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

Oppenheimer Asset Management Inc. decreased its stake in Amgen Inc. (NASDAQ:AMGN) by 12.9% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 5,099 shares of the medical research company’s stock after selling 758 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Amgen were worth $1,643,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of AMGN. Capital Performance Advisors LLP purchased a new position in Amgen in the 3rd quarter worth approximately $25,000. Strategic Financial Concepts LLC acquired a new position in shares of Amgen during the second quarter worth $26,000. Hershey Financial Advisers LLC purchased a new position in shares of Amgen in the second quarter valued at $30,000. nVerses Capital LLC acquired a new stake in Amgen during the 2nd quarter valued at $31,000. Finally, Bbjs Financial Advisors LLC purchased a new stake in Amgen during the 2nd quarter worth $33,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AMGN. Citigroup started coverage on shares of Amgen in a research report on Thursday. They issued a “neutral” rating and a $335.00 price objective for the company. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $305.00 price target (down previously from $310.00) on shares of Amgen in a report on Wednesday, August 7th. Truist Financial downgraded Amgen from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $320.00 to $333.00 in a report on Monday, October 14th. Sanford C. Bernstein started coverage on Amgen in a research note on Thursday, October 17th. They set an “outperform” rating and a $380.00 target price for the company. Finally, Barclays raised their price target on shares of Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. One investment analyst has rated the stock with a sell rating, thirteen have given 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, Amgen presently has a consensus rating of “Moderate Buy” and an average target price of $333.57.

Amgen Stock Performance

Shares of NASDAQ AMGN opened at $283.61 on Monday. The stock has a market capitalization of $152.45 billion, a P/E ratio of 36.31, a P/E/G ratio of 2.53 and a beta of 0.60. The firm’s 50-day moving average price is $320.85 and its two-hundred day moving average price is $318.65. Amgen Inc. has a 52-week low of $260.52 and a 52-week 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.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The business had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.50 billion. During the same quarter in the previous year, the firm posted $4.96 EPS. The business’s revenue for the quarter was up 23.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Amgen Inc. will post 19.51 earnings per share for the current year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 18th will be paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s payout ratio is 115.24%.

About Amgen

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.