Thrivent Financial for Lutherans Sells 136,220 Shares of Amgen Inc. (NASDAQ:AMGN)

Thrivent Financial for Lutherans lessened its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 21.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 489,085 shares of the medical research company’s stock after selling 136,220 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Amgen were worth $157,588,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. M&G Plc purchased a new stake in shares of Amgen in the 1st quarter worth about $7,633,000. Patten & Patten Inc. TN raised its stake in Amgen by 4.6% in the first quarter. Patten & Patten Inc. TN now owns 3,104 shares of the medical research company’s stock worth $883,000 after buying an additional 136 shares in the last quarter. Edgestream Partners L.P. lifted its holdings in Amgen by 218.0% in the first quarter. Edgestream Partners L.P. now owns 12,434 shares of the medical research company’s stock worth $3,535,000 after buying an additional 8,524 shares during the period. Hillsdale Investment Management Inc. boosted its position in Amgen by 44.3% during the 1st quarter. Hillsdale Investment Management Inc. now owns 1,400 shares of the medical research company’s stock valued at $398,000 after acquiring an additional 430 shares in the last quarter. Finally, Trustmark National Bank Trust Department grew its holdings in shares of Amgen by 6.5% during the 1st quarter. Trustmark National Bank Trust Department now owns 31,204 shares of the medical research company’s stock worth $8,872,000 after acquiring an additional 1,909 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Cantor Fitzgerald restated an “overweight” rating and set a $405.00 price target on shares of Amgen in a research report on Tuesday, October 22nd. Truist Financial cut 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 report on Monday, October 14th. Wolfe Research started coverage on shares of Amgen in a research report on Friday. They set a “peer perform” rating for the company. Bank of America boosted their price objective on shares of Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Finally, William Blair reaffirmed an “outperform” rating on shares of Amgen in a research note on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $333.57.

Amgen Stock Down 4.2 %

AMGN opened at $283.61 on Friday. Amgen Inc. has a twelve month low of $260.52 and a twelve 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 firm has a 50 day moving average price of $320.85 and a 200-day moving average price of $318.36. The stock has a market capitalization of $152.45 billion, a price-to-earnings ratio of 36.31, a PEG ratio of 2.53 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last announced its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. The business had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The company’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same period in the previous year, the business earned $4.96 EPS. Equities research analysts forecast that Amgen Inc. will post 19.51 earnings per share for the current year.

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 18th will be given a $2.25 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $9.00 annualized dividend and a yield of 3.17%. Amgen’s payout ratio is 115.24%.

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.