Amgen Inc. (NASDAQ:AMGN) Shares Sold by Moors & Cabot Inc.

Moors & Cabot Inc. cut its position in shares of Amgen Inc. (NASDAQ:AMGN) by 2.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,449 shares of the medical research company’s stock after selling 426 shares during the quarter. Moors & Cabot Inc.’s holdings in Amgen were worth $6,589,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of AMGN. Bessemer Group Inc. grew its holdings in shares of Amgen by 29.3% during the first quarter. Bessemer Group Inc. now owns 37,202 shares of the medical research company’s stock worth $10,578,000 after buying an additional 8,441 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in Amgen by 2.7% in the first quarter. CANADA LIFE ASSURANCE Co now owns 49,931 shares of the medical research company’s stock valued at $14,241,000 after purchasing an additional 1,311 shares during the period. LGT Group Foundation grew its holdings in Amgen by 5.7% in the first quarter. LGT Group Foundation now owns 6,320 shares of the medical research company’s stock valued at $1,797,000 after purchasing an additional 341 shares during the period. Delap Wealth Advisory LLC purchased a new stake in Amgen in the first quarter valued at approximately $335,000. Finally, CreativeOne Wealth LLC grew its holdings in Amgen by 131.7% in the first quarter. CreativeOne Wealth LLC now owns 11,698 shares of the medical research company’s stock valued at $3,326,000 after purchasing an additional 6,650 shares during the period. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Stock Down 0.1 %

Shares of AMGN stock traded down $0.19 during trading hours on Wednesday, hitting $279.76. 1,214,692 shares of the company were exchanged, compared to its average volume of 2,454,860. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. Amgen Inc. has a one year low of $260.52 and a one year high of $346.85. The business’s 50-day simple moving average is $318.92 and its two-hundred day simple moving average is $318.43. The stock has a market capitalization of $150.38 billion, a price-to-earnings ratio of 35.85, a P/E/G ratio of 2.53 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping 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 analysts’ expectations of $8.50 billion. During the same quarter last year, the company posted $4.96 earnings per share. The company’s quarterly revenue was up 23.2% compared to the same quarter last year. Sell-side analysts predict that Amgen Inc. will post 19.51 EPS for the current fiscal year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 18th will be issued a $2.25 dividend. The ex-dividend date is Monday, November 18th. This represents a $9.00 dividend on an annualized basis and a yield of 3.22%. Amgen’s dividend payout ratio is currently 115.24%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on AMGN. TD Cowen boosted their target price on shares of Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a report on Monday, October 21st. Dbs Bank upgraded shares of Amgen to a “strong-buy” rating in a report on Monday, September 16th. William Blair reiterated an “outperform” rating on shares of Amgen in a research note on Tuesday, November 12th. Sanford C. Bernstein assumed coverage on shares of Amgen in a research note on Thursday, October 17th. They set an “outperform” rating and a $380.00 price objective for the company. Finally, StockNews.com upgraded shares of Amgen from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $333.57.

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.