Amgen Inc. (NASDAQ:AMGN) Shares Sold by Jennison Associates LLC

Jennison Associates LLC trimmed its holdings in Amgen Inc. (NASDAQ:AMGN) by 12.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 579,465 shares of the medical research company’s stock after selling 78,759 shares during the period. Jennison Associates LLC’s holdings in Amgen were worth $186,709,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of AMGN. Capital International Investors grew its stake in shares of Amgen by 547.8% during the 1st quarter. Capital International Investors now owns 7,005,269 shares of the medical research company’s stock valued at $1,991,738,000 after buying an additional 5,923,915 shares during the period. Pathway Financial Advisers LLC increased its stake in Amgen by 33,125.4% during 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 acquiring an additional 4,446,757 shares during the last quarter. International Assets Investment Management LLC increased 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 worth $8,130,610,000 after acquiring an additional 2,486,882 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of Amgen by 137.1% in the 1st quarter. Janus Henderson Group PLC now owns 2,381,133 shares of the medical research company’s stock worth $676,984,000 after purchasing an additional 1,377,007 shares during the period. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Amgen by 561.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,539,733 shares of the medical research company’s stock valued at $496,117,000 after purchasing an additional 1,306,982 shares in the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AMGN has been the topic of several research reports. Cantor Fitzgerald restated an “overweight” rating and issued a $405.00 price target on shares of Amgen in a report on Tuesday, October 22nd. Robert W. Baird reaffirmed an “underperform” rating and set a $215.00 price target on shares of Amgen in a research report on Wednesday, September 25th. StockNews.com upgraded Amgen from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 1st. William Blair reiterated an “outperform” rating on shares of Amgen in a research note on Tuesday, November 12th. Finally, Barclays upped their price target on Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $333.57.

Amgen Stock Performance

Shares of AMGN opened at $279.95 on Wednesday. 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 1 year low of $260.52 and a 1 year high of $346.85. The firm has a fifty day moving average of $318.92 and a 200-day moving average of $318.43. The company has a market cap of $150.48 billion, a price-to-earnings ratio of 35.85, a price-to-earnings-growth ratio of 2.53 and a beta of 0.60.

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

Amgen Dividend Announcement

The business 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. This represents a $9.00 annualized dividend and a yield of 3.21%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s payout ratio is currently 115.24%.

Amgen 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.