Cadence Bank Sells 223 Shares of Amgen Inc. (NASDAQ:AMGN)

Cadence Bank trimmed its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 3.9% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 5,503 shares of the medical research company’s stock after selling 223 shares during the quarter. Cadence Bank’s holdings in Amgen were worth $1,773,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Shum Financial Group Inc. purchased a new position in Amgen in the third quarter valued at $352,000. Avestar Capital LLC grew its holdings in Amgen by 8.1% during the 3rd quarter. Avestar Capital LLC now owns 4,570 shares of the medical research company’s stock worth $1,472,000 after acquiring an additional 344 shares in the last quarter. Brooklyn Investment Group increased its position in shares of Amgen by 1.1% in the 3rd quarter. Brooklyn Investment Group now owns 3,377 shares of the medical research company’s stock valued at $1,088,000 after purchasing an additional 38 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of Amgen during the 3rd quarter worth $150,000. Finally, D.A. Davidson & CO. increased its holdings in Amgen by 2.4% in the third quarter. D.A. Davidson & CO. now owns 217,734 shares of the medical research company’s stock valued at $70,156,000 after buying an additional 5,056 shares during the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AMGN has been the topic of a number of recent analyst reports. Citigroup started coverage on Amgen in a report on Thursday, November 14th. They issued a “neutral” rating and a $335.00 price objective on the stock. Sanford C. Bernstein began coverage on shares of Amgen in a research note on Thursday, October 17th. They issued an “outperform” rating and a $380.00 price objective for the company. William Blair reissued an “outperform” rating on shares of Amgen in a research report on Tuesday, November 12th. Cantor Fitzgerald restated an “overweight” rating and set a $405.00 target price on shares of Amgen in a research report on Tuesday, October 22nd. Finally, Wolfe Research initiated coverage on shares of Amgen in a research note on Friday, November 15th. They set a “peer perform” rating for the company. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Amgen currently has a consensus rating of “Moderate Buy” and a consensus target price of $333.57.

Amgen Price Performance

Amgen stock opened at $280.01 on Wednesday. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. The firm’s 50-day simple moving average is $314.64 and its 200 day simple moving average is $317.84. Amgen Inc. has a 52 week low of $257.80 and a 52 week high of $346.85. The firm has a market capitalization of $150.51 billion, a PE ratio of 35.85, a P/E/G ratio of 2.63 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 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 for the quarter, compared to analyst estimates of $8.50 billion. During the same period in the prior year, the business earned $4.96 earnings per share. The company’s quarterly revenue was up 23.2% on a year-over-year basis. On average, equities research analysts predict that Amgen Inc. will post 19.52 EPS for the current fiscal year.

Amgen Dividend Announcement

The business also recently declared 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 3.21%. Amgen’s dividend payout ratio (DPR) is 115.24%.

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.