Pitcairn Co. Trims Stock Position in Amgen Inc. (NASDAQ:AMGN)

Pitcairn Co. cut its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 8.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 16,137 shares of the medical research company’s stock after selling 1,488 shares during the period. Pitcairn Co.’s holdings in Amgen were worth $5,200,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AMGN. Pathway Financial Advisers LLC raised its stake in Amgen by 33,125.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock valued at $1,437,115,000 after acquiring an additional 4,446,757 shares during the last quarter. International Assets Investment Management LLC raised its stake in Amgen by 6,812.4% during the 3rd quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock valued at $8,130,610,000 after acquiring an additional 2,486,882 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of Amgen by 137.1% during the 1st 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. Assenagon Asset Management S.A. raised its stake in shares of Amgen by 561.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,539,733 shares of the medical research company’s stock worth $496,117,000 after buying an additional 1,306,982 shares in the last quarter. Finally, Granite Bay Wealth Management LLC raised its stake in shares of Amgen by 9,058.1% during the 2nd quarter. Granite Bay Wealth Management LLC now owns 756,460 shares of the medical research company’s stock worth $223,897,000 after buying an additional 748,200 shares in the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Price Performance

Shares of NASDAQ:AMGN opened at $294.53 on Friday. The business’s fifty day moving average price is $316.52 and its two-hundred day moving average price is $317.98. The stock has a market cap of $158.32 billion, a PE ratio of 37.71, a price-to-earnings-growth ratio of 2.59 and a beta of 0.60. 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 $260.68 and a one year high of $346.85.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. 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 firm earned $4.96 earnings per share. The business’s revenue was up 23.2% on a year-over-year basis. On average, analysts forecast that Amgen Inc. will post 19.52 EPS for the current fiscal year.

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 3.06%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s dividend payout ratio (DPR) is 115.24%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AMGN. TD Cowen increased their target price on Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Robert W. Baird reissued an “underperform” rating and set a $215.00 target price on shares of Amgen in a research note on Wednesday, September 25th. Sanford C. Bernstein began coverage on Amgen in a research note on Thursday, October 17th. They set an “outperform” rating and a $380.00 target price for the company. Jefferies Financial Group reissued a “buy” rating and set a $380.00 target price on shares of Amgen in a research note on Tuesday, November 12th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $405.00 price target on shares of Amgen in a report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.