Commonwealth Equity Services LLC Sells 16,204 Shares of Amgen Inc. $AMGN

Commonwealth Equity Services LLC decreased its position in Amgen Inc. (NASDAQ:AMGN) by 5.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 293,274 shares of the medical research company’s stock after selling 16,204 shares during the period. Commonwealth Equity Services LLC’s holdings in Amgen were worth $123,618,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in AMGN. Wellington Altus USA Inc. increased its holdings in shares of Amgen by 72.3% in the second quarter. Wellington Altus USA Inc. now owns 81 shares of the medical research company’s stock worth $28,000 after acquiring an additional 34 shares in the last quarter. Nvwm LLC grew its position in shares of Amgen by 412.5% in the 3rd quarter. Nvwm LLC now owns 82 shares of the medical research company’s stock valued at $35,000 after purchasing an additional 66 shares during the period. PFS Partners LLC increased its stake in Amgen by 95.5% during the 3rd quarter. PFS Partners LLC now owns 86 shares of the medical research company’s stock worth $36,000 after purchasing an additional 42 shares in the last quarter. TOWER TRUST & INVESTMENT Co bought a new stake in Amgen during the 3rd quarter worth approximately $38,000. Finally, Security National Bank of Sioux City Iowa IA acquired a new stake in Amgen during the 2nd quarter worth approximately $36,000. Institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

Shares of AMGN stock opened at $460.42 on Friday. The company’s fifty day simple moving average is $422.43 and its 200-day simple moving average is $378.19. The company has a quick ratio of 1.13, a current ratio of 1.37 and a debt-to-equity ratio of 4.44. The firm has a market cap of $248.92 billion, a PE ratio of 26.71, a P/E/G ratio of 3.41 and a beta of 0.43. Amgen Inc. has a 12 month low of $312.39 and a 12 month high of $483.99.

Amgen (NASDAQ:AMGN) last released its 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. The business had revenue of $10.37 billion during the quarter, compared to the consensus estimate of $10.07 billion. Amgen had a net margin of 22.95% and a return on equity of 124.14%. During the same quarter last year, the firm earned $5.64 earnings per share. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. Equities research analysts expect that Amgen Inc. will post 23.33 EPS for the current fiscal year.

Amgen Announces Dividend

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

Key Amgen News

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Cantor Fitzgerald raised their price objective on shares of Amgen from $440.00 to $465.00 and gave the stock a “neutral” rating in a report on Wednesday. TD Cowen upped their target price on shares of Amgen from $452.00 to $531.00 and gave the stock a “buy” rating in a research note on Wednesday. Freedom Broker cut Amgen from a “buy” rating to a “hold” rating and increased their target price for the stock from $450.00 to $470.00 in a report on Friday. The Goldman Sachs Group lifted their price target on Amgen from $481.00 to $536.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Jefferies Financial Group restated a “hold” rating and issued a $410.00 price target on shares of Amgen in a report on Wednesday, September 23rd. One equities research 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 stock. Based on data from MarketBeat.com, Amgen has an average rating of “Hold” and a consensus price target of $420.80.

Insider Buying and Selling at Amgen

In related news, SVP Rachna Khosla sold 2,000 shares of Amgen 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 sale, the senior vice president owned 6,404 shares of the company’s stock, valued at approximately $2,642,098.28. The trade was a 23.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.85% of the stock is owned by 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.