Hodges Capital Management Inc. Trims Stock Position in Amgen Inc. (NASDAQ:AMGN)

Hodges Capital Management Inc. decreased its position in Amgen Inc. (NASDAQ:AMGN) by 9.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,672 shares of the medical research company’s stock after selling 1,543 shares during the period. Hodges Capital Management Inc.’s holdings in Amgen were worth $5,050,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Meyer Handelman Co. raised its holdings in shares of Amgen by 7.2% in the 2nd quarter. Meyer Handelman Co. now owns 129,831 shares of the medical research company’s stock valued at $40,566,000 after purchasing an additional 8,700 shares in the last quarter. First Horizon Advisors Inc. raised its stake in Amgen by 3.2% in the third quarter. First Horizon Advisors Inc. now owns 60,769 shares of the medical research company’s stock worth $19,581,000 after buying an additional 1,872 shares in the last quarter. Napa Wealth Management purchased a new stake in Amgen during the third quarter worth $1,104,000. Swiss National Bank boosted its position in Amgen by 0.3% during the 3rd quarter. Swiss National Bank now owns 1,592,233 shares of the medical research company’s stock valued at $513,033,000 after acquiring an additional 5,500 shares in the last quarter. Finally, Summit Trail Advisors LLC increased its holdings in shares of Amgen by 40.1% in the 3rd quarter. Summit Trail Advisors LLC now owns 7,552 shares of the medical research company’s stock valued at $2,433,000 after acquiring an additional 2,163 shares during the period. Institutional investors own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AMGN. Sanford C. Bernstein began coverage on Amgen in a research report on Thursday, October 17th. They set an “outperform” rating and a $380.00 price objective on the stock. Robert W. Baird restated an “underperform” rating and issued a $215.00 price target on shares of Amgen in a report on Wednesday, September 25th. Truist Financial lowered shares of Amgen from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $320.00 to $333.00 in a research note on Monday, October 14th. Jefferies Financial Group restated a “buy” rating and issued a $380.00 target price on shares of Amgen in a research note on Tuesday, November 12th. Finally, Wolfe Research began coverage on Amgen in a research report on Friday, November 15th. They set a “peer perform” rating on the stock. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $323.05.

Amgen Price Performance

NASDAQ:AMGN opened at $272.58 on Friday. The firm’s fifty day moving average is $306.58 and its two-hundred day moving average is $315.82. The firm has a market cap of $146.52 billion, a price-to-earnings ratio of 34.90, a PEG ratio of 3.08 and a beta of 0.55. 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 $257.80 and a one year high of $346.85.

Amgen (NASDAQ:AMGN) last posted its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, beating 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 firm had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.50 billion. During the same period in the previous year, the firm earned $4.96 EPS. The business’s quarterly revenue was up 23.2% on a year-over-year basis. Research analysts expect that Amgen Inc. will post 19.51 EPS for the current year.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 18th will be given a dividend of $2.25 per share. The ex-dividend date is Monday, November 18th. This represents a $9.00 dividend on an annualized basis and a yield of 3.30%. Amgen’s dividend payout ratio is currently 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.