Truvestments Capital LLC Sells 991 Shares of Amgen Inc. (NASDAQ:AMGN)

Truvestments Capital LLC cut its stake in Amgen Inc. (NASDAQ:AMGN) by 57.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 722 shares of the medical research company’s stock after selling 991 shares during the period. Truvestments Capital LLC’s holdings in Amgen were worth $233,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Capital Performance Advisors LLP acquired a new position in Amgen during the third quarter worth $25,000. Strategic Financial Concepts LLC bought a new stake in shares of Amgen in the 2nd quarter worth about $26,000. Hershey Financial Advisers LLC acquired a new stake in shares of Amgen during the 2nd quarter worth about $30,000. nVerses Capital LLC bought a new position in Amgen during the 2nd quarter valued at about $31,000. Finally, Bbjs Financial Advisors LLC acquired a new position in Amgen in the second quarter valued at about $33,000. Institutional investors own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AMGN. Jefferies Financial Group reaffirmed a “buy” rating and set a $380.00 price objective on shares of Amgen in a report on Tuesday, November 12th. TD Cowen lifted their price objective on Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Dbs Bank upgraded shares of Amgen to a “strong-buy” rating in a research report on Monday, September 16th. Barclays upped their target price 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, Robert W. Baird reissued an “underperform” rating and set a $215.00 price target on shares of Amgen in a research report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $333.57.

Amgen Trading Down 0.2 %

Amgen stock opened at $294.00 on Tuesday. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. The firm has a 50-day moving average of $315.69 and a 200-day moving average of $318.05. The company has a market cap of $158.03 billion, a price-to-earnings ratio of 37.64, a P/E/G ratio of 2.63 and a beta of 0.60. Amgen Inc. has a one year low of $260.68 and a one year high of $346.85.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, beating the consensus estimate of $5.11 by $0.47. The firm had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The business’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.96 earnings per share. On average, equities analysts expect that Amgen Inc. will post 19.52 earnings per share for the current fiscal year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be issued a dividend of $2.25 per share. The ex-dividend date is Monday, November 18th. This represents a $9.00 dividend on an annualized basis and a yield of 3.06%. Amgen’s payout ratio is 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.