Amgen Inc. (NASDAQ:AMGN) Shares Sold by W.G. Shaheen & Associates DBA Whitney & Co

W.G. Shaheen & Associates DBA Whitney & Co trimmed its position in Amgen Inc. (NASDAQ:AMGN) by 2.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 9,130 shares of the medical research company’s stock after selling 231 shares during the quarter. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in Amgen were worth $2,942,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new stake in Amgen in the 3rd quarter worth about $25,000. Strategic Financial Concepts LLC acquired a new stake in Amgen in the 2nd quarter worth about $26,000. Hershey Financial Advisers LLC acquired a new stake in Amgen in the 2nd quarter worth about $30,000. nVerses Capital LLC acquired a new stake in Amgen in the 2nd quarter worth about $31,000. Finally, Bbjs Financial Advisors LLC acquired a new position in shares of Amgen during the 2nd quarter worth approximately $33,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on AMGN shares. Bank of America boosted their target price on Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $305.00 target price (down from $310.00) on shares of Amgen in a report on Wednesday, August 7th. Sanford C. Bernstein started coverage on Amgen in a report on Thursday, October 17th. They set an “outperform” rating and a $380.00 target price on the stock. Truist Financial cut Amgen from a “buy” rating to a “hold” rating and boosted their target price for the stock from $320.00 to $333.00 in a report on Monday, October 14th. Finally, Dbs Bank upgraded Amgen to a “strong-buy” rating in a report on Monday, September 16th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $333.57.

Amgen Stock Down 0.9 %

Shares of NASDAQ AMGN opened at $278.76 on Tuesday. The business’s 50 day moving average is $319.90 and its two-hundred day moving average is $318.65. The firm has a market cap of $149.84 billion, a price-to-earnings ratio of 35.69, a PEG ratio of 2.53 and a beta of 0.60. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. Amgen Inc. has a 52-week low of $260.52 and a 52-week high of $346.85.

Amgen (NASDAQ:AMGN) last posted 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. The business had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The company’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.96 earnings per share. Research analysts predict that Amgen Inc. will post 19.51 EPS for the current year.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 18th will be paid a $2.25 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $9.00 annualized dividend and a dividend yield of 3.23%. Amgen’s dividend payout ratio (DPR) is 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.