Amgen Inc. (NASDAQ:AMGN) Stock Holdings Lessened by Wrapmanager Inc.

Wrapmanager Inc. trimmed its stake in Amgen Inc. (NASDAQ:AMGN) by 11.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,856 shares of the medical research company’s stock after selling 498 shares during the quarter. Wrapmanager Inc.’s holdings in Amgen were worth $1,242,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in AMGN. Hillsdale Investment Management Inc. raised its position in Amgen by 44.3% during the first quarter. Hillsdale Investment Management Inc. now owns 1,400 shares of the medical research company’s stock valued at $398,000 after acquiring an additional 430 shares in the last quarter. Bessemer Group Inc. raised its position in Amgen by 29.3% during the first quarter. Bessemer Group Inc. now owns 37,202 shares of the medical research company’s stock valued at $10,578,000 after acquiring an additional 8,441 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its position in Amgen by 2.7% during the first quarter. CANADA LIFE ASSURANCE Co now owns 49,931 shares of the medical research company’s stock valued at $14,241,000 after acquiring an additional 1,311 shares in the last quarter. InterOcean Capital Group LLC raised its position in Amgen by 3.7% during the first quarter. InterOcean Capital Group LLC now owns 7,055 shares of the medical research company’s stock valued at $2,006,000 after acquiring an additional 250 shares in the last quarter. Finally, Ossiam raised its position in Amgen by 154.2% during the first quarter. Ossiam now owns 49,414 shares of the medical research company’s stock valued at $14,049,000 after acquiring an additional 29,975 shares in the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $405.00 price target on shares of Amgen in a report on Tuesday, October 22nd. UBS Group lowered their price target on Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Bank of America increased their price target on Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Truist Financial downgraded Amgen from a “buy” rating to a “hold” rating and increased their price target for the company from $320.00 to $333.00 in a report on Monday, October 14th. Finally, William Blair reiterated an “outperform” rating on shares of Amgen in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $333.57.

Amgen Stock Down 0.9 %

Shares of AMGN stock opened at $278.76 on Tuesday. The stock has a market cap of $149.84 billion, a P/E ratio of 35.69, a price-to-earnings-growth ratio of 2.53 and a beta of 0.60. Amgen Inc. has a one year low of $260.52 and a one year high of $346.85. The stock has a fifty day moving average price of $319.90 and a 200 day moving average price of $318.65. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96.

Amgen (NASDAQ:AMGN) last issued 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 company 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 revenue was up 23.2% on a year-over-year basis. During the same period last year, the business earned $4.96 earnings per share. Analysts predict that Amgen Inc. will post 19.51 earnings per share for the current year.

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Shareholders 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 dividend yield of 3.23%. Amgen’s payout ratio is presently 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.