Oppenheimer Asset Management Inc. Decreases Stake in Amgen Inc. (NASDAQ:AMGN)

Oppenheimer Asset Management Inc. decreased its holdings in Amgen Inc. (NASDAQ:AMGN) by 12.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,099 shares of the medical research company’s stock after selling 758 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Amgen were worth $1,643,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of AMGN. Capital Performance Advisors LLP purchased a new stake in Amgen during the third quarter worth about $25,000. Strategic Financial Concepts LLC purchased a new stake in shares of Amgen during the 2nd quarter worth approximately $26,000. Hershey Financial Advisers LLC acquired a new stake in shares of Amgen in the 2nd quarter worth approximately $30,000. nVerses Capital LLC purchased a new position in Amgen in the 2nd quarter valued at approximately $31,000. Finally, Bbjs Financial Advisors LLC acquired a new position in Amgen during the second quarter worth $33,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analyst Ratings Changes

AMGN has been the topic of several research reports. Sanford C. Bernstein assumed coverage on Amgen in a report on Thursday, October 17th. They issued an “outperform” rating and a $380.00 target price on the stock. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $305.00 price objective (down from $310.00) on shares of Amgen in a research note on Wednesday, August 7th. Bank of America lifted their target price on shares of Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Truist Financial lowered shares of Amgen from a “buy” rating to a “hold” rating and increased their price target for the company from $320.00 to $333.00 in a research report on Monday, October 14th. Finally, Oppenheimer restated an “outperform” rating and set a $380.00 price objective on shares of Amgen in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $333.57.

Amgen Price Performance

AMGN opened at $283.61 on Monday. Amgen Inc. has a 1 year low of $260.52 and a 1 year high of $346.85. The company’s 50 day simple moving average is $320.85 and its 200 day simple moving average is $318.65. The stock has a market capitalization of $152.45 billion, a PE ratio of 36.31, 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 (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, beating analysts’ consensus estimates of $5.11 by $0.47. The company had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. Amgen’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same quarter last year, the business earned $4.96 EPS. As a group, sell-side analysts expect that Amgen Inc. will post 19.51 EPS for the current year.

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be issued a $2.25 dividend. The ex-dividend date is Monday, November 18th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.17%. Amgen’s dividend payout ratio (DPR) is 115.24%.

Amgen Company Profile

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.