Moors & Cabot Inc. Cuts Stake in Amgen Inc. (NASDAQ:AMGN)

Moors & Cabot Inc. lowered its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 2.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,449 shares of the medical research company’s stock after selling 426 shares during the period. Moors & Cabot Inc.’s holdings in Amgen were worth $6,589,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Bessemer Group Inc. grew its stake in Amgen by 29.3% during the 1st quarter. Bessemer Group Inc. now owns 37,202 shares of the medical research company’s stock valued at $10,578,000 after acquiring an additional 8,441 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its stake in Amgen by 2.7% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 49,931 shares of the medical research company’s stock valued at $14,241,000 after acquiring an additional 1,311 shares in the last quarter. LGT Group Foundation grew its stake in Amgen by 5.7% during the 1st quarter. LGT Group Foundation now owns 6,320 shares of the medical research company’s stock valued at $1,797,000 after acquiring an additional 341 shares in the last quarter. Delap Wealth Advisory LLC purchased a new stake in Amgen during the 1st quarter valued at about $335,000. Finally, CreativeOne Wealth LLC grew its stake in shares of Amgen by 131.7% in the 1st quarter. CreativeOne Wealth LLC now owns 11,698 shares of the medical research company’s stock valued at $3,326,000 after buying an additional 6,650 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

Shares of AMGN stock traded down $0.19 during mid-day trading on Wednesday, hitting $279.76. The stock had a trading volume of 1,214,692 shares, compared to its average volume of 2,454,860. Amgen Inc. has a fifty-two week low of $260.52 and a fifty-two week high of $346.85. The firm has a market cap of $150.38 billion, a PE ratio of 35.85, a PEG ratio of 2.53 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. The company’s 50-day simple moving average is $318.92 and its 200-day simple moving average is $318.43.

Amgen (NASDAQ:AMGN) last released its earnings results on Wednesday, October 30th. The medical research company reported $5.58 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 company had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. During the same quarter last year, the business earned $4.96 EPS. The business’s revenue was up 23.2% on a year-over-year basis. Sell-side 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 paid a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 3.22%. The ex-dividend date is Monday, November 18th. Amgen’s dividend payout ratio (DPR) is 115.24%.

Analyst Ratings Changes

Several research firms have recently weighed in on AMGN. Robert W. Baird reissued an “underperform” rating and issued a $215.00 price target on shares of Amgen in a research note on Wednesday, September 25th. Barclays upped their price objective on shares of Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Jefferies Financial Group restated a “buy” rating and issued a $380.00 price objective on shares of Amgen in a report on Tuesday, November 12th. Royal Bank of Canada restated an “outperform” rating and issued a $362.00 price objective on shares of Amgen in a report on Thursday, September 26th. Finally, StockNews.com upgraded shares of Amgen from a “buy” rating to a “strong-buy” rating in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $333.57.

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.