Amgen Inc. $AMGN Stock Holdings Lessened by Tamar Securities LLC

Tamar Securities LLC decreased its position in shares of Amgen Inc. (NASDAQ:AMGN) by 2.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 66,443 shares of the medical research company’s stock after selling 1,552 shares during the period. Amgen accounts for approximately 2.5% of Tamar Securities LLC’s portfolio, making the stock its 15th biggest position. Tamar Securities LLC’s holdings in Amgen were worth $28,006,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the business. State Street Corp grew its stake in Amgen by 38.2% during the second quarter. State Street Corp now owns 42,205,243 shares of the medical research company’s stock worth $15,283,363,000 after buying an additional 11,656,755 shares during the last quarter. MW Advisory LLC bought a new position in shares of Amgen during the 2nd quarter worth approximately $1,054,000. Baird Financial Group Inc. grew its stake in shares of Amgen by 1.6% in the second quarter. Baird Financial Group Inc. now owns 339,825 shares of the medical research company’s stock valued at $123,057,000 after acquiring an additional 5,496 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in Amgen by 105.8% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 13,514 shares of the medical research company’s stock worth $5,696,000 after purchasing an additional 6,947 shares during the last quarter. Finally, Nilsine Partners LLC bought a new stake in Amgen during the 2nd quarter worth approximately $3,329,000. 76.50% of the stock is owned by institutional investors.

Key Stories Impacting Amgen

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Amgen reported quarterly earnings and revenue above expectations, with revenue up 8.5% year over year. Its earnings-call discussion also emphasized growth and pipeline momentum, supporting the case for continued expansion. Amgen Earnings Call Highlights Growth, Pipeline Momentum
• Positive Sentiment: A large real-world study found Repatha lowered heart-attack risk by 20% versus ezetimibe in patients with heart disease. The findings could strengthen the drug’s clinical and commercial position. Repatha real-world study
• Positive Sentiment: Scotiabank reiterated a Buy view and set a $530 price target; UBS also maintains a Buy rating with a $530 target. Separately, ETFs bought a net $79.8 million of AMGN shares in Wednesday’s session. Scotiabank price target ETF holdings
• Neutral Sentiment: Analyst opinions remain divided: Leerink Partners and Guggenheim have Hold/neutral ratings, while Scotiabank and UBS are more optimistic. The differing views suggest debate about how much of Amgen’s recent gains are already reflected in its valuation. Leerink Partners rating
• Negative Sentiment: Freedom Broker downgraded Amgen to Hold, adding to the cautious analyst commentary and potentially tempering enthusiasm after the recent rally. Freedom Broker downgrade

Amgen Trading Up 0.0%

AMGN stock traded up $0.14 on Friday, hitting $460.42. 2,579,312 shares of the company were exchanged, compared to its average volume of 2,619,150. Amgen Inc. has a twelve month low of $312.39 and a twelve month high of $483.99. The business’s fifty day moving average is $422.43 and its two-hundred day moving average is $378.19. The stock has a market capitalization of $248.92 billion, a price-to-earnings ratio of 26.71, a price-to-earnings-growth ratio of 3.41 and a beta of 0.43. 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 issued its earnings results on Tuesday, November 3rd. The medical research company reported $6.45 earnings per share for the quarter, topping the consensus estimate of $5.79 by $0.66. The company had revenue of $10.37 billion during the quarter, compared to the consensus estimate of $10.07 billion. Amgen had a return on equity of 124.14% and a net margin of 22.95%. The company’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.64 earnings per share. As a group, research analysts forecast that Amgen Inc. will post 23.33 earnings per share for the current year.

Amgen Dividend Announcement

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

Insiders Place Their Bets

In other news, SVP Rachna Khosla sold 2,000 shares of the firm’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $412.57, for a total value of $825,140.00. Following the sale, the senior vice president owned 6,404 shares in the company, valued at approximately $2,642,098.28. This trade represents a 23.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.85% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on AMGN shares. Jefferies Financial Group reissued a “hold” rating and set a $410.00 target price on shares of Amgen in a research report on Wednesday, September 23rd. UBS Group lifted their price target on shares of Amgen from $470.00 to $530.00 and gave the stock a “buy” rating in a research note on Wednesday. The Goldman Sachs Group increased their price objective on shares of Amgen from $481.00 to $536.00 and gave the stock a “buy” rating in a research report on Wednesday. Truist Financial raised their price objective on Amgen from $380.00 to $398.00 and gave the stock a “hold” rating in a research note on Wednesday. Finally, Piper Sandler upped their target price on shares of Amgen from $427.00 to $457.00 and gave the company an “overweight” rating in a research report on Thursday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eighteen have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $420.80.

About Amgen

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.