Amgen Inc. (NASDAQ:AMGN) Shares Sold by Private Advisor Group LLC

Private Advisor Group LLC reduced its stake in Amgen Inc. (NASDAQ:AMGN) by 3.5% in the third quarter, HoldingsChannel reports. The fund owned 58,270 shares of the medical research company’s stock after selling 2,113 shares during the quarter. Private Advisor Group LLC’s holdings in Amgen were worth $18,775,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Meyer Handelman Co. lifted its holdings in Amgen by 7.2% in the 2nd quarter. Meyer Handelman Co. now owns 129,831 shares of the medical research company’s stock valued at $40,566,000 after acquiring an additional 8,700 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its holdings in Amgen by 37.4% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 11,642 shares of the medical research company’s stock worth $3,310,000 after buying an additional 3,168 shares in the last quarter. Oak Harvest Investment Services grew its position in Amgen by 19.1% in the first quarter. Oak Harvest Investment Services now owns 38,067 shares of the medical research company’s stock worth $10,823,000 after buying an additional 6,116 shares during the last quarter. EP Wealth Advisors LLC increased its holdings in shares of Amgen by 11.0% in the first quarter. EP Wealth Advisors LLC now owns 23,769 shares of the medical research company’s stock valued at $6,758,000 after buying an additional 2,353 shares in the last quarter. Finally, BNP Paribas acquired a new stake in shares of Amgen during the 1st quarter valued at $4,772,000. 76.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AMGN has been the topic of a number of recent analyst reports. Oppenheimer reaffirmed an “outperform” rating and set a $380.00 target price on shares of Amgen in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $305.00 price objective (down previously from $310.00) on shares of Amgen in a report on Wednesday, August 7th. Truist Financial cut shares of Amgen from a “buy” rating to a “hold” rating and raised their target price for the stock from $320.00 to $333.00 in a report on Monday, October 14th. Sanford C. Bernstein began coverage on shares of Amgen in a report on Thursday, October 17th. They set an “outperform” rating and a $380.00 price target on the stock. Finally, Dbs Bank raised shares of Amgen to a “strong-buy” rating in a research note on Monday, September 16th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $332.55.

Amgen Trading Down 1.5 %

Shares of NASDAQ AMGN opened at $314.90 on Thursday. The business has a 50 day simple moving average of $325.77 and a 200 day simple moving average of $313.12. Amgen Inc. has a 52 week low of $249.70 and a 52 week high of $346.85. The stock has a market cap of $168.92 billion, a price-to-earnings ratio of 44.99, a PEG ratio of 2.86 and a beta of 0.61. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.89 and a current ratio of 1.26.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, August 6th. The medical research company reported $4.97 EPS for the quarter, missing the consensus estimate of $5.01 by ($0.04). The business had revenue of $8.39 billion during the quarter, compared to the consensus estimate of $8.35 billion. Amgen had a return on equity of 161.72% and a net margin of 10.12%. The business’s revenue was up 20.1% on a year-over-year basis. During the same period in the prior year, the firm earned $5.00 earnings per share. On average, research analysts predict that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were issued a dividend of $2.25 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $9.00 annualized dividend and a yield of 2.86%. Amgen’s dividend payout ratio (DPR) is currently 128.57%.

Amgen 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.