1,552 Amgen Inc. $AMGN Shares Sold by Tamar Securities LLC

Tamar Securities LLC lowered its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 2.3% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 66,443 shares of the medical research company’s stock after selling 1,552 shares during the period. Amgen makes up 2.5% of Tamar Securities LLC’s investment portfolio, making the stock its 15th biggest holding. Tamar Securities LLC’s holdings in Amgen were worth $28,006,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. BlackRock Inc. raised its stake in shares of Amgen by 4.8% during the second quarter. BlackRock Inc. now owns 49,362,016 shares of the medical research company’s stock worth $17,874,974,000 after buying an additional 2,261,544 shares during the last quarter. State Street Corp raised its position in Amgen by 38.2% during the second quarter. State Street Corp now owns 42,205,243 shares of the medical research company’s stock worth $15,283,363,000 after acquiring an additional 11,656,755 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Amgen by 12.7% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,390,910 shares of the medical research company’s stock worth $1,952,156,000 after buying an additional 605,928 shares during the last quarter. Bank of America Corp DE acquired a new position in Amgen in the 2nd quarter valued at $1,831,903,000. Finally, Amundi grew its position in Amgen by 15.2% in the second quarter. Amundi now owns 3,890,189 shares of the medical research company’s stock valued at $1,408,715,000 after acquiring an additional 512,883 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Robert W. Baird raised their price target on shares of Amgen from $215.00 to $230.00 and gave the company an “underperform” rating in a research report on Wednesday, August 5th. Cantor Fitzgerald raised their price target on shares of Amgen from $440.00 to $465.00 and gave the company a “neutral” rating in a report on Wednesday. Morgan Stanley raised their price objective on shares of Amgen from $359.00 to $410.00 and gave the company an “equal weight” rating in a research report on Wednesday. TD Cowen increased their target price on shares of Amgen from $452.00 to $531.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Scotiabank upped their price target on shares of Amgen from $500.00 to $530.00 and gave the stock a “sector outperform” rating in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eighteen have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $420.80.

Amgen News Roundup

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Amgen reported quarterly earnings and revenue above expectations, with revenue up 8.5% year over year. Its earnings-call discussion also emphasized growth and pipeline momentum, supporting the case for continued expansion. Amgen Earnings Call Highlights Growth, Pipeline Momentum
• Positive Sentiment: A large real-world study found Repatha lowered heart-attack risk by 20% versus ezetimibe in patients with heart disease. The findings could strengthen the drug’s clinical and commercial position. Repatha real-world study
• Positive Sentiment: Scotiabank reiterated a Buy view and set a $530 price target; UBS also maintains a Buy rating with a $530 target. Separately, ETFs bought a net $79.8 million of AMGN shares in Wednesday’s session. Scotiabank price target ETF holdings
• Neutral Sentiment: Analyst opinions remain divided: Leerink Partners and Guggenheim have Hold/neutral ratings, while Scotiabank and UBS are more optimistic. The differing views suggest debate about how much of Amgen’s recent gains are already reflected in its valuation. Leerink Partners rating
• Negative Sentiment: Freedom Broker downgraded Amgen to Hold, adding to the cautious analyst commentary and potentially tempering enthusiasm after the recent rally. Freedom Broker downgrade

Amgen Trading Up 0.0%

AMGN stock traded up $0.14 during mid-day trading on Friday, hitting $460.42. 2,579,312 shares of the company were exchanged, compared to its average volume of 2,619,150. The firm has a market capitalization of $248.92 billion, a P/E ratio of 26.71, a PEG ratio of 3.41 and a beta of 0.43. The company has a quick ratio of 1.13, a current ratio of 1.37 and a debt-to-equity ratio of 4.44. Amgen Inc. has a 12-month low of $312.39 and a 12-month high of $483.99. The business has a fifty day simple moving average of $422.43 and a 200-day simple moving average of $378.19.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, November 3rd. The medical research company reported $6.45 earnings per share for the quarter, beating analysts’ consensus estimates of $5.79 by $0.66. Amgen had a net margin of 22.95% and a return on equity of 124.14%. The firm had revenue of $10.37 billion during the quarter, compared to analysts’ expectations of $10.07 billion. During the same period in the previous year, the company earned $5.64 earnings per share. Amgen’s quarterly revenue was up 8.5% compared to the same quarter last year. On average, equities research analysts predict that Amgen Inc. will post 23.33 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 11th. Shareholders of record on Friday, November 20th will be paid a dividend of $2.52 per share. The ex-dividend date of this dividend is Friday, November 20th. This represents a $10.08 dividend on an annualized basis and a yield of 2.2%. Amgen’s dividend payout ratio (DPR) is currently 58.47%.

Insider Activity at Amgen

In other news, SVP Rachna Khosla sold 2,000 shares of the company’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $412.57, for a total value of $825,140.00. Following the completion of the sale, the senior vice president owned 6,404 shares of the company’s stock, valued at $2,642,098.28. This represents a 23.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.85% of the stock is currently owned by company insiders.

About Amgen

Amgen is a biotechnology company that discovers, develops, manufactures and commercializes medicines for serious illnesses. Its research and product portfolio span areas including cancer, cardiovascular disease, inflammation, bone health and rare diseases.

The company’s medicines include Enbrel, Prolia, Xgeva and Repatha. Amgen serves patients and healthcare providers in the United States and markets its products internationally.

Founded in 1980 and headquartered in Thousand Oaks, California, Amgen is led by Robert A.