Amgen Inc. (NASDAQ:AMGN) Shares Bought by State Street Corp

State Street Corp raised its holdings in Amgen Inc. (NASDAQ:AMGN) by 1.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 29,317,018 shares of the medical research company’s stock after acquiring an additional 345,537 shares during the period. State Street Corp owned approximately 0.05% of Amgen worth $9,446,236,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Lantz Financial LLC grew its stake in shares of Amgen by 5.1% during the second quarter. Lantz Financial LLC now owns 1,779 shares of the medical research company’s stock valued at $556,000 after acquiring an additional 87 shares in the last quarter. BDF Gestion bought a new stake in Amgen during the second quarter valued at $7,459,000. CCM Investment Advisers LLC acquired a new position in shares of Amgen in the 2nd quarter valued at about $219,000. Orrstown Financial Services Inc. boosted its holdings in shares of Amgen by 2.7% in the 2nd quarter. Orrstown Financial Services Inc. now owns 1,538 shares of the medical research company’s stock valued at $481,000 after buying an additional 40 shares during the period. Finally, R.H. Dinel Investment Counsel Inc. boosted its holdings in shares of Amgen by 6.2% in the 2nd quarter. R.H. Dinel Investment Counsel Inc. now owns 23,050 shares of the medical research company’s stock valued at $7,202,000 after buying an additional 1,350 shares during the period. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Leerink Partners decreased their price target on shares of Amgen from $349.00 to $302.00 in a report on Wednesday, November 27th. UBS Group decreased their price target on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. TD Cowen boosted their price target on shares of Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a report on Monday, October 21st. Truist Financial downgraded shares of Amgen from a “buy” rating to a “hold” rating and boosted their price target for the company from $320.00 to $333.00 in a report on Monday, October 14th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $405.00 price target on shares of Amgen in a report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $323.05.

Amgen Stock Performance

Amgen stock opened at $278.26 on Thursday. Amgen Inc. has a 12-month low of $257.80 and a 12-month high of $346.85. 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 business’s 50-day moving average price is $308.48 and its two-hundred day moving average price is $316.40. The stock has a market cap of $149.57 billion, a PE ratio of 35.63, a P/E/G ratio of 3.08 and a beta of 0.55.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $8.50 billion. During the same quarter in the previous year, the company posted $4.96 EPS. Amgen’s quarterly revenue was up 23.2% compared to the same quarter last year. As a group, analysts expect that Amgen Inc. will post 19.51 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 18th will be issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s payout ratio is 115.24%.

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.