Concentric Wealth Management LLC Sells 250 Shares of Amgen Inc. (NASDAQ:AMGN)

Concentric Wealth Management LLC lowered its position in shares of Amgen Inc. (NASDAQ:AMGN) by 1.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,025 shares of the medical research company’s stock after selling 250 shares during the quarter. Amgen accounts for approximately 2.0% of Concentric Wealth Management LLC’s investment portfolio, making the stock its 12th biggest holding. Concentric Wealth Management LLC’s holdings in Amgen were worth $8,386,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Lazard Asset Management LLC raised its stake in shares of Amgen by 4.4% in the first quarter. Lazard Asset Management LLC now owns 31,841 shares of the medical research company’s stock valued at $9,051,000 after buying an additional 1,353 shares during the period. Waverly Advisors LLC raised its holdings in Amgen by 54.4% during the 1st quarter. Waverly Advisors LLC now owns 9,628 shares of the medical research company’s stock valued at $2,737,000 after acquiring an additional 3,393 shares during the period. Bayesian Capital Management LP purchased a new stake in shares of Amgen during the first quarter worth $2,082,000. Kennedy Capital Management LLC purchased a new position in shares of Amgen in the first quarter valued at $3,240,000. Finally, Oxford Wealth Group LLC bought a new stake in shares of Amgen during the 1st quarter valued at $299,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Up 1.6 %

Shares of Amgen stock opened at $294.53 on Monday. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. Amgen Inc. has a 52-week low of $260.68 and a 52-week high of $346.85. The company’s 50 day moving average price is $316.52 and its 200-day moving average price is $318.18. The stock has a market capitalization of $158.32 billion, a price-to-earnings ratio of 37.71, a P/E/G ratio of 2.63 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data 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. The firm had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The company’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.96 earnings per share. Equities research analysts forecast that Amgen Inc. will post 19.52 EPS for the current year.

Amgen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be given a $2.25 dividend. The ex-dividend date is Monday, November 18th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.06%. Amgen’s dividend payout ratio is currently 115.24%.

Analyst Ratings Changes

A number of research analysts have weighed in on AMGN shares. Oppenheimer reaffirmed an “outperform” rating and set a $380.00 target price on shares of Amgen in a report on Wednesday, August 7th. Sanford C. Bernstein initiated coverage on shares of Amgen in a research note on Thursday, October 17th. They issued an “outperform” rating and a $380.00 target price on the stock. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $305.00 price target (down from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. Robert W. Baird reiterated an “underperform” rating and issued a $215.00 price objective on shares of Amgen in a research report on Wednesday, September 25th. Finally, StockNews.com raised Amgen from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Amgen currently has an average rating of “Moderate Buy” and an average target price of $333.57.

About Amgen

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.