Hudson Valley Investment Advisors Inc. ADV Has $403,000 Position in Amgen Inc. (NASDAQ:AMGN)

by · The Markets Daily

Hudson Valley Investment Advisors Inc. ADV cut its holdings in Amgen Inc. (NASDAQ:AMGN – Free Report) by 29.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,250 shares of the medical research company’s stock after selling 510 shares during the period. Hudson Valley Investment Advisors Inc. ADV’s holdings in Amgen were worth $403,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Keynote Financial Services LLC increased its stake in Amgen by 0.6% in the second quarter. Keynote Financial Services LLC now owns 4,898 shares of the medical research company’s stock valued at $1,530,000 after purchasing an additional 30 shares in the last quarter. Ascent Group LLC increased its position in Amgen by 0.3% in the 2nd quarter. Ascent Group LLC now owns 10,949 shares of the medical research company’s stock valued at $3,421,000 after buying an additional 31 shares in the last quarter. RFP Financial Group LLC raised its stake in Amgen by 17.1% during the 1st quarter. RFP Financial Group LLC now owns 219 shares of the medical research company’s stock worth $62,000 after buying an additional 32 shares during the period. Hofer & Associates. Inc boosted its holdings in Amgen by 0.5% in the second quarter. Hofer & Associates. Inc now owns 6,477 shares of the medical research company’s stock worth $2,024,000 after acquiring an additional 32 shares in the last quarter. Finally, Cadinha & Co. LLC grew its stake in Amgen by 0.6% in the third quarter. Cadinha & Co. LLC now owns 5,209 shares of the medical research company’s stock valued at $1,678,000 after acquiring an additional 32 shares during the period. Institutional investors own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AMGN. Jefferies Financial Group reiterated a “buy” rating and issued a $380.00 target price (up from $375.00) on shares of Amgen in a report on Wednesday, August 7th. Bank of America raised their price objective on shares of Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Robert W. Baird reissued an “underperform” rating and set a $215.00 target price on shares of Amgen in a research report on Wednesday, September 25th. Truist Financial cut shares of Amgen from a “buy” rating to a “hold” rating and raised their price target for the company from $320.00 to $333.00 in a research report on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $305.00 price objective (down from $310.00) on shares of Amgen in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $333.50.

Read Our Latest Stock Analysis on Amgen

Amgen Stock Performance

Shares of AMGN stock opened at $320.16 on Friday. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.89 and a current ratio of 1.26. The firm has a market cap of $172.03 billion, a price-to-earnings ratio of 40.99, a P/E/G ratio of 2.86 and a beta of 0.61. Amgen Inc. has a 52 week low of $249.70 and a 52 week high of $346.85. The firm’s 50-day simple moving average is $324.66 and its two-hundred day simple moving average is $314.82.

Amgen (NASDAQ:AMGN – Get Free Report) last posted its quarterly earnings results 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. Amgen had a net margin of 10.12% and a return on equity of 161.72%. The company had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.50 billion. During the same quarter in the previous year, the firm posted $4.96 EPS. Amgen’s revenue was up 23.2% on a year-over-year basis. As a group, equities analysts forecast that Amgen Inc. will post 19.49 earnings per share for the current year.

Amgen Announces Dividend

The company 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 dividend of $2.25 per share. The ex-dividend date is Monday, November 18th. This represents a $9.00 annualized dividend and a dividend yield of 2.81%. Amgen’s payout ratio is 115.24%.

Amgen Company Profile

(Free Report)

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.

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