Brown Brothers Harriman & Co. Has $6.57 Million Position in Amgen Inc. (NASDAQ:AMGN)

Brown Brothers Harriman & Co. lessened its holdings in Amgen Inc. (NASDAQ:AMGN) by 0.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,393 shares of the medical research company’s stock after selling 59 shares during the period. Brown Brothers Harriman & Co.’s holdings in Amgen were worth $6,571,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of AMGN. Pathway Financial Advisers LLC grew its holdings 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 valued at $1,437,115,000 after acquiring an additional 4,446,757 shares in the last quarter. International Assets Investment Management LLC grew its stake in Amgen by 6,812.4% in the third 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 purchasing an additional 2,486,882 shares in the last quarter. Assenagon Asset Management S.A. increased its position in Amgen by 561.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,539,733 shares of the medical research company’s stock worth $496,117,000 after purchasing an additional 1,306,982 shares during the last quarter. Granite Bay Wealth Management LLC raised its stake in shares of Amgen by 9,058.1% during the 2nd quarter. Granite Bay Wealth Management LLC now owns 756,460 shares of the medical research company’s stock worth $223,897,000 after purchasing an additional 748,200 shares in the last quarter. Finally, Swedbank AB acquired a new stake in shares of Amgen during the 1st quarter valued at about $151,977,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Sanford C. Bernstein started coverage on shares of Amgen in a research report on Thursday, October 17th. They set an “outperform” rating and a $380.00 price objective on the stock. Dbs Bank upgraded shares of Amgen to a “strong-buy” rating in a report on Monday, September 16th. William Blair reaffirmed an “outperform” rating on shares of Amgen in a research note on Tuesday, November 12th. TD Cowen increased their target price on shares of Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Finally, UBS Group cut their target price on Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, thirteen have assigned 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.com, Amgen has a consensus rating of “Moderate Buy” and a consensus target price of $333.57.

Amgen Stock Performance

Shares of NASDAQ AMGN opened at $294.00 on Tuesday. Amgen Inc. has a one year low of $260.68 and a one year high of $346.85. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. The business has a fifty day simple moving average of $315.69 and a 200 day simple moving average of $318.05. The firm has a market capitalization of $158.03 billion, a price-to-earnings ratio of 37.64, a PEG ratio of 2.63 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping analysts’ consensus estimates of $5.11 by $0.47. The company had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The firm’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same period last year, the firm earned $4.96 EPS. Sell-side analysts expect that Amgen Inc. will post 19.52 EPS for the current year.

Amgen Dividend Announcement

The business 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. The ex-dividend date of this dividend is Monday, November 18th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.06%. Amgen’s payout ratio is presently 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.