Amgen Inc. (NASDAQ:AMGN) Shares Sold by HM Payson & Co.

HM Payson & Co. reduced its position in Amgen Inc. (NASDAQ:AMGN) by 1.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 199,180 shares of the medical research company’s stock after selling 2,933 shares during the period. Amgen makes up approximately 1.1% of HM Payson & Co.’s holdings, making the stock its 29th largest holding. HM Payson & Co.’s holdings in Amgen were worth $64,178,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of AMGN. Capital International Investors lifted its position in Amgen by 547.8% during the 1st quarter. Capital International Investors now owns 7,005,269 shares of the medical research company’s stock worth $1,991,738,000 after acquiring an additional 5,923,915 shares in the last quarter. Pathway Financial Advisers LLC lifted its position in Amgen by 33,125.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock worth $1,437,115,000 after acquiring an additional 4,446,757 shares in the last quarter. Vanguard Group Inc. lifted its position in Amgen by 6.2% during the 1st quarter. Vanguard Group Inc. now owns 52,088,210 shares of the medical research company’s stock worth $14,809,720,000 after acquiring an additional 3,045,657 shares in the last quarter. International Assets Investment Management LLC lifted its position in Amgen by 6,812.4% during the 3rd quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock worth $8,130,610,000 after acquiring an additional 2,486,882 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its position in Amgen by 137.1% during the 1st quarter. Janus Henderson Group PLC now owns 2,381,133 shares of the medical research company’s stock worth $676,984,000 after acquiring an additional 1,377,007 shares in the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AMGN. Oppenheimer reaffirmed an “outperform” rating and issued a $380.00 target price on shares of Amgen in a research report on Wednesday, August 7th. Morgan Stanley cut their target price on Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 11th. Robert W. Baird reaffirmed an “underperform” rating and issued a $215.00 target price on shares of Amgen in a research report on Wednesday, September 25th. Sanford C. Bernstein began coverage on Amgen in a research report on Thursday, October 17th. They issued an “outperform” rating and a $380.00 target price on the stock. Finally, TD Cowen upped their target price on Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a research report on Monday, October 21st. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $332.55.

Amgen Stock Performance

NASDAQ AMGN traded up $2.43 during trading hours on Thursday, hitting $317.97. The company had a trading volume of 167,525 shares, compared to its average volume of 2,408,827. The firm has a market cap of $170.57 billion, a P/E ratio of 45.08, a price-to-earnings-growth ratio of 2.86 and a beta of 0.61. 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 Inc. has a fifty-two week low of $249.70 and a fifty-two week high of $346.85. The business has a fifty day simple moving average of $324.75 and a 200-day simple moving average of $314.78.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. The company had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. Amgen had a return on equity of 161.72% and a net margin of 10.12%. The company’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same period last year, the company earned $4.96 earnings per share. Equities analysts predict that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be paid a dividend of $2.25 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $9.00 annualized dividend and a yield of 2.83%. Amgen’s dividend payout ratio 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.