Amgen Inc. (NASDAQ:AMGN) Stock Position Lowered by Coho Partners Ltd.

Coho Partners Ltd. cut its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 11.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 351,245 shares of the medical research company’s stock after selling 45,383 shares during the quarter. Amgen makes up approximately 4.1% of Coho Partners Ltd.’s holdings, making the stock its 8th biggest holding. Coho Partners Ltd. owned about 0.07% of Amgen worth $113,175,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AMGN. Capital International Investors boosted its stake in shares of Amgen by 547.8% during the first quarter. Capital International Investors now owns 7,005,269 shares of the medical research company’s stock valued at $1,991,738,000 after purchasing an additional 5,923,915 shares in the last quarter. Vanguard Group Inc. boosted its stake in Amgen by 6.2% in the first quarter. Vanguard Group Inc. now owns 52,088,210 shares of the medical research company’s stock valued at $14,809,720,000 after acquiring an additional 3,045,657 shares in the last quarter. International Assets Investment Management LLC boosted its stake in Amgen by 6,812.4% in the third quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock valued at $8,130,610,000 after acquiring an additional 2,486,882 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Amgen by 137.1% in the first quarter. Janus Henderson Group PLC now owns 2,381,133 shares of the medical research company’s stock valued at $676,984,000 after acquiring an additional 1,377,007 shares in the last quarter. Finally, Capital Wealth Planning LLC raised its holdings in shares of Amgen by 28,684.1% in the first quarter. Capital Wealth Planning LLC now owns 833,300 shares of the medical research company’s stock worth $236,924,000 after buying an additional 830,405 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors.

Amgen Stock Down 1.5 %

Shares of NASDAQ:AMGN opened at $314.90 on Thursday. The stock has a market cap of $168.92 billion, a P/E ratio of 44.99, a P/E/G ratio of 2.86 and a beta of 0.61. The firm has a fifty day moving average price of $325.77 and a 200 day moving average price of $313.12. 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 1-year low of $249.70 and a 1-year high of $346.85.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 EPS for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). The firm had revenue of $8.39 billion for the quarter, compared to analysts’ expectations of $8.35 billion. Amgen had a return on equity of 161.72% and a net margin of 10.12%. The firm’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.00 EPS. Sell-side analysts predict that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were issued a $2.25 dividend. The ex-dividend date was Friday, August 16th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.86%. Amgen’s dividend payout ratio is presently 128.57%.

Analysts Set New Price Targets

A number of research firms have issued reports on AMGN. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $362.00 price target on shares of Amgen in a report on Thursday, September 26th. Argus raised their target price on shares of Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $405.00 price objective on shares of Amgen in a report on Tuesday. Truist Financial lowered shares of Amgen from a “buy” rating to a “hold” rating and lifted their target price for the company from $320.00 to $333.00 in a research report on Monday, October 14th. Finally, Wells Fargo & Company lowered shares of Amgen from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $320.00 to $335.00 in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $332.55.

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.