Ferguson Wellman Capital Management Inc. Sells 167 Shares of Amgen Inc. (NASDAQ:AMGN)

Ferguson Wellman Capital Management Inc. decreased its position in shares of Amgen Inc. (NASDAQ:AMGN) by 0.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,917 shares of the medical research company’s stock after selling 167 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in Amgen were worth $6,417,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Meyer Handelman Co. boosted its position in Amgen by 7.2% during the second quarter. Meyer Handelman Co. now owns 129,831 shares of the medical research company’s stock valued at $40,566,000 after purchasing an additional 8,700 shares in the last quarter. EP Wealth Advisors LLC boosted its stake in Amgen by 11.0% in the first quarter. EP Wealth Advisors LLC now owns 23,769 shares of the medical research company’s stock valued at $6,758,000 after acquiring an additional 2,353 shares in the last quarter. Cornerstone Capital Inc. increased its position in shares of Amgen by 3.2% during the third quarter. Cornerstone Capital Inc. now owns 106,538 shares of the medical research company’s stock worth $34,328,000 after purchasing an additional 3,260 shares in the last quarter. Stanley Laman Group Ltd. purchased a new position in Amgen during the 2nd quarter worth $3,354,000. Finally, Verity & Verity LLC increased its position in Amgen by 2.7% during the 2nd quarter. Verity & Verity LLC now owns 82,368 shares of the medical research company’s stock valued at $25,736,000 after buying an additional 2,182 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on AMGN. Royal Bank of Canada reissued an “outperform” rating and set a $362.00 target price on shares of Amgen in a research report on Thursday, September 26th. Barclays lifted their price target on Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. UBS Group reduced their price objective on Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Truist Financial downgraded shares of Amgen from a “buy” rating to a “hold” rating and boosted their target price for the company from $320.00 to $333.00 in a research report on Monday, October 14th. Finally, TD Cowen increased their price target on shares of Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a report on Monday, October 21st. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $333.57.

Amgen Stock Down 2.2 %

Shares of AMGN traded down $6.64 during mid-day trading on Thursday, reaching $294.80. The company’s stock had a trading volume of 169,309 shares, compared to its average volume of 2,425,662. The company’s 50 day moving average is $322.15 and its 200 day moving average is $318.15. The stock has a market cap of $158.46 billion, a PE ratio of 38.60, a price-to-earnings-growth ratio of 2.67 and a beta of 0.60. Amgen Inc. has a 12-month low of $260.52 and a 12-month high of $346.85. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96.

Amgen (NASDAQ:AMGN) last posted its earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, beating 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 the consensus estimate of $8.50 billion. During the same period last year, the firm posted $4.96 EPS. The company’s revenue was up 23.2% on a year-over-year basis. Equities analysts anticipate that Amgen Inc. will post 19.51 EPS for the current fiscal year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be paid a dividend of $2.25 per share. The ex-dividend date is Monday, November 18th. This represents a $9.00 annualized dividend and a dividend yield of 3.05%. Amgen’s dividend payout ratio (DPR) is 115.24%.

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.