Weaver Capital Management LLC Decreases Position in Amgen Inc. (NASDAQ:AMGN)

Weaver Capital Management LLC reduced its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 7.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,567 shares of the medical research company’s stock after selling 518 shares during the period. Weaver Capital Management LLC’s holdings in Amgen were worth $2,116,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AMGN. Segment Wealth Management LLC raised its holdings in shares of Amgen by 5.6% in the third quarter. Segment Wealth Management LLC now owns 938 shares of the medical research company’s stock worth $302,000 after buying an additional 50 shares during the last quarter. Tempus Wealth Planning LLC raised its stake in Amgen by 4.3% in the 3rd quarter. Tempus Wealth Planning LLC now owns 5,518 shares of the medical research company’s stock worth $1,778,000 after acquiring an additional 228 shares during the last quarter. Stanley Laman Group Ltd. lifted its position in Amgen by 2.2% during the 3rd quarter. Stanley Laman Group Ltd. now owns 10,973 shares of the medical research company’s stock worth $3,536,000 after acquiring an additional 237 shares during the period. Waldron Private Wealth LLC grew its stake in Amgen by 0.6% during the 3rd quarter. Waldron Private Wealth LLC now owns 17,343 shares of the medical research company’s stock valued at $5,588,000 after purchasing an additional 95 shares during the last quarter. Finally, Leo Wealth LLC increased its holdings in shares of Amgen by 6.1% in the third quarter. Leo Wealth LLC now owns 4,472 shares of the medical research company’s stock valued at $1,441,000 after purchasing an additional 257 shares during the period. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Stock Up 0.9 %

Shares of AMGN opened at $319.66 on Wednesday. The stock has a 50 day moving average price of $325.93 and a 200 day moving average price of $313.11. Amgen Inc. has a one year low of $249.70 and a one year high of $346.85. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.89 and a current ratio of 1.26. The stock has a market capitalization of $171.48 billion, a price-to-earnings ratio of 45.67, a PEG ratio of 2.86 and a beta of 0.61.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). The business had revenue of $8.39 billion for the quarter, compared to analysts’ expectations of $8.35 billion. Amgen had a return on equity of 161.72% and a net margin of 10.12%. Amgen’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same period in the previous year, the company earned $5.00 EPS. Equities research analysts forecast that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.82%. The ex-dividend date was Friday, August 16th. Amgen’s dividend payout ratio is currently 128.57%.

Analyst Upgrades and Downgrades

AMGN has been the subject of a number of research reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $362.00 target price on shares of Amgen in a report on Thursday, September 26th. Truist Financial downgraded shares of Amgen from a “buy” rating to a “hold” rating and upped their price objective for the company from $320.00 to $333.00 in a report on Monday, October 14th. Argus raised their target price on shares of Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Cantor Fitzgerald restated an “overweight” rating and set a $405.00 target price on shares of Amgen in a research report on Tuesday. Finally, Wells Fargo & Company lowered Amgen from an “overweight” rating to an “equal weight” rating and lifted their price objective for the company from $320.00 to $335.00 in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $332.55.

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.