MAI Capital Management Has $12.71 Million Stock Position in Amgen Inc. (NASDAQ:AMGN)

MAI Capital Management trimmed its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 12.9% in the third quarter, according to its most recent filing with the SEC. The firm owned 39,431 shares of the medical research company's stock after selling 5,862 shares during the period. MAI Capital Management's holdings in Amgen were worth $12,705,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Capital Performance Advisors LLP acquired a new position in Amgen during the third quarter worth $25,000. Strategic Financial Concepts LLC bought a new position in Amgen during the 2nd quarter valued at about $26,000. Hershey Financial Advisers LLC acquired a new position in Amgen in the second quarter valued at about $30,000. nVerses Capital LLC bought a new stake in Amgen during the second quarter worth about $31,000. Finally, Bbjs Financial Advisors LLC acquired a new stake in shares of Amgen during the second quarter worth approximately $33,000. 76.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

AMGN has been the topic of a number of research analyst reports. Royal Bank of Canada restated an "outperform" rating and set a $362.00 price target on shares of Amgen in a research report on Thursday, September 26th. Bank of America lifted their price target on Amgen from $325.00 to $330.00 and gave the company a "neutral" rating in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $305.00 price objective (down previously from $310.00) on shares of Amgen in a report on Wednesday, August 7th. Truist Financial downgraded shares of Amgen from a "buy" rating to a "hold" rating and boosted their target price for the stock from $320.00 to $333.00 in a research note on Monday, October 14th. Finally, Wells Fargo & Company lowered shares of Amgen from an "overweight" rating to an "equal weight" rating and raised their price target for the company from $320.00 to $335.00 in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $333.57.

Amgen Stock Up 0.4 %

Shares of AMGN traded up $1.19 during midday trading on Tuesday, hitting $279.95. The stock had a trading volume of 2,944,243 shares, compared to its average volume of 2,459,209. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. The firm has a market cap of $150.48 billion, a price-to-earnings ratio of 35.69, a price-to-earnings-growth ratio of 2.53 and a beta of 0.60. The company has a 50 day simple moving average of $319.90 and a two-hundred day simple moving average of $318.65. Amgen Inc. has a twelve month low of $260.52 and a twelve month high of $346.85.

Amgen (NASDAQ:AMGN - Get Free Report) last released its earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, beating the consensus estimate of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The firm had revenue of $8.50 billion for the quarter, compared to analysts' expectations of $8.50 billion. During the same quarter in the previous year, the business posted $4.96 EPS. The business's quarterly revenue was up 23.2% compared to the same quarter last year. On average, analysts anticipate that Amgen Inc. will post 19.51 EPS for the current year.

Amgen Dividend Announcement

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

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.