen Inc. will post 19.51 EPS for the current fiscal year.

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Stockholders 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 3.24%. The ex-dividend date of this dividend is Monday, November 18th. Amgen's dividend payout ratio (DPR) is currently 115.24%.

Amgen Company 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.