Pitcairn Co. Trims Stake in Amgen Inc. (NASDAQ:AMGN)

Pitcairn Co. reduced its holdings in Amgen Inc. (NASDAQ:AMGN) by 8.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,137 shares of the medical research company’s stock after selling 1,488 shares during the period. Pitcairn Co.’s holdings in Amgen were worth $5,200,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of AMGN. Gamco Investors INC. ET AL boosted its stake in shares of Amgen by 5.3% in the first quarter. Gamco Investors INC. ET AL now owns 5,431 shares of the medical research company’s stock worth $1,544,000 after acquiring an additional 271 shares during the last quarter. Lazard Asset Management LLC lifted its position in Amgen by 4.4% during the first quarter. Lazard Asset Management LLC now owns 31,841 shares of the medical research company’s stock worth $9,051,000 after buying an additional 1,353 shares in the last quarter. Steel Grove Capital Advisors LLC lifted its position in Amgen by 30.5% during the first quarter. Steel Grove Capital Advisors LLC now owns 1,283 shares of the medical research company’s stock worth $365,000 after buying an additional 300 shares in the last quarter. Kestra Advisory Services LLC lifted its position in Amgen by 25.6% during the first quarter. Kestra Advisory Services LLC now owns 80,582 shares of the medical research company’s stock worth $22,911,000 after buying an additional 16,407 shares in the last quarter. Finally, Mount Yale Investment Advisors LLC lifted its position in Amgen by 5.8% during the first quarter. Mount Yale Investment Advisors LLC now owns 5,696 shares of the medical research company’s stock worth $1,619,000 after buying an additional 311 shares in the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on AMGN shares. Jefferies Financial Group reiterated a “buy” rating and set a $380.00 price objective on shares of Amgen in a research report on Tuesday, November 12th. William Blair restated an “outperform” rating on shares of Amgen in a research report on Tuesday, November 12th. Truist Financial downgraded Amgen from a “buy” rating to a “hold” rating and lifted their target price for the company from $320.00 to $333.00 in a research report on Monday, October 14th. Dbs Bank upgraded Amgen to a “strong-buy” rating in a research report on Monday, September 16th. Finally, Bank of America lifted their target price on Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $333.57.

Amgen Trading Up 1.6 %

NASDAQ:AMGN opened at $294.53 on Friday. The stock has a 50-day simple moving average of $316.52 and a 200-day simple moving average of $317.98. The stock has a market cap of $158.32 billion, a P/E ratio of 37.71, a P/E/G ratio of 2.59 and a beta of 0.60. Amgen Inc. has a 1 year low of $260.68 and a 1 year high of $346.85. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32.

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, topping the consensus estimate of $5.11 by $0.47. The business had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The business’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.96 EPS. As a group, analysts anticipate that Amgen Inc. will post 19.52 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be given a $2.25 dividend. The ex-dividend date is Monday, November 18th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.06%. Amgen’s dividend payout ratio (DPR) is presently 115.24%.

Amgen Profile

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.