Rakuten Securities Inc. Trims Stock Position in Amgen Inc. (NASDAQ:AMGN)

by · The Markets Daily

Rakuten Securities Inc. reduced its stake in shares of Amgen Inc. (NASDAQ:AMGN – Free Report) by 54.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 126 shares of the medical research company’s stock after selling 150 shares during the quarter. Rakuten Securities Inc.’s holdings in Amgen were worth $41,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new stake in shares of Amgen during the third quarter valued at $25,000. Strategic Financial Concepts LLC purchased a new position in Amgen in the 2nd quarter valued at about $26,000. Hershey Financial Advisers LLC acquired a new stake in shares of Amgen during the 2nd 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 in the second quarter valued at approximately $33,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Trading Down 7.1 %

NASDAQ:AMGN opened at $298.84 on Wednesday. Amgen Inc. has a 12 month low of $260.52 and a 12 month high of $346.85. The business’s 50-day moving average is $323.37 and its two-hundred day moving average is $318.07. 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 capitalization of $160.64 billion, a PE ratio of 38.26, a price-to-earnings-growth ratio of 2.90 and a beta of 0.60.

Amgen (NASDAQ:AMGN – Get Free Report) last announced its earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, beating the consensus estimate of $5.11 by $0.47. The business had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The company’s revenue was up 23.2% on a year-over-year basis. During the same period last year, the business posted $4.96 EPS. Research analysts predict that Amgen Inc. will post 19.51 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 issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s payout ratio is 115.24%.

Wall Street Analyst Weigh In

AMGN has been the topic of a number of analyst reports. Sanford C. Bernstein started coverage on shares of Amgen in a research report on Thursday, October 17th. They set an “outperform” rating and a $380.00 target price on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $405.00 price objective on shares of Amgen in a research report on Tuesday, October 22nd. Truist Financial downgraded Amgen from a “buy” rating to a “hold” rating and increased their target price for the stock from $320.00 to $333.00 in a research report on Monday, October 14th. UBS Group lowered their price target on Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Finally, William Blair reiterated an “outperform” rating on shares of Amgen in a report on Tuesday. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $333.50.

Get Our Latest Stock Analysis on Amgen

Amgen 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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