Amgen Inc. (NASDAQ:AMGN) Shares Sold by Congress Asset Management Co.

by · The Cerbat Gem

Congress Asset Management Co. reduced its stake in shares of Amgen Inc. (NASDAQ:AMGN – Free Report) by 0.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 53,541 shares of the medical research company’s stock after selling 427 shares during the period. Congress Asset Management Co.’s holdings in Amgen were worth $17,251,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Keynote Financial Services LLC boosted its holdings in shares of Amgen by 0.6% in the 2nd quarter. Keynote Financial Services LLC now owns 4,898 shares of the medical research company’s stock valued at $1,530,000 after purchasing an additional 30 shares during the last quarter. Ascent Group LLC boosted its holdings in shares of Amgen by 0.3% in the 2nd quarter. Ascent Group LLC now owns 10,949 shares of the medical research company’s stock valued at $3,421,000 after purchasing an additional 31 shares during the last quarter. RFP Financial Group LLC boosted its holdings in shares of Amgen by 17.1% in the 1st quarter. RFP Financial Group LLC now owns 219 shares of the medical research company’s stock valued at $62,000 after purchasing an additional 32 shares during the last quarter. Hofer & Associates. Inc boosted its holdings in shares of Amgen by 0.5% in the 2nd quarter. Hofer & Associates. Inc now owns 6,477 shares of the medical research company’s stock valued at $2,024,000 after purchasing an additional 32 shares during the last quarter. Finally, Cadinha & Co. LLC boosted its holdings in shares of Amgen by 0.6% in the 3rd quarter. Cadinha & Co. LLC now owns 5,209 shares of the medical research company’s stock valued at $1,678,000 after purchasing an additional 32 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Price Performance

AMGN opened at $320.16 on Friday. The company has a 50-day moving average of $324.66 and a 200-day moving average of $314.82. The company has a market capitalization of $172.03 billion, a P/E ratio of 40.99, a PEG ratio of 2.86 and a beta of 0.61. Amgen Inc. has a 1-year low of $249.70 and a 1-year high of $346.85. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.89 and a current ratio of 1.26.

Amgen (NASDAQ:AMGN – Get Free Report) last released its 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. 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 10.12% and a return on equity of 161.72%. The company’s revenue was up 23.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.96 EPS. Equities analysts expect that Amgen Inc. will post 19.49 EPS for the current fiscal year.

Amgen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be paid a dividend of $2.25 per share. The ex-dividend date is Monday, November 18th. This represents a $9.00 annualized dividend and a yield of 2.81%. Amgen’s dividend payout ratio (DPR) is 115.24%.

Analyst Ratings Changes

A number of equities analysts have weighed in on AMGN shares. Truist Financial lowered shares of 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 report on Monday, October 14th. Dbs Bank raised shares of Amgen to a “strong-buy” rating in a research note on Monday, September 16th. Oppenheimer reissued an “outperform” rating and issued a $380.00 target price on shares of Amgen in a research note on Wednesday, August 7th. UBS Group cut their target price on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a research note on Thursday. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued 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 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, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $333.50.

View Our Latest Research Report on AMGN

Amgen Company Profile

(Free Report)

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.

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