Amgen Inc. (NASDAQ:AMGN) Shares Sold by ORG Partners LLC

ORG Partners LLC lowered its position in Amgen Inc. (NASDAQ:AMGN) by 1.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,934 shares of the medical research company’s stock after selling 163 shares during the quarter. ORG Partners LLC’s holdings in Amgen were worth $2,880,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Strategic Financial Concepts LLC acquired a new position in Amgen in the second quarter valued at $26,000. Hershey Financial Advisers LLC purchased a new stake in shares of Amgen during the second quarter worth about $30,000. nVerses Capital LLC purchased a new stake in shares of Amgen during the second quarter worth about $31,000. Bbjs Financial Advisors LLC purchased a new stake in shares of Amgen during the second quarter worth about $33,000. Finally, Matrix Trust Co purchased a new stake in shares of Amgen during the third quarter worth about $36,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analyst Ratings Changes

AMGN has been the topic of a number of analyst reports. Wells Fargo & Company lowered Amgen from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $320.00 to $335.00 in a research report on Wednesday, August 7th. Truist Financial lowered Amgen from a “buy” rating to a “hold” rating and boosted their price objective for the company from $320.00 to $333.00 in a report on Monday. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $305.00 price objective (down from $310.00) on shares of Amgen in a report on Wednesday, August 7th. Morgan Stanley lowered their price objective on Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a report on Thursday, July 11th. Finally, Cantor Fitzgerald started coverage on Amgen in a report on Friday, September 27th. They set an “overweight” rating and a $405.00 target price for the company. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $326.95.

Amgen Price Performance

AMGN traded down $3.49 during trading on Monday, reaching $324.86. The stock had a trading volume of 275,925 shares, compared to its average volume of 2,455,724. The firm has a market capitalization of $174.27 billion, a price-to-earnings ratio of 46.91, a price-to-earnings-growth ratio of 2.86 and a beta of 0.61. 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 Inc. has a 1-year low of $249.70 and a 1-year high of $346.85. The stock has a 50 day moving average of $326.06 and a two-hundred day moving average of $310.92.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 EPS for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). Amgen had a net margin of 10.12% and a return on equity of 161.72%. The company had revenue of $8.39 billion for the quarter, compared to analyst estimates of $8.35 billion. During the same quarter last year, the company posted $5.00 EPS. Amgen’s revenue was up 20.1% on a year-over-year basis. As a group, equities analysts anticipate that Amgen Inc. will post 19.49 EPS for the current fiscal year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were given a dividend of $2.25 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.77%. Amgen’s dividend payout ratio (DPR) is presently 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.