Amgen Inc. (NASDAQ:AMGN) Position Lifted by Smead Capital Management Inc.

Smead Capital Management Inc. grew its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 3.5% during the third quarter, HoldingsChannel reports. The firm owned 1,172,866 shares of the medical research company’s stock after purchasing an additional 39,559 shares during the quarter. Amgen accounts for approximately 5.4% of Smead Capital Management Inc.’s investment portfolio, making the stock its 6th largest holding. Smead Capital Management Inc.’s holdings in Amgen were worth $377,909,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Capital Performance Advisors LLP acquired a new stake in shares of Amgen during the 3rd quarter worth $25,000. Hershey Financial Advisers LLC acquired a new stake in shares of Amgen during the 2nd quarter worth $30,000. nVerses Capital LLC acquired a new stake in shares of Amgen during the 2nd quarter worth $31,000. Bbjs Financial Advisors LLC acquired a new stake in shares of Amgen during the 2nd quarter worth $33,000. Finally, Matrix Trust Co acquired a new stake in shares of Amgen during the 3rd quarter worth $36,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

Shares of AMGN stock opened at $278.76 on Tuesday. 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 one year low of $260.52 and a one year high of $346.85. The company’s 50-day simple moving average is $319.90 and its 200-day simple moving average is $318.65. The stock has a market capitalization of $149.84 billion, a price-to-earnings ratio of 35.69, a PEG ratio of 2.53 and a beta of 0.60.

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

Amgen Announces Dividend

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

Analysts Set New Price Targets

AMGN has been the subject of a number of research analyst reports. Jefferies Financial Group restated a “buy” rating and set a $380.00 price objective on shares of Amgen in a report on Tuesday, November 12th. Citigroup initiated coverage on Amgen in a report on Thursday, November 14th. They issued a “neutral” rating and a $335.00 price target for the company. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $305.00 price target (down from $310.00) on shares of Amgen in a report on Wednesday, August 7th. Truist Financial downgraded 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 report on Monday, October 14th. Finally, Robert W. Baird reiterated an “underperform” rating and issued a $215.00 price target on shares of Amgen in a report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Amgen presently has a consensus rating of “Moderate Buy” and a consensus price target of $333.57.

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.