Oppenheimer & Co. Inc. Has $39.49 Million Holdings in Amgen Inc. (NASDAQ:AMGN)

Oppenheimer & Co. Inc. reduced its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 0.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 122,552 shares of the medical research company’s stock after selling 1,086 shares during the period. Amgen accounts for approximately 0.6% of Oppenheimer & Co. Inc.’s investment portfolio, making the stock its 19th biggest position. Oppenheimer & Co. Inc.’s holdings in Amgen were worth $39,487,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AMGN. Capital Performance Advisors LLP bought a new position in Amgen during the third quarter worth $25,000. Strategic Financial Concepts LLC bought a new stake in shares of Amgen during the 2nd quarter valued at about $26,000. Hershey Financial Advisers LLC acquired a new stake in Amgen during the second quarter worth approximately $30,000. nVerses Capital LLC acquired a new stake in Amgen during the second quarter worth approximately $31,000. Finally, Bbjs Financial Advisors LLC acquired a new position in Amgen in the second quarter valued at approximately $33,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AMGN has been the topic of several research analyst reports. Barclays increased their target price on shares of Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Jefferies Financial Group restated a “buy” rating and issued a $380.00 target price on shares of Amgen in a research note on Tuesday. Truist Financial downgraded Amgen from a “buy” rating to a “hold” rating and upped their price target for the stock from $320.00 to $333.00 in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $305.00 price objective (down previously from $310.00) on shares of Amgen in a report on Wednesday, August 7th. Finally, Wells Fargo & Company downgraded shares of Amgen from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $320.00 to $335.00 in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Amgen presently has an average rating of “Moderate Buy” and a consensus price target of $333.50.

Amgen Price Performance

AMGN traded up $5.86 during trading on Wednesday, reaching $304.70. 648,794 shares of the company were exchanged, compared to its average volume of 2,421,933. 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 company has a market cap of $163.79 billion, a price-to-earnings ratio of 38.26, a P/E/G ratio of 2.87 and a beta of 0.60. Amgen Inc. has a 12-month low of $260.52 and a 12-month high of $346.85. The company’s 50-day moving average is $322.74 and its two-hundred day moving average is $318.27.

Amgen (NASDAQ:AMGN) last posted its earnings results 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 net margin of 13.00% and a return on equity of 168.35%. 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 prior year, the firm posted $4.96 EPS. Amgen’s revenue was up 23.2% on a year-over-year basis. Research analysts forecast that Amgen Inc. will post 19.51 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.95%. The ex-dividend date 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.