Amgen Inc. (NASDAQ:AMGN) Shares Sold by Northwest & Ethical Investments L.P.

Northwest & Ethical Investments L.P. decreased its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 15.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,114 shares of the medical research company’s stock after selling 3,143 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Amgen were worth $5,514,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Meyer Handelman Co. increased its holdings in shares of Amgen by 7.2% in the second quarter. Meyer Handelman Co. now owns 129,831 shares of the medical research company’s stock valued at $40,566,000 after purchasing an additional 8,700 shares during the period. First Horizon Advisors Inc. grew its position in Amgen by 3.2% in the 3rd quarter. First Horizon Advisors Inc. now owns 60,769 shares of the medical research company’s stock valued at $19,581,000 after buying an additional 1,872 shares during the last quarter. Swiss National Bank increased its stake in Amgen by 0.3% in the 3rd quarter. Swiss National Bank now owns 1,592,233 shares of the medical research company’s stock valued at $513,033,000 after buying an additional 5,500 shares during the period. Napa Wealth Management purchased a new position in Amgen during the 3rd quarter worth $1,104,000. Finally, Summit Trail Advisors LLC boosted its holdings in shares of Amgen by 40.1% in the third quarter. Summit Trail Advisors LLC now owns 7,552 shares of the medical research company’s stock valued at $2,433,000 after acquiring an additional 2,163 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

NASDAQ:AMGN opened at $280.07 on Friday. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. The firm has a market cap of $150.55 billion, a PE ratio of 35.86, a P/E/G ratio of 2.62 and a beta of 0.60. The firm has a 50 day simple moving average of $312.46 and a 200-day simple moving average of $317.31. Amgen Inc. has a 1-year low of $257.80 and a 1-year high of $346.85.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, beating the consensus estimate of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The company had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.50 billion. During the same period in the previous year, the firm posted $4.96 EPS. Amgen’s revenue was up 23.2% on a year-over-year basis. On average, equities analysts expect that Amgen Inc. will post 19.52 EPS for the current year.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 18th will be paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s payout ratio is 115.24%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on AMGN shares. Royal Bank of Canada cut their price target on shares of Amgen from $360.00 to $330.00 and set an “outperform” rating for the company in a report on Wednesday. Oppenheimer reissued an “outperform” rating and issued a $380.00 price target on shares of Amgen in a report on Wednesday, August 7th. Truist Financial downgraded Amgen from a “buy” rating to a “hold” rating and lifted their price target for the company from $320.00 to $333.00 in a research note on Monday, October 14th. Barclays increased their price objective on Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Finally, Wolfe Research assumed coverage on shares of Amgen in a research report on Friday, November 15th. They set a “peer perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Amgen has a consensus rating of “Hold” and a consensus target price of $323.05.

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.