Cullinan Associates Inc. Has $15.19 Million Holdings in Amgen Inc. (NASDAQ:AMGN)

Cullinan Associates Inc. decreased its position in Amgen Inc. (NASDAQ:AMGN) by 6.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 47,903 shares of the medical research company’s stock after selling 3,111 shares during the quarter. Cullinan Associates Inc.’s holdings in Amgen were worth $15,192,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Amgen by 6.2% during the 1st quarter. Vanguard Group Inc. now owns 52,088,210 shares of the medical research company’s stock worth $14,809,720,000 after buying an additional 3,045,657 shares in the last quarter. Capital International Investors raised its holdings in Amgen by 547.8% during the first quarter. Capital International Investors now owns 7,005,269 shares of the medical research company’s stock worth $1,991,738,000 after acquiring an additional 5,923,915 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Amgen by 6.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,701,631 shares of the medical research company’s stock valued at $844,137,000 after purchasing an additional 162,223 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of Amgen by 6,812.4% during the 3rd quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock worth $8,130,610,000 after purchasing an additional 2,486,882 shares during the last quarter. Finally, Janus Henderson Group PLC raised its stake in shares of Amgen by 137.1% during the 1st quarter. Janus Henderson Group PLC now owns 2,381,133 shares of the medical research company’s stock worth $676,984,000 after purchasing an additional 1,377,007 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors.

Amgen Price Performance

Shares of NASDAQ AMGN traded up $2.85 during midday trading on Friday, reaching $318.54. 106,534 shares of the company were exchanged, compared to its average volume of 2,420,729. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 9.64. Amgen Inc. has a one year low of $249.70 and a one year high of $346.85. The stock has a market cap of $170.88 billion, a P/E ratio of 45.10, a PEG ratio of 2.86 and a beta of 0.61. The stock’s 50-day moving average price is $325.77 and its 200-day moving average price is $313.12.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share for the quarter, missing the consensus estimate of $5.01 by ($0.04). Amgen had a return on equity of 161.72% and a net margin of 10.12%. The firm had revenue of $8.39 billion for the quarter, compared to the consensus estimate of $8.35 billion. During the same quarter last year, the firm posted $5.00 earnings per share. The business’s revenue for the quarter was up 20.1% on a year-over-year basis. On average, sell-side analysts anticipate that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s dividend payout ratio is presently 128.57%.

Analyst Upgrades and Downgrades

AMGN has been the topic of several analyst reports. Wells Fargo & Company lowered shares of Amgen from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $320.00 to $335.00 in a research report on Wednesday, August 7th. Truist Financial downgraded Amgen from a “buy” rating to a “hold” rating and lifted their target price for the stock from $320.00 to $333.00 in a research note on Monday, October 14th. Dbs Bank raised Amgen to a “strong-buy” rating in a report on Monday, September 16th. Bank of America upped their price objective on shares of Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $305.00 target price (down previously from $310.00) on shares of Amgen in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Amgen presently has a consensus rating of “Moderate Buy” and a consensus target price of $332.55.

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.