Amgen Inc. (NASDAQ:AMGN) Shares Sold by ING Groep NV

ING Groep NV reduced its holdings in Amgen Inc. (NASDAQ:AMGN) by 3.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 294,421 shares of the medical research company’s stock after selling 9,502 shares during the quarter. Amgen makes up 0.6% of ING Groep NV’s portfolio, making the stock its 29th biggest holding. ING Groep NV owned approximately 0.05% of Amgen worth $94,865,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in AMGN. Capital Performance Advisors LLP acquired a new stake in shares of Amgen in the third quarter worth approximately $25,000. Strategic Financial Concepts LLC acquired a new position in shares of Amgen in the 2nd quarter valued at $26,000. Hershey Financial Advisers LLC purchased a new stake in shares of Amgen during the 2nd quarter valued at $30,000. nVerses Capital LLC purchased a new stake in shares of Amgen during the 2nd quarter valued at $31,000. Finally, Bbjs Financial Advisors LLC acquired a new stake in shares of Amgen during the 2nd quarter worth $33,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AMGN. Royal Bank of Canada reiterated an “outperform” rating and issued a $362.00 target price on shares of Amgen in a report on Thursday, September 26th. Truist Financial cut Amgen from a “buy” rating to a “hold” rating and boosted their target price for the stock from $320.00 to $333.00 in a report on Monday, October 14th. Bank of America raised their price target on shares of Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. William Blair restated an “outperform” rating on shares of Amgen in a report on Tuesday. Finally, Sanford C. Bernstein started coverage on Amgen in a report on Thursday, October 17th. They issued an “outperform” rating and a $380.00 price target for the company. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $333.57.

Amgen Stock Performance

Shares of AMGN stock traded down $4.25 on Thursday, hitting $297.19. 1,063,441 shares of the stock traded hands, compared to its average volume of 2,429,708. The company has a market capitalization of $159.75 billion, a PE ratio of 38.60, a PEG ratio of 2.67 and a beta of 0.60. The company’s fifty day moving average is $322.15 and its 200 day moving average is $318.15. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. Amgen Inc. has a 1-year low of $260.52 and a 1-year high of $346.85.

Amgen (NASDAQ:AMGN) last issued its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share 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 for the quarter, compared to analysts’ expectations of $8.50 billion. During the same period in the prior year, the company earned $4.96 earnings per share. The firm’s revenue was up 23.2% compared to the same quarter last year. On average, equities research analysts predict that Amgen Inc. will post 19.51 earnings per share for the current fiscal year.

Amgen Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 3.03%. The ex-dividend date is Monday, November 18th. Amgen’s dividend payout ratio (DPR) is presently 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.