Amgen Inc. (NASDAQ:AMGN) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company decreased its position in Amgen Inc. (NASDAQ:AMGN) by 3.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 493,110 shares of the medical research company’s stock after selling 15,821 shares during the period. The Manufacturers Life Insurance Company’s holdings in Amgen were worth $158,885,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Keynote Financial Services LLC boosted its position in Amgen by 0.6% during the second quarter. Keynote Financial Services LLC now owns 4,898 shares of the medical research company’s stock worth $1,530,000 after purchasing an additional 30 shares in the last quarter. Ascent Group LLC raised its stake in shares of Amgen by 0.3% during the 2nd quarter. Ascent Group LLC now owns 10,949 shares of the medical research company’s stock worth $3,421,000 after buying an additional 31 shares during the period. Hofer & Associates. Inc lifted its position in shares of Amgen by 0.5% during the 2nd quarter. Hofer & Associates. Inc now owns 6,477 shares of the medical research company’s stock valued at $2,024,000 after buying an additional 32 shares in the last quarter. Cadinha & Co. LLC grew its stake in Amgen by 0.6% in the 3rd quarter. Cadinha & Co. LLC now owns 5,209 shares of the medical research company’s stock valued at $1,678,000 after acquiring an additional 32 shares during the period. Finally, Lansing Street Advisors increased its holdings in Amgen by 1.3% in the 3rd quarter. Lansing Street Advisors now owns 2,582 shares of the medical research company’s stock worth $832,000 after acquiring an additional 32 shares in the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Price Performance

NASDAQ:AMGN opened at $280.01 on Wednesday. Amgen Inc. has a 52 week low of $257.80 and a 52 week high of $346.85. The stock’s fifty day moving average is $314.64 and its two-hundred day moving average is $317.84. The company has a market capitalization of $150.51 billion, a P/E ratio of 35.85, a P/E/G ratio of 2.63 and a beta of 0.60. 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 issued its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The firm had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. During the same period in the previous year, the firm earned $4.96 EPS. Amgen’s revenue was up 23.2% on a year-over-year basis. Equities analysts expect that Amgen Inc. will post 19.52 EPS for the current year.

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be issued a $2.25 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $9.00 annualized dividend and a dividend yield of 3.21%. Amgen’s dividend payout ratio is currently 115.24%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on AMGN shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $405.00 target price on shares of Amgen in a research report on Tuesday, October 22nd. Wolfe Research started coverage on Amgen in a research note on Friday, November 15th. They set a “peer perform” rating for the company. William Blair restated an “outperform” rating on shares of Amgen in a research report on Tuesday, November 12th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $380.00 price target on shares of Amgen in a research note on Tuesday, November 12th. Finally, Truist Financial lowered Amgen from a “buy” rating to a “hold” rating and raised their price objective for the company from $320.00 to $333.00 in a report on Monday, October 14th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Amgen has an average rating of “Moderate Buy” and a consensus target price of $333.57.

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.