Gulf International Bank UK Ltd Cuts Position in Amgen Inc. (NASDAQ:AMGN)

Gulf International Bank UK Ltd lowered its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 4.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 42,322 shares of the medical research company’s stock after selling 1,774 shares during the period. Gulf International Bank UK Ltd’s holdings in Amgen were worth $13,636,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Amgen by 6.2% in the 1st quarter. Vanguard Group Inc. now owns 52,088,210 shares of the medical research company’s stock valued at $14,809,720,000 after purchasing an additional 3,045,657 shares in the last quarter. Capital International Investors increased its position in shares of Amgen by 547.8% in the first quarter. Capital International Investors now owns 7,005,269 shares of the medical research company’s stock valued at $1,991,738,000 after buying an additional 5,923,915 shares in the last quarter. Pathway Financial Advisers LLC raised its stake in shares of Amgen by 33,125.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock worth $1,437,115,000 after buying an additional 4,446,757 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Amgen by 6.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,701,631 shares of the medical research company’s stock worth $844,137,000 after buying an additional 162,223 shares in the last quarter. Finally, International Assets Investment Management LLC grew its stake in Amgen by 6,812.4% in the 3rd quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock valued at $8,130,610,000 after acquiring an additional 2,486,882 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Price Performance

Shares of NASDAQ AMGN opened at $316.91 on Tuesday. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.89. Amgen Inc. has a 1-year low of $260.52 and a 1-year high of $346.85. The company has a market capitalization of $170.29 billion, a price-to-earnings ratio of 40.58, a PEG ratio of 2.89 and a beta of 0.60. The business has a 50-day moving average of $324.27 and a 200-day moving average of $316.29.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. The company had revenue of $8.50 billion for 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 business’s quarterly revenue was up 23.2% on a year-over-year basis. During the same quarter last year, the firm posted $4.96 earnings per share. On average, equities analysts anticipate that Amgen Inc. will post 19.45 EPS for the current fiscal year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s payout ratio is 115.24%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Morgan Stanley cut their target price on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a research report on Thursday, July 11th. Truist Financial lowered Amgen from a “buy” rating to a “hold” rating and upped their target price for the company from $320.00 to $333.00 in a research note on Monday, October 14th. Sanford C. Bernstein began coverage on Amgen in a report on Thursday, October 17th. They issued an “outperform” rating and a $380.00 price target for the company. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $305.00 price objective (down previously from $310.00) on shares of Amgen in a research note on Wednesday, August 7th. Finally, Oppenheimer reissued an “outperform” rating and issued a $380.00 target price on shares of Amgen in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Amgen has an average rating of “Moderate Buy” and a consensus price target of $333.50.

About Amgen

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.