Horizon Kinetics Asset Management LLC Reduces Holdings in Amgen Inc. (NASDAQ:AMGN)

Horizon Kinetics Asset Management LLC lowered its position in Amgen Inc. (NASDAQ:AMGN) by 3.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,456 shares of the medical research company’s stock after selling 141 shares during the quarter. Horizon Kinetics Asset Management LLC’s holdings in Amgen were worth $1,114,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its holdings in Amgen by 2.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 10,532,629 shares of the medical research company’s stock worth $3,393,718,000 after purchasing an additional 251,876 shares in the last quarter. Pathway Financial Advisers LLC lifted its holdings in shares of Amgen by 33,125.4% in the third quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock worth $1,437,115,000 after buying an additional 4,446,757 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Amgen by 6.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,701,631 shares of the medical research company’s stock valued at $844,137,000 after acquiring an additional 162,223 shares during the period. International Assets Investment Management LLC grew its stake in Amgen by 6,812.4% during the third quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock valued at $8,130,610,000 after acquiring an additional 2,486,882 shares in the last quarter. Finally, Boston Partners grew its stake in Amgen by 27.4% during the first quarter. Boston Partners now owns 2,237,334 shares of the medical research company’s stock valued at $635,179,000 after acquiring an additional 481,214 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors.

Amgen Stock Down 0.2 %

Shares of Amgen stock opened at $294.00 on Tuesday. The company has a 50-day moving average of $315.69 and a 200 day moving average of $318.05. Amgen Inc. has a 1 year low of $260.68 and a 1 year high of $346.85. The firm has a market cap of $158.03 billion, a price-to-earnings ratio of 37.64, a PEG ratio of 2.63 and a beta of 0.60. 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 (NASDAQ:AMGN) last announced its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 EPS 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 company had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. During the same period in the prior year, the firm posted $4.96 EPS. Amgen’s revenue for the quarter was up 23.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Amgen Inc. will post 19.52 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be issued a $2.25 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $9.00 annualized dividend and a yield of 3.06%. Amgen’s payout ratio is 115.24%.

Analyst Upgrades and Downgrades

AMGN has been the subject of several analyst reports. Wells Fargo & Company downgraded shares of Amgen from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $320.00 to $335.00 in a report on Wednesday, August 7th. StockNews.com raised Amgen from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 1st. Royal Bank of Canada reissued an “outperform” rating and issued a $362.00 price target on shares of Amgen in a report on Thursday, September 26th. Dbs Bank raised shares of Amgen to a “strong-buy” rating in a research note on Monday, September 16th. Finally, Truist Financial cut shares of Amgen from a “buy” rating to a “hold” rating and lifted their target price for the stock from $320.00 to $333.00 in a research report on Monday, October 14th. 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 issued a strong buy rating to the company. According to data from MarketBeat.com, Amgen presently has an average 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.