Amgen Inc. (NASDAQ:AMGN) Shares Sold by Beech Hill Advisors Inc.

Beech Hill Advisors Inc. reduced its position in Amgen Inc. (NASDAQ:AMGN) by 37.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,350 shares of the medical research company’s stock after selling 800 shares during the period. Beech Hill Advisors Inc.’s holdings in Amgen were worth $435,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Amgen by 6.2% in the first quarter. Vanguard Group Inc. now owns 52,088,210 shares of the medical research company’s stock valued at $14,809,720,000 after purchasing an additional 3,045,657 shares during the last quarter. Capital International Investors raised its position in shares of Amgen by 547.8% in the 1st quarter. Capital International Investors now owns 7,005,269 shares of the medical research company’s stock valued at $1,991,738,000 after purchasing an additional 5,923,915 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Amgen by 6.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,701,631 shares of the medical research company’s stock valued at $844,137,000 after buying an additional 162,223 shares during the last quarter. Janus Henderson Group PLC grew its position in shares of Amgen by 137.1% during the first quarter. Janus Henderson Group PLC now owns 2,381,133 shares of the medical research company’s stock worth $676,984,000 after buying an additional 1,377,007 shares in the last quarter. Finally, Boston Partners increased its stake in shares of Amgen by 27.4% in the first quarter. Boston Partners now owns 2,237,334 shares of the medical research company’s stock worth $635,179,000 after buying an additional 481,214 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Jefferies Financial Group reaffirmed a “buy” rating and issued a $380.00 price target (up from $375.00) on shares of Amgen in a report on Wednesday, August 7th. Truist Financial lowered shares of Amgen from a “buy” rating to a “hold” rating and upped their target price for the company from $320.00 to $333.00 in a research note on Monday. Dbs Bank upgraded Amgen to a “strong-buy” rating in a research note on Monday, September 16th. Robert W. Baird reissued an “underperform” rating and issued a $215.00 price objective on shares of Amgen in a report on Wednesday, September 25th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $305.00 target price (down previously from $310.00) on shares of Amgen in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Amgen has a consensus rating of “Moderate Buy” and an average target price of $329.48.

Amgen Stock Down 1.1 %

AMGN stock opened at $321.63 on Thursday. The stock has a market cap of $172.53 billion, a PE ratio of 45.95, a price-to-earnings-growth ratio of 2.86 and a beta of 0.61. The firm’s 50-day simple moving average is $326.15 and its 200 day simple moving average is $311.56. Amgen Inc. has a fifty-two week low of $249.70 and a fifty-two week high of $346.85. 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 (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, August 6th. The medical research company reported $4.97 EPS for the quarter, missing the consensus estimate of $5.01 by ($0.04). The firm had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.35 billion. Amgen had a net margin of 10.12% and a return on equity of 161.72%. Amgen’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.00 EPS. As a group, sell-side analysts predict that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were given a dividend of $2.25 per share. The ex-dividend date was Friday, August 16th. This represents a $9.00 dividend on an annualized basis and a yield of 2.80%. Amgen’s dividend payout ratio (DPR) is presently 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.