Amgen Inc. $AMGN Stock Sold by King Luther Capital Management Corp

King Luther Capital Management Corp cut its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 0.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 490,602 shares of the medical research company’s stock after selling 2,563 shares during the period. Amgen accounts for approximately 0.9% of King Luther Capital Management Corp’s holdings, making the stock its 29th biggest holding. King Luther Capital Management Corp owned about 0.09% of Amgen worth $206,794,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Maryland State Retirement & Pension System lifted its stake in shares of Amgen by 13.3% in the 3rd quarter. Maryland State Retirement & Pension System now owns 33,027 shares of the medical research company’s stock valued at $13,921,000 after purchasing an additional 3,869 shares during the period. Ritholtz Wealth Management boosted its position in shares of Amgen by 9.1% in the 3rd quarter. Ritholtz Wealth Management now owns 18,963 shares of the medical research company’s stock worth $7,993,000 after purchasing an additional 1,580 shares during the last quarter. Joel Isaacson & Co. LLC grew its stake in shares of Amgen by 1.7% during the third quarter. Joel Isaacson & Co. LLC now owns 8,175 shares of the medical research company’s stock worth $3,446,000 after purchasing an additional 135 shares during the period. Jacobi Capital Management LLC grew its stake in shares of Amgen by 1.5% during the third quarter. Jacobi Capital Management LLC now owns 12,745 shares of the medical research company’s stock worth $5,372,000 after purchasing an additional 192 shares during the period. Finally, Illinois Municipal Retirement Fund grew its stake in shares of Amgen by 3.8% during the third quarter. Illinois Municipal Retirement Fund now owns 60,996 shares of the medical research company’s stock worth $25,710,000 after purchasing an additional 2,230 shares during the period. Institutional investors own 76.50% of the company’s stock.

Recent Amgen Headlines

Here are a few of the latest headlines about AMGN:

• Positive Sentiment: Dazodalibep met the primary endpoint in the 648-patient OASIZ-301 trial, with both dosing regimens producing statistically significant reductions in systemic disease activity versus placebo over 48 weeks. Amgen also reported clinically meaningful improvements in patient-reported symptoms, potentially positioning the drug in a disease area with no approved treatments. Reuters article
• Neutral Sentiment: The positive data may improve dazodalibep’s commercial prospects, but it remains investigational; further development and regulatory review are needed before it can generate sales. Amgen announcement
• Negative Sentiment: Despite the encouraging results, some coverage reported that Amgen shares slipped, indicating investors may be taking a cautious or “sell-the-news” approach rather than immediately pricing in the drug’s longer-term potential. MSN article

Amgen Stock Up 0.6%

Shares of Amgen stock opened at $468.11 on Thursday. The company has a market capitalization of $253.21 billion, a P/E ratio of 27.15, a price-to-earnings-growth ratio of 3.25 and a beta of 0.43. The company has a debt-to-equity ratio of 3.60, a current ratio of 1.48 and a quick ratio of 1.20. The business has a 50-day moving average of $424.39 and a two-hundred day moving average of $380.01. Amgen Inc. has a 1 year low of $312.39 and a 1 year high of $483.99.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, November 3rd. The medical research company reported $6.45 earnings per share for the quarter, beating the consensus estimate of $5.79 by $0.66. Amgen had a return on equity of 114.99% and a net margin of 24.14%. The business had revenue of $10.37 billion for the quarter, compared to analysts’ expectations of $10.07 billion. During the same quarter in the previous year, the business posted $5.64 EPS. Amgen’s revenue for the quarter was up 8.5% on a year-over-year basis. As a group, equities analysts predict that Amgen Inc. will post 23.33 EPS for the current year.

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 11th. Shareholders of record on Friday, November 20th will be paid a $2.52 dividend. The ex-dividend date of this dividend is Friday, November 20th. This represents a $10.08 dividend on an annualized basis and a yield of 2.2%. Amgen’s payout ratio is presently 58.47%.

Analyst Ratings Changes

AMGN has been the subject of a number of recent analyst reports. Leerink Partners upped their price objective on Amgen from $395.00 to $464.00 and gave the company a “market perform” rating in a report on Thursday, November 5th. Royal Bank Of Canada raised their target price on Amgen from $430.00 to $470.00 and gave the stock an “outperform” rating in a report on Wednesday, November 4th. Oppenheimer restated an “outperform” rating on shares of Amgen in a research report on Friday, October 23rd. Truist Financial boosted their target price on Amgen from $380.00 to $398.00 and gave the stock a “hold” rating in a research report on Wednesday, November 4th. Finally, HSBC cut Amgen from a “buy” rating to a “hold” rating and lowered their price target for the company from $445.00 to $425.00 in a research note on Thursday, September 10th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eighteen have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $422.76.

Amgen Profile

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. Bradway, who has served as its chief executive officer since 2012.