Live Oak Investment Partners Sells 128 Shares of Amgen Inc. (NASDAQ:AMGN)

Live Oak Investment Partners trimmed its holdings in Amgen Inc. (NASDAQ:AMGN) by 14.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 765 shares of the medical research company’s stock after selling 128 shares during the period. Live Oak Investment Partners’ holdings in Amgen were worth $246,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in AMGN. Capital Performance Advisors LLP bought a new position in shares of Amgen in the third quarter valued at $25,000. Strategic Financial Concepts LLC bought a new position in shares of Amgen during the second quarter valued at about $26,000. Hershey Financial Advisers LLC bought a new position in shares of Amgen during the second quarter valued at about $30,000. nVerses Capital LLC bought a new position in shares of Amgen during the second quarter valued at about $31,000. Finally, Bbjs Financial Advisors LLC bought a new position in shares of Amgen during the second quarter valued at about $33,000. 76.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on AMGN. TD Cowen raised their price target on shares of Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Truist Financial lowered shares of Amgen from a “buy” rating to a “hold” rating and raised their price target for the company from $320.00 to $333.00 in a research report on Monday, October 14th. UBS Group decreased their price objective on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Robert W. Baird restated an “underperform” rating and set a $215.00 price objective on shares of Amgen in a report on Wednesday, September 25th. Finally, Dbs Bank upgraded shares of Amgen to a “strong-buy” rating in a report on Monday, September 16th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $333.50.

Amgen Trading Down 7.1 %

Shares of Amgen stock opened at $298.84 on Wednesday. Amgen Inc. has a 1 year low of $260.52 and a 1 year high of $346.85. The firm has a market cap of $160.64 billion, a PE ratio of 38.26, a PEG ratio of 2.90 and a beta of 0.60. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. The company has a 50 day simple moving average of $323.37 and a two-hundred day simple moving average of $318.07.

Amgen (NASDAQ:AMGN) last announced its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The business had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.50 billion. During the same period in the previous year, the business posted $4.96 earnings per share. Amgen’s revenue for the quarter was up 23.2% on a year-over-year basis. Analysts expect that Amgen Inc. will post 19.51 earnings per share for the current fiscal year.

Amgen Announces Dividend

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 issued a $2.25 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.01%. Amgen’s payout ratio is 115.24%.

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.