7,470 Amgen Inc. $AMGN Shares Sold by Hennessy Advisors Inc.

Hennessy Advisors Inc. reduced its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 39.1% during the third quarter, HoldingsChannel.com reports. The fund owned 11,650 shares of the medical research company’s stock after selling 7,470 shares during the quarter. Hennessy Advisors Inc.’s holdings in Amgen were worth $4,911,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Amgen during the third quarter worth about $341,941,000. Aviance Capital Partners LLC raised its position in Amgen by 0.7% in the third quarter. Aviance Capital Partners LLC now owns 37,246 shares of the medical research company’s stock worth $15,699,000 after acquiring an additional 248 shares during the period. Northern Financial Advisors Inc boosted its stake in Amgen by 1.0% in the third quarter. Northern Financial Advisors Inc now owns 3,886 shares of the medical research company’s stock valued at $1,638,000 after acquiring an additional 39 shares during the last quarter. Stevens Capital Partners purchased a new position in Amgen in the third quarter valued at about $344,000. Finally, ProShare Advisors LLC boosted its stake in Amgen by 2.3% in the third quarter. ProShare Advisors LLC now owns 713,097 shares of the medical research company’s stock valued at $300,578,000 after acquiring an additional 16,067 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors.

Amgen Trading Down 0.1%

Shares of AMGN stock opened at $465.45 on Tuesday. The stock has a market capitalization of $251.64 billion, a price-to-earnings ratio of 28.93, a PEG ratio of 3.31 and a beta of 0.41. The company’s fifty day simple moving average is $420.49 and its two-hundred day simple moving average is $375.49. Amgen Inc. has a 1 year low of $292.12 and a 1 year high of $475.64. The company has a debt-to-equity ratio of 4.44, a current ratio of 1.37 and a quick ratio of 1.13.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, August 4th. The medical research company reported $6.29 EPS for the quarter, topping analysts’ consensus estimates of $5.62 by $0.67. Amgen had a return on equity of 124.14% and a net margin of 22.95%. The firm had revenue of $10.05 billion during the quarter, compared to analyst estimates of $9.43 billion. During the same period last year, the company earned $6.02 earnings per share. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. As a group, analysts anticipate that Amgen Inc. will post 22.96 earnings per share for the current year.

Amgen Dividend Announcement

The business also recently announced 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 is Friday, November 20th. This represents a $10.08 annualized dividend and a yield of 2.2%. Amgen’s dividend payout ratio (DPR) is currently 62.65%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of Amgen from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, October 8th. Morgan Stanley dropped their price target on Amgen from $362.00 to $359.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 7th. Truist Financial increased their price target on Amgen from $362.00 to $380.00 and gave the stock a “hold” rating in a research note on Wednesday, October 7th. Scotiabank lifted their price objective on Amgen from $450.00 to $500.00 and gave the stock an “outperform” rating in a report on Monday, September 28th. Finally, Piper Sandler boosted their price objective on Amgen from $427.00 to $457.00 and gave the company an “overweight” rating in a research note on Thursday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, sixteen have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, Amgen has a consensus rating of “Hold” and an average price target of $389.71.

Insider Transactions at Amgen

In other news, SVP Nancy A. Grygiel sold 2,970 shares of the stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $402.16, for a total value of $1,194,415.20. Following the sale, the senior vice president directly owned 7,340 shares of the company’s stock, valued at approximately $2,951,854.40. This represents a 28.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Rachna Khosla sold 2,000 shares of the stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $412.57, for a total transaction of $825,140.00. Following the completion of the sale, the senior vice president directly owned 6,404 shares in the company, valued at approximately $2,642,098.28. The trade was a 23.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 6,222 shares of company stock valued at $2,540,926 in the last ninety days. Insiders own 0.85% of the company’s stock.

About Amgen

Amgen Inc is a biotechnology company that discovers, develops, manufactures and delivers medicines for serious illnesses. Its research focuses on areas including oncology, cardiovascular disease, inflammation, bone health, nephrology and neuroscience.

The company’s products include biologic and specialty medicines such as Enbrel for inflammatory diseases, Prolia and Evenity for osteoporosis, Xgeva for skeletal-related complications, Repatha for cardiovascular risk reduction, Otezla for inflammatory conditions, Tezspire for severe asthma, Blincyto for certain blood cancers, and Lumakras for specific cancers.

Founded in 1980, Amgen is headquartered in Thousand Oaks, California.