Dakota Wealth Management Lowers Stock Position in Amgen Inc. (NASDAQ:AMGN)

Dakota Wealth Management lessened its stake in Amgen Inc. (NASDAQ:AMGN) by 0.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,553 shares of the medical research company’s stock after selling 36 shares during the period. Dakota Wealth Management’s holdings in Amgen were worth $14,678,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Keynote Financial Services LLC grew its position in Amgen by 0.6% in the second quarter. Keynote Financial Services LLC now owns 4,898 shares of the medical research company’s stock worth $1,530,000 after acquiring an additional 30 shares in the last quarter. Ascent Group LLC increased its position in shares of Amgen by 0.3% during the 2nd quarter. Ascent Group LLC now owns 10,949 shares of the medical research company’s stock valued at $3,421,000 after purchasing an additional 31 shares during the last quarter. RFP Financial Group LLC raised its holdings in shares of Amgen by 17.1% during the 1st quarter. RFP Financial Group LLC now owns 219 shares of the medical research company’s stock valued at $62,000 after buying an additional 32 shares in the last quarter. Hofer & Associates. Inc lifted its position in Amgen by 0.5% in the 2nd quarter. Hofer & Associates. Inc now owns 6,477 shares of the medical research company’s stock worth $2,024,000 after buying an additional 32 shares during the last quarter. Finally, Cadinha & Co. LLC boosted its stake in Amgen by 0.6% in the third quarter. Cadinha & Co. LLC now owns 5,209 shares of the medical research company’s stock worth $1,678,000 after buying an additional 32 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Analyst Ratings Changes

AMGN has been the topic of several research reports. Wells Fargo & Company lowered shares of Amgen from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $320.00 to $335.00 in a report on Wednesday, August 7th. Truist Financial downgraded shares of Amgen from a “buy” rating to a “hold” rating and boosted their price target for the stock from $320.00 to $333.00 in a research note on Monday, October 14th. Jefferies Financial Group reiterated a “buy” rating and issued a $380.00 price objective (up previously from $375.00) on shares of Amgen in a report on Wednesday, August 7th. TD Cowen boosted their target price on Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a research note on Monday. Finally, Robert W. Baird restated an “underperform” rating and set a $215.00 price target on shares of Amgen in a research report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $332.55.

Amgen Stock Performance

Shares of AMGN opened at $315.69 on Friday. The company has a 50-day simple moving average of $325.77 and a two-hundred day simple moving average of $313.12. The company has a debt-to-equity ratio of 9.64, a current ratio of 1.26 and a quick ratio of 0.89. The firm has a market capitalization of $169.35 billion, a PE ratio of 45.10, a price-to-earnings-growth ratio of 2.86 and a beta of 0.61. Amgen Inc. has a one year low of $249.70 and a one year high of $346.85.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, August 6th. The medical research company reported $4.97 EPS for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). The firm had revenue of $8.39 billion during the quarter, compared to analysts’ expectations of $8.35 billion. Amgen had a net margin of 10.12% and a return on equity of 161.72%. The company’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.00 EPS. On average, analysts anticipate that Amgen Inc. will post 19.49 EPS for the current fiscal year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were given a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date was Friday, August 16th. Amgen’s dividend payout ratio is presently 128.57%.

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.