Amgen Inc. (NASDAQ:AMGN) Shares Sold by Freedom Investment Management Inc.

Freedom Investment Management Inc. reduced its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 2.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,425 shares of the medical research company’s stock after selling 183 shares during the period. Freedom Investment Management Inc.’s holdings in Amgen were worth $2,070,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Townsquare Capital LLC grew its stake in Amgen by 3.1% in the third quarter. Townsquare Capital LLC now owns 28,794 shares of the medical research company’s stock worth $9,278,000 after purchasing an additional 855 shares in the last quarter. Shum Financial Group Inc. bought a new position in Amgen during the 3rd quarter worth approximately $352,000. Avestar Capital LLC grew its position in shares of Amgen by 8.1% in the 3rd quarter. Avestar Capital LLC now owns 4,570 shares of the medical research company’s stock worth $1,472,000 after acquiring an additional 344 shares in the last quarter. Brooklyn Investment Group raised its position in shares of Amgen by 1.1% during the 3rd quarter. Brooklyn Investment Group now owns 3,377 shares of the medical research company’s stock valued at $1,088,000 after acquiring an additional 38 shares in the last quarter. Finally, Quantbot Technologies LP bought a new position in Amgen during the third quarter worth $150,000. Institutional investors own 76.50% of the company’s stock.

Amgen Trading Down 4.8 %

Shares of AMGN stock opened at $280.01 on Wednesday. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. The stock has a 50-day simple moving average of $314.64 and a 200 day simple moving average of $317.84. Amgen Inc. has a fifty-two week low of $257.80 and a fifty-two week high of $346.85. The stock has a market capitalization of $150.51 billion, a P/E ratio of 35.85, a P/E/G ratio of 2.62 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, beating the consensus estimate of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The company had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.50 billion. During the same quarter last year, the firm posted $4.96 EPS. The business’s revenue for the quarter was up 23.2% on a year-over-year basis. On average, sell-side analysts expect that Amgen Inc. will post 19.52 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be given a dividend of $2.25 per share. The ex-dividend date is Monday, November 18th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.21%. Amgen’s dividend payout ratio (DPR) is presently 115.24%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AMGN. Truist Financial lowered shares of Amgen from a “buy” rating to a “hold” rating and boosted their target price for the company from $320.00 to $333.00 in a research note on Monday, October 14th. Dbs Bank upgraded shares of Amgen to a “strong-buy” rating in a research note on Monday, September 16th. Sanford C. Bernstein started coverage on shares of Amgen in a report on Thursday, October 17th. They issued an “outperform” rating and a $380.00 target price on the stock. StockNews.com upgraded Amgen from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. Finally, Barclays upped their price objective on Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average 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.