Boston Family Office LLC Cuts Stake in Amgen Inc. (NASDAQ:AMGN)

Boston Family Office LLC lessened its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 0.6% during the third quarter, HoldingsChannel reports. The firm owned 8,364 shares of the medical research company’s stock after selling 52 shares during the period. Boston Family Office LLC’s holdings in Amgen were worth $2,695,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its stake in shares of Amgen by 2.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 10,532,629 shares of the medical research company’s stock valued at $3,393,718,000 after purchasing an additional 251,876 shares during the period. Pathway Financial Advisers LLC grew its holdings in 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 purchasing an additional 4,446,757 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Amgen by 6.4% during 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 during the period. International Assets Investment Management LLC lifted its holdings 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 worth $8,130,610,000 after buying an additional 2,486,882 shares in the last quarter. Finally, Boston Partners boosted its position in Amgen by 27.4% in the 1st quarter. Boston Partners now owns 2,237,334 shares of the medical research company’s stock valued at $635,179,000 after buying an additional 481,214 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

Shares of Amgen stock opened at $294.53 on Monday. Amgen Inc. has a 12 month low of $260.68 and a 12 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 stock has a market cap of $158.32 billion, a PE ratio of 37.71, a price-to-earnings-growth ratio of 2.63 and a beta of 0.60. The business has a fifty day simple moving average of $316.52 and a 200-day simple moving average of $318.18.

Amgen (NASDAQ:AMGN) last released its 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. The company had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The business’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.96 EPS. On average, sell-side analysts anticipate that Amgen Inc. will post 19.52 EPS for the current fiscal year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 3.06%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s dividend payout ratio is currently 115.24%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. William Blair reaffirmed an “outperform” rating on shares of Amgen in a research report on Tuesday, November 12th. 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 report on Monday, October 14th. Bank of America raised their price target on shares of Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Wells Fargo & Company cut shares of Amgen from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $320.00 to $335.00 in a report on Wednesday, August 7th. Finally, Sanford C. Bernstein began coverage on shares of Amgen in a research note on Thursday, October 17th. They set an “outperform” rating and a $380.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $333.57.

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.