BBR Partners LLC Sells 56 Shares of Amgen Inc. (NASDAQ:AMGN)

BBR Partners LLC trimmed its position in shares of Amgen Inc. (NASDAQ:AMGN) by 0.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,292 shares of the medical research company’s stock after selling 56 shares during the quarter. BBR Partners LLC’s holdings in Amgen were worth $2,027,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Capital Performance Advisors LLP purchased a new position in Amgen in the third quarter worth $25,000. Strategic Financial Concepts LLC purchased a new stake in Amgen in the second quarter valued at about $26,000. Hershey Financial Advisers LLC acquired a new stake in Amgen in the second quarter worth about $30,000. nVerses Capital LLC purchased a new stake in shares of Amgen during the second quarter worth about $31,000. Finally, Bbjs Financial Advisors LLC acquired a new position in shares of Amgen during the second quarter valued at about $33,000. 76.50% of the stock is currently owned by institutional investors.

Amgen Stock Performance

NASDAQ:AMGN opened at $280.07 on Thursday. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. The stock has a market capitalization of $150.55 billion, a PE ratio of 35.86, a P/E/G ratio of 2.62 and a beta of 0.60. Amgen Inc. has a fifty-two week low of $257.80 and a fifty-two week high of $346.85. The company has a fifty day moving average of $313.58 and a two-hundred day moving average of $317.57.

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

Amgen Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Wells Fargo & Company cut shares of Amgen from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $320.00 to $335.00 in a research note on Wednesday, August 7th. Oppenheimer reissued an “outperform” rating and set a $380.00 price objective on shares of Amgen in a report on Wednesday, August 7th. Robert W. Baird restated an “underperform” rating and issued a $215.00 target price on shares of Amgen in a research note on Wednesday, September 25th. Truist Financial downgraded Amgen from a “buy” rating to a “hold” rating and boosted their price target for the company from $320.00 to $333.00 in a research note on Monday, October 14th. Finally, Redburn Partners reduced their price objective on Amgen from $200.00 to $195.00 in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Amgen currently has a consensus rating of “Moderate Buy” and an average target price of $323.05.

Amgen Company 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.