Sawgrass Asset Management LLC Sells 11,850 Shares of Amgen Inc. (NASDAQ:AMGN)

Sawgrass Asset Management LLC lowered its stake in Amgen Inc. (NASDAQ:AMGN) by 32.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,093 shares of the medical research company’s stock after selling 11,850 shares during the quarter. Sawgrass Asset Management LLC’s holdings in Amgen were worth $8,085,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new position in Amgen during the third quarter valued at approximately $25,000. Hershey Financial Advisers LLC bought a new position in Amgen in the 2nd quarter worth $30,000. nVerses Capital LLC purchased a new stake in Amgen in the 2nd quarter worth $31,000. Bbjs Financial Advisors LLC bought a new stake in Amgen during the second quarter valued at about $33,000. Finally, Matrix Trust Co purchased a new position in shares of Amgen in the third quarter valued at about $36,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AMGN has been the subject of several research analyst reports. StockNews.com upgraded Amgen from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. TD Cowen lifted their price objective on shares of Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Dbs Bank raised shares of Amgen to a “strong-buy” rating in a research note on Monday, September 16th. Truist Financial cut 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. Finally, Wells Fargo & Company lowered Amgen from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $320.00 to $335.00 in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $333.57.

Amgen Price Performance

AMGN opened at $283.61 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. The business has a fifty day moving average of $320.85 and a 200 day moving average of $318.36. Amgen Inc. has a 52-week low of $260.52 and a 52-week high of $346.85. The stock has a market cap of $152.45 billion, a P/E ratio of 36.31, a PEG ratio of 2.69 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $8.50 billion. During the same period in the prior year, the business posted $4.96 earnings per share. The business’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 19.51 EPS for the current year.

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be paid 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 3.17%. Amgen’s dividend payout ratio (DPR) is currently 115.24%.

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.