W.G. Shaheen & Associates DBA Whitney & Co Reduces Position in Amgen Inc. (NASDAQ:AMGN)

W.G. Shaheen & Associates DBA Whitney & Co lessened its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 2.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,130 shares of the medical research company’s stock after selling 231 shares during the period. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in Amgen were worth $2,942,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Hillsdale Investment Management Inc. boosted its holdings in shares of Amgen by 44.3% in the first quarter. Hillsdale Investment Management Inc. now owns 1,400 shares of the medical research company’s stock valued at $398,000 after purchasing an additional 430 shares during the period. Bessemer Group Inc. boosted its holdings in shares of Amgen by 29.3% in the first quarter. Bessemer Group Inc. now owns 37,202 shares of the medical research company’s stock valued at $10,578,000 after purchasing an additional 8,441 shares during the period. CANADA LIFE ASSURANCE Co boosted its holdings in shares of Amgen by 2.7% in the first quarter. CANADA LIFE ASSURANCE Co now owns 49,931 shares of the medical research company’s stock valued at $14,241,000 after purchasing an additional 1,311 shares during the period. InterOcean Capital Group LLC boosted its holdings in shares of Amgen by 3.7% in the first quarter. InterOcean Capital Group LLC now owns 7,055 shares of the medical research company’s stock valued at $2,006,000 after purchasing an additional 250 shares during the period. Finally, Ossiam boosted its holdings in shares of Amgen by 154.2% in the first quarter. Ossiam now owns 49,414 shares of the medical research company’s stock valued at $14,049,000 after purchasing an additional 29,975 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Price Performance

Shares of AMGN opened at $278.76 on Tuesday. The business’s 50-day moving average is $319.90 and its two-hundred day moving average is $318.65. The company has a market capitalization of $149.84 billion, a P/E ratio of 35.69, a P/E/G ratio of 2.53 and a beta of 0.60. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. Amgen Inc. has a fifty-two week low of $260.52 and a fifty-two week high of $346.85.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, topping the consensus estimate of $5.11 by $0.47. The company had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The firm’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same period last year, the firm earned $4.96 EPS. Research analysts predict that Amgen Inc. will post 19.51 earnings per share for the current year.

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be paid a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 3.23%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s payout ratio is currently 115.24%.

Analyst Ratings Changes

AMGN has been the subject of a number of research reports. Barclays boosted their price target on Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Jefferies Financial Group restated a “buy” rating and set a $380.00 target price on shares of Amgen in a report on Tuesday, November 12th. UBS Group lowered their target price on Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Truist Financial lowered Amgen from a “buy” rating to a “hold” rating and upped their target price for the stock from $320.00 to $333.00 in a report on Monday, October 14th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $362.00 target price on shares of Amgen in a report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Amgen presently has a consensus rating of “Moderate Buy” and an average price target of $333.57.

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.