Wellington Management Group LLP lifted its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 2.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 239,354 shares of the medical research company's stock after buying an additional 4,942 shares during the period. Wellington Management Group LLP's holdings in Amgen were worth $77,122,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new stake in shares of Amgen during the third quarter worth about $25,000. Strategic Financial Concepts LLC purchased a new position in Amgen during the 2nd quarter worth approximately $26,000. Hershey Financial Advisers LLC purchased a new position in Amgen during the 2nd quarter worth approximately $30,000. nVerses Capital LLC acquired a new position in Amgen during the second quarter worth approximately $31,000. Finally, Matrix Trust Co purchased a new stake in Amgen in the third quarter valued at approximately $36,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
AMGN has been the topic of a number of research reports. Leerink Partners lowered their target price on shares of Amgen from $349.00 to $302.00 in a research report on Wednesday, November 27th. Truist Financial downgraded shares of Amgen from a "buy" rating to a "hold" rating and raised their price objective for the stock from $320.00 to $333.00 in a research report on Monday, October 14th. UBS Group reduced their target price on shares of Amgen from $335.00 to $326.00 and set a "neutral" rating for the company in a report on Thursday, October 31st. Jefferies Financial Group reiterated a "buy" rating and set a $380.00 target price on shares of Amgen in a research note on Tuesday, November 12th. Finally, Robert W. Baird restated an "underperform" rating and issued a $215.00 price target on shares of Amgen in a research report on Wednesday, September 25th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $319.68.
Get Our Latest Stock Analysis on AMGN
Amgen Price Performance
Shares of AMGN stock traded down $2.34 during mid-day trading on Wednesday, reaching $273.41. The stock had a trading volume of 4,491,960 shares, compared to its average volume of 2,615,229. Amgen Inc. has a 12-month low of $257.80 and a 12-month high of $346.85. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. The business has a 50-day simple moving average of $304.80 and a 200 day simple moving average of $315.45. The company has a market cap of $146.97 billion, a P/E ratio of 34.83, a price-to-earnings-growth ratio of 3.02 and a beta of 0.55.
Amgen (NASDAQ:AMGN - Get Free Report) last announced its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The company had revenue of $8.50 billion during the quarter, compared to analysts' expectations of $8.50 billion. During the same quarter in the previous year, the business posted $4.96 earnings per share. The firm's quarterly revenue was up 23.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Amgen Inc. will post 19.51 earnings per share for the current year.
Amgen Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be given a $2.38 dividend. This is an increase from Amgen's previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a dividend yield of 3.48%. The ex-dividend date is Friday, February 14th. Amgen's dividend payout ratio is currently 115.24%.
About Amgen
(
Free Report)
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.
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