Amgen Inc. (NASDAQ:AMGN) Position Reduced by Wilkinson Global Asset Management LLC

Wilkinson Global Asset Management LLC decreased its position in Amgen Inc. (NASDAQ:AMGN) by 2.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 285,182 shares of the medical research company’s stock after selling 8,187 shares during the period. Amgen comprises approximately 5.5% of Wilkinson Global Asset Management LLC’s portfolio, making the stock its 5th biggest holding. Wilkinson Global Asset Management LLC owned 0.05% of Amgen worth $91,888,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Strategic Financial Concepts LLC acquired a new position in Amgen in the 2nd quarter valued at about $26,000. Hershey Financial Advisers LLC acquired a new position in shares of Amgen in the second quarter valued at approximately $30,000. nVerses Capital LLC purchased a new position in shares of Amgen during the second quarter valued at approximately $31,000. Bbjs Financial Advisors LLC acquired a new stake in Amgen during the second quarter worth approximately $33,000. Finally, Matrix Trust Co acquired a new stake in Amgen during the third quarter worth approximately $36,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Price Performance

Shares of AMGN stock opened at $321.79 on Thursday. The firm has a fifty day moving average of $323.96 and a two-hundred day moving average of $316.68. The firm has a market cap of $172.91 billion, a P/E ratio of 41.20, a P/E/G ratio of 2.81 and a beta of 0.60. Amgen Inc. has a 1-year low of $260.52 and a 1-year high of $346.85. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping analysts’ consensus estimates of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The business had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.50 billion. During the same period last year, the firm earned $4.96 earnings per share. The company’s revenue for the quarter was up 23.2% compared to the same quarter last year. As a group, research analysts anticipate 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 will be paid on Monday, December 9th. Shareholders of record on Monday, November 18th will be issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date is Monday, November 18th. Amgen’s dividend payout ratio is presently 115.24%.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Sanford C. Bernstein began coverage on Amgen in a research note on Thursday, October 17th. They set an “outperform” rating and a $380.00 price target on the stock. UBS Group decreased their price target on Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Jefferies Financial Group reaffirmed a “buy” rating and set a $380.00 price objective (up previously from $375.00) on shares of Amgen in a research note on Wednesday, August 7th. Morgan Stanley lowered their target price on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a report on Thursday, July 11th. Finally, Truist Financial downgraded shares of Amgen from a “buy” rating to a “hold” rating and increased their price target for the stock from $320.00 to $333.00 in a research note on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $333.50.

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.