Cadence Bank Decreases Stake in Amgen Inc. (NASDAQ:AMGN)

Cadence Bank cut its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 3.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,503 shares of the medical research company’s stock after selling 223 shares during the period. Cadence Bank’s holdings in Amgen were worth $1,773,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of AMGN. Pathway Financial Advisers LLC boosted its stake in shares of Amgen by 33,125.4% in the 3rd 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 during the last quarter. International Assets Investment Management LLC increased its holdings 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 buying an additional 2,486,882 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Amgen by 561.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,539,733 shares of the medical research company’s stock worth $496,117,000 after acquiring an additional 1,306,982 shares during the last quarter. Granite Bay Wealth Management LLC grew its position in shares of Amgen by 9,058.1% during the 2nd quarter. Granite Bay Wealth Management LLC now owns 756,460 shares of the medical research company’s stock valued at $223,897,000 after acquiring an additional 748,200 shares during the period. Finally, Swedbank AB purchased a new stake in shares of Amgen in the 1st quarter worth $151,977,000. 76.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on AMGN. Citigroup initiated coverage on Amgen in a report on Thursday, November 14th. They set a “neutral” rating and a $335.00 price target for the company. Oppenheimer restated an “outperform” rating and set a $380.00 target price on shares of Amgen in a research note on Wednesday, August 7th. Jefferies Financial Group reissued a “buy” rating and issued a $380.00 price objective on shares of Amgen in a research note on Tuesday, November 12th. Wolfe Research assumed coverage on shares of Amgen in a research note on Friday, November 15th. They set a “peer perform” rating on the stock. Finally, Truist Financial lowered Amgen from a “buy” rating to a “hold” rating and increased their price target for the stock from $320.00 to $333.00 in a research note 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’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $333.57.

Amgen Trading Down 4.8 %

AMGN stock opened at $280.01 on Wednesday. Amgen Inc. has a twelve month low of $257.80 and a twelve month high of $346.85. The stock has a market capitalization of $150.51 billion, a price-to-earnings ratio of 35.85, a price-to-earnings-growth ratio of 2.63 and a beta of 0.60. 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 firm’s fifty day simple moving average is $314.64 and its two-hundred day simple moving average is $317.84.

Amgen (NASDAQ:AMGN) last announced 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 net margin of 13.00% and a return on equity of 168.35%. The business had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.50 billion. During the same quarter last year, the firm earned $4.96 earnings per share. The firm’s quarterly revenue was up 23.2% compared to the same quarter last year. As a group, analysts anticipate that Amgen Inc. will post 19.52 earnings per share for the current year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date is Monday, November 18th. Amgen’s payout ratio is presently 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.