TCV Trust & Wealth Management Inc. Decreases Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

TCV Trust & Wealth Management Inc. lessened its stake in Amgen Inc. (NASDAQ:AMGN) by 1.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 56,802 shares of the medical research company’s stock after selling 956 shares during the quarter. Amgen makes up about 1.6% of TCV Trust & Wealth Management Inc.’s portfolio, making the stock its 15th biggest holding. TCV Trust & Wealth Management Inc.’s holdings in Amgen were worth $18,302,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the stock. Keynote Financial Services LLC boosted its holdings in shares of Amgen by 0.6% in the 2nd quarter. Keynote Financial Services LLC now owns 4,898 shares of the medical research company’s stock valued at $1,530,000 after buying an additional 30 shares in the last quarter. Ascent Group LLC boosted its stake in Amgen by 0.3% in the second quarter. Ascent Group LLC now owns 10,949 shares of the medical research company’s stock valued at $3,421,000 after acquiring an additional 31 shares in the last quarter. RFP Financial Group LLC grew its holdings in shares of Amgen by 17.1% during the first quarter. RFP Financial Group LLC now owns 219 shares of the medical research company’s stock worth $62,000 after purchasing an additional 32 shares during the last quarter. Hofer & Associates. Inc increased its position in shares of Amgen by 0.5% during the second quarter. Hofer & Associates. Inc now owns 6,477 shares of the medical research company’s stock worth $2,024,000 after purchasing an additional 32 shares in the last quarter. Finally, Cadinha & Co. LLC lifted its holdings in shares of Amgen by 0.6% in the 3rd quarter. Cadinha & Co. LLC now owns 5,209 shares of the medical research company’s stock valued at $1,678,000 after purchasing an additional 32 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Dbs Bank upgraded Amgen to a “strong-buy” rating in a research note on Monday, September 16th. Truist Financial cut 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 report on Monday, October 14th. Sanford C. Bernstein assumed coverage on shares of Amgen in a research report on Thursday, October 17th. They issued an “outperform” rating and a $380.00 price target for the company. Jefferies Financial Group reissued a “buy” rating and set a $380.00 price objective (up from $375.00) on shares of Amgen in a research report on Wednesday, August 7th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $362.00 target price on shares of Amgen in a research note on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Amgen presently has an average rating of “Moderate Buy” and an average target price of $332.55.

Amgen Stock Up 0.4 %

Shares of NASDAQ AMGN opened at $316.98 on Friday. The stock has a market capitalization of $170.04 billion, a price-to-earnings ratio of 45.28, a price-to-earnings-growth ratio of 2.86 and a beta of 0.61. Amgen Inc. has a 52 week low of $249.70 and a 52 week high of $346.85. The firm has a 50-day moving average price of $325.49 and a 200 day moving average price of $313.77. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 9.64.

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

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 18th will be given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.84%. Amgen’s payout ratio is 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.