Amgen Inc. (NASDAQ:AMGN) Shares Sold by Moran Wealth Management LLC

Moran Wealth Management LLC reduced its holdings in Amgen Inc. (NASDAQ:AMGN) by 2.9% during the 3rd quarter, Holdings Channel reports. The firm owned 26,731 shares of the medical research company’s stock after selling 789 shares during the quarter. Moran Wealth Management LLC’s holdings in Amgen were worth $8,613,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. CANADA LIFE ASSURANCE Co lifted its position in Amgen by 2.7% during the first quarter. CANADA LIFE ASSURANCE Co now owns 49,931 shares of the medical research company’s stock worth $14,241,000 after buying an additional 1,311 shares in the last quarter. EP Wealth Advisors LLC lifted its position in Amgen by 11.0% during the first quarter. EP Wealth Advisors LLC now owns 23,769 shares of the medical research company’s stock worth $6,758,000 after buying an additional 2,353 shares in the last quarter. Cadence Bank lifted its position in Amgen by 13.4% during the first quarter. Cadence Bank now owns 5,774 shares of the medical research company’s stock worth $1,642,000 after buying an additional 684 shares in the last quarter. Capital Group Private Client Services Inc. purchased a new position in Amgen during the first quarter worth approximately $18,430,000. Finally, JT Stratford LLC purchased a new position in Amgen during the first quarter worth approximately $576,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Trading Up 2.8 %

NASDAQ:AMGN opened at $287.87 on Thursday. The stock has a 50-day simple moving average of $318.08 and a 200-day simple moving average of $318.22. The stock has a market cap of $154.74 billion, a P/E ratio of 36.86, a P/E/G ratio of 2.53 and a beta of 0.60. Amgen Inc. has a 1 year low of $260.52 and a 1 year high of $346.85. 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 (NASDAQ:AMGN) last released 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. The business had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The business’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.96 EPS. As a group, analysts anticipate that Amgen Inc. will post 19.51 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be issued a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 3.13%. The ex-dividend date is Monday, November 18th. Amgen’s payout ratio is currently 115.24%.

Analyst Ratings Changes

A number of equities analysts recently commented on AMGN shares. UBS Group reduced their price objective on Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Citigroup began coverage on Amgen in a research report on Thursday, November 14th. They issued a “neutral” rating and a $335.00 target price on the stock. Truist Financial downgraded Amgen from a “buy” rating to a “hold” rating and lifted their target price for the company from $320.00 to $333.00 in a research report on Monday, October 14th. Royal Bank of Canada restated an “outperform” rating and issued a $362.00 target price on shares of Amgen in a research report on Thursday, September 26th. Finally, Dbs Bank upgraded Amgen to a “strong-buy” rating in a research report on Monday, September 16th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $333.57.

Amgen Company 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.