Field & Main Bank reduced its holdings in Amgen Inc. (NASDAQ:AMGN) by 1.7% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,758 shares of the medical research company’s stock after selling 80 shares during the quarter. Field & Main Bank’s holdings in Amgen were worth $1,209,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in AMGN. Nordea Investment Management AB increased its stake in Amgen by 87.9% in the 2nd quarter. Nordea Investment Management AB now owns 8,358,990 shares of the medical research company’s stock worth $1,942,796,000 after acquiring an additional 3,911,383 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Amgen by 4.9% in the 2nd quarter. BlackRock Inc. now owns 48,729,584 shares of the medical research company’s stock worth $11,493,360,000 after purchasing an additional 2,267,217 shares in the last quarter. Morgan Stanley boosted its holdings in shares of Amgen by 7.4% in the 1st quarter. Morgan Stanley now owns 7,263,835 shares of the medical research company’s stock worth $1,472,598,000 after purchasing an additional 501,592 shares in the last quarter. Candriam Luxembourg S.C.A. boosted its holdings in shares of Amgen by 44.9% in the 3rd quarter. Candriam Luxembourg S.C.A. now owns 1,262,359 shares of the medical research company’s stock worth $320,827,000 after purchasing an additional 391,069 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Amgen by 147.8% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 645,445 shares of the medical research company’s stock worth $152,240,000 after purchasing an additional 384,997 shares in the last quarter. Institutional investors and hedge funds own 75.23% of the company’s stock.
In other news, Director Ronald D. Sugar sold 1,000 shares of the stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $241.02, for a total value of $241,020.00. Also, Director R Sanders Williams sold 250 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $242.95, for a total value of $60,737.50. Following the completion of the transaction, the director now directly owns 5,159 shares of the company’s stock, valued at approximately $1,253,379.05. The disclosure for this sale can be found here. 0.36% of the stock is currently owned by corporate insiders.
Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, July 28th. The medical research company reported $4.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.81 by $0.44. Amgen had a return on equity of 91.98% and a net margin of 30.04%. The firm had revenue of $6.21 billion during the quarter, compared to analyst estimates of $6.19 billion. During the same quarter in the prior year, the company earned $3.97 EPS. The business’s revenue was up 5.7% compared to the same quarter last year. Equities research analysts expect that Amgen Inc. will post 15.65 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 8th. Stockholders of record on Monday, November 16th will be given a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 2.82%. The ex-dividend date is Friday, November 13th. Amgen’s dividend payout ratio is currently 43.18%.
A number of equities analysts have recently issued reports on the company. ValuEngine cut Amgen from a “hold” rating to a “sell” rating in a report on Thursday, October 8th. Piper Sandler upped their price objective on Amgen from $255.00 to $270.00 and gave the stock an “overweight” rating in a report on Tuesday, July 28th. BidaskClub cut Amgen from a “sell” rating to a “strong sell” rating in a report on Saturday, October 17th. Cantor Fitzgerald increased their target price on Amgen from $263.00 to $279.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Finally, SVB Leerink increased their target price on Amgen from $253.00 to $261.00 and gave the company a “market perform” rating in a report on Wednesday, July 29th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fifteen have given a buy rating to the company’s stock. Amgen has a consensus rating of “Hold” and a consensus price target of $254.88.
Amgen Company Profile
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Sensipar/Mimpara to treat secondary hyperparathyroidism; and EPOGEN to treat anemia caused by chronic kidney disease.
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