Amgen Inc. (NASDAQ:AMGN) Holdings Lowered by Beech Hill Advisors Inc.

Beech Hill Advisors Inc. cut its stake in Amgen Inc. (NASDAQ:AMGN) by 37.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 1,350 shares of the medical research company’s stock after selling 800 shares during the period. Beech Hill Advisors Inc.’s holdings in Amgen were worth $435,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AMGN. Vanguard Group Inc. lifted its holdings in shares of Amgen by 6.2% in the first quarter. Vanguard Group Inc. now owns 52,088,210 shares of the medical research company’s stock valued at $14,809,720,000 after buying an additional 3,045,657 shares during the period. Capital International Investors raised its position in Amgen by 547.8% in the first quarter. Capital International Investors now owns 7,005,269 shares of the medical research company’s stock worth $1,991,738,000 after acquiring an additional 5,923,915 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Amgen by 6.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,701,631 shares of the medical research company’s stock worth $844,137,000 after acquiring an additional 162,223 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in Amgen by 137.1% in the 1st quarter. Janus Henderson Group PLC now owns 2,381,133 shares of the medical research company’s stock valued at $676,984,000 after acquiring an additional 1,377,007 shares during the last quarter. Finally, Boston Partners boosted its position in shares of Amgen by 27.4% during the 1st quarter. Boston Partners now owns 2,237,334 shares of the medical research company’s stock valued at $635,179,000 after purchasing an additional 481,214 shares in the last quarter. 76.50% of the stock is owned by institutional investors.

Amgen Stock Performance

Shares of AMGN stock opened at $321.63 on Thursday. Amgen Inc. has a fifty-two week low of $249.70 and a fifty-two week high of $346.85. The stock’s 50-day moving average is $326.15 and its two-hundred day moving average is $311.56. The company has a debt-to-equity ratio of 9.64, a current ratio of 1.26 and a quick ratio of 0.89. The firm has a market cap of $172.53 billion, a P/E ratio of 45.95, a PEG ratio of 2.86 and a beta of 0.61.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 EPS for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). The firm had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.35 billion. Amgen had a return on equity of 161.72% and a net margin of 10.12%. The company’s quarterly revenue was up 20.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $5.00 EPS. Analysts predict that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were paid a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.80%. The ex-dividend date was Friday, August 16th. Amgen’s payout ratio is presently 128.57%.

Analyst Ratings Changes

Several analysts recently commented on AMGN shares. Dbs Bank raised shares of Amgen to a “strong-buy” rating in a research note on Monday, September 16th. Truist Financial downgraded Amgen from a “buy” rating to a “hold” rating and increased their price objective for the company from $320.00 to $333.00 in a research report on Monday. Argus lifted their target price on Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Wells Fargo & Company lowered Amgen from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $320.00 to $335.00 in a research report on Wednesday, August 7th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $380.00 price target on shares of Amgen in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $329.48.

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.