Amgen Inc. (NASDAQ:AMGN) Holdings Raised by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc lifted its position in Amgen Inc. (NASDAQ:AMGN) by 0.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 57,954 shares of the medical research company’s stock after buying an additional 532 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Amgen were worth $18,673,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of AMGN. Capital Performance Advisors LLP acquired a new position in shares of Amgen during the third quarter worth approximately $25,000. Strategic Financial Concepts LLC bought a new position in Amgen during the 2nd quarter valued at about $26,000. Hershey Financial Advisers LLC bought a new position in shares of Amgen in the second quarter valued at approximately $30,000. nVerses Capital LLC acquired a new position in Amgen in the second quarter worth $31,000. Finally, Bbjs Financial Advisors LLC bought a new stake in Amgen during the 2nd quarter worth about $33,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on AMGN shares. William Blair reissued an “outperform” rating on shares of Amgen in a research note on Tuesday. UBS Group cut their price target on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Royal Bank of Canada reissued an “outperform” rating and set a $362.00 price target on shares of Amgen in a research report on Thursday, September 26th. TD Cowen increased their price target on shares of Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a report on Monday, October 21st. Finally, Truist Financial lowered shares of Amgen from a “buy” rating to a “hold” rating and increased their target price for the stock from $320.00 to $333.00 in a research report on Monday, October 14th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Amgen has an average rating of “Moderate Buy” and an average target price of $333.50.

Amgen Stock Performance

Shares of AMGN opened at $298.84 on Wednesday. The firm’s fifty day simple moving average is $322.74 and its two-hundred day simple moving average is $318.27. The stock has a market capitalization of $160.64 billion, a P/E ratio of 38.26, a price-to-earnings-growth ratio of 2.87 and a beta of 0.60. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. Amgen Inc. has a 12 month low of $260.52 and a 12 month high of $346.85.

Amgen (NASDAQ:AMGN) last issued its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.11 by $0.47. The company had revenue of $8.50 billion for 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%. Amgen’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same period last year, the business earned $4.96 EPS. As a group, analysts predict that Amgen Inc. will post 19.51 EPS for the current year.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 3.01%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s dividend payout ratio (DPR) is presently 115.24%.

About Amgen

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.