Harbor Investment Advisory LLC sells 300 shares of Amgen Inc. (NASDAQ:AMGN)

Harbor Investment Advisory LLC reduced its holdings in shares of Amgen Inc. (NASDAQ:AMGN – Free Report) by 1.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,312 shares of the medical research company’s stock after selling 300 shares during the quarter. Amgen makes up about 0.7% of Harbor Investment Advisory LLC’s investment portfolio, making the stock its 25th largest holding. Harbor Investment Advisory LLC’s holdings in Amgen were worth $7,833,000 at the end of the most recent quarter.

A number of other hedge funds have added to or reduced their stakes in AMGN. Strategic Financial Concepts LLC acquired a new position in shares of Amgen in the second quarter worth approximately $26,000. Horizon Financial Services LLC bought a new position in Amgen in the first quarter worth about $28,000. Hershey Financial Advisers LLC acquired a new position in Amgen in the second quarter valued at about $30,000. nVerses Capital LLC bought a new stake in Amgen in the second quarter valued at approximately $31,000. Finally, Bbjs Financial Advisors LLC acquired a new stake in Amgen in the 2nd quarter valued at $33,000. Institutional investors own 76.50% of the company’s shares.

Amgen stock down 0.7%

AMGN stock traded up $2.18 during trading hours on Friday, reaching $319.66. The company had a trading volume of 1,467,846 shares, compared to its average volume of 2,495,004. The company has a market cap of $171.48 billion, a price-to-earnings ratio of 45.67, a price-to-earnings-growth ratio of 2.98 and a beta of 0.61. The company has a debt-to-equity ratio of 9.64, a current ratio of 1.26, and a quick ratio of 0.89. Amgen Inc. has a 12-month low of $249.70 and a 12-month high of $346.85. The company has a fifty day simple moving average of $327.28 and a 200 day simple moving average of $308.96.

Amgen (NASDAQ:AMGN – Get Your Free Report ) last issued its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 earnings per share 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 for the quarter, compared to the consensus estimate of $8.35 billion. In the same quarter last year, the company posted earnings of $5.00 per share. Amgen’s revenue rose 20.1% year over year. On average, research analysts expect that Amgen Inc. to post 19.49 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were given a $2.25 dividend. This represents a dividend of $9.00 on an annualized basis and a yield of 2.82%. The ex-dividend date of this dividend was Friday, August 16. Amgen’s payout ratio is 128.57%.

The Wall Street analyst weighs in

AMGN has been the subject of several analyst reports. Morgan Stanley decreased their price target on Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a research note on Thursday, July 11th. Dbs Bank upgraded the shares of Amgen in a report on Monday, September 16 to “strong-buy” rating. Oppenheimer restated an “outperform” rating and set a $380.00 price objective on shares of Amgen in a research report on Wednesday, August 7th. Bank of America lifted their price target on Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Finally, Wells Fargo & Company lowered Amgen from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $320.00 to $335.00 in a research note from Wednesday, August 7. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Moderate Buy” and a consensus price target of $325.55, according to MarketBeat.

Get the latest analysis on AMGN

Amgen profile

(Free report)

Amgen Inc discovers, develops, manufactures and delivers human therapies worldwide. The company’s main products include Enbrel for the treatment of plaque psoriasis, rheumatoid arthritis and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis and mouth ulcers associated with Behçet’s disease; Prolia for treating postmenopausal women with osteoporosis; XGEVA for the prevention of skeletal events; Repatha, which reduces the risks of myocardial infarction, stroke and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS for treating patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower than normal number of red blood cells and anaemia; EVENITY for the treatment of postmenopausal osteoporosis in men and women; Vectibix for treating patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA for treating thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.

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