Bellecapital International Ltd. Sells 891 Shares of Amgen Inc. (NASDAQ:AMGN)

Bellecapital International Ltd. lessened its holdings in Amgen Inc. (NASDAQ:AMGN) by 28.5% during the third quarter, HoldingsChannel.com reports. The firm owned 2,239 shares of the medical research company’s stock after selling 891 shares during the period. Bellecapital International Ltd.’s holdings in Amgen were worth $721,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Keynote Financial Services LLC lifted its position in Amgen by 0.6% during the 2nd quarter. Keynote Financial Services LLC now owns 4,898 shares of the medical research company’s stock worth $1,530,000 after buying an additional 30 shares in the last quarter. Ascent Group LLC raised its holdings in Amgen by 0.3% during the second quarter. Ascent Group LLC now owns 10,949 shares of the medical research company’s stock worth $3,421,000 after acquiring an additional 31 shares in the last quarter. RFP Financial Group LLC boosted its position in Amgen by 17.1% during the first quarter. RFP Financial Group LLC now owns 219 shares of the medical research company’s stock valued at $62,000 after purchasing an additional 32 shares during the last quarter. Hofer & Associates. Inc raised its holdings in shares of Amgen by 0.5% in the 2nd quarter. Hofer & Associates. Inc now owns 6,477 shares of the medical research company’s stock valued at $2,024,000 after purchasing an additional 32 shares during the period. Finally, Cadinha & Co. LLC grew its holdings in Amgen by 0.6% during the third quarter. Cadinha & Co. LLC now owns 5,209 shares of the medical research company’s stock worth $1,678,000 after purchasing an additional 32 shares during the period. Institutional investors own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on AMGN shares. TD Cowen raised their price objective on Amgen from $360.00 to $381.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Cantor Fitzgerald assumed coverage on shares of Amgen in a research report on Friday, September 27th. They set an “overweight” rating and a $405.00 price objective for the company. Bank of America upped their price target on shares of Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Jefferies Financial Group restated a “buy” rating and set a $380.00 price objective (up from $375.00) on shares of Amgen in a research report on Wednesday, August 7th. Finally, Truist Financial downgraded 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 report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Amgen presently has a consensus rating of “Moderate Buy” and an average target price of $332.45.

Amgen Trading Down 1.7 %

AMGN traded down $5.61 during trading on Monday, reaching $316.05. 306,653 shares of the company’s stock were exchanged, compared to its average volume of 2,437,674. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 9.64. Amgen Inc. has a one year low of $249.70 and a one year high of $346.85. The firm has a fifty day moving average price of $326.07 and a two-hundred day moving average price of $312.41. The stock has a market capitalization of $169.54 billion, a PE ratio of 45.95, a price-to-earnings-growth ratio of 2.86 and a beta of 0.61.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 earnings per share for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). The company 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%. The business’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $5.00 earnings per share. As a group, equities research analysts forecast that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date was Friday, August 16th. Amgen’s dividend payout ratio is currently 128.57%.

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.