Amgen Inc. $AMGN Holdings Raised by Cullinan Associates Inc.

Cullinan Associates Inc. increased its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 5.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 25,561 shares of the medical research company’s stock after buying an additional 1,273 shares during the quarter. Cullinan Associates Inc.’s holdings in Amgen were worth $10,774,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Wellington Altus USA Inc. lifted its position in shares of Amgen by 72.3% during the 2nd quarter. Wellington Altus USA Inc. now owns 81 shares of the medical research company’s stock valued at $28,000 after acquiring an additional 34 shares during the period. Quest 10 Wealth Builders Inc. grew its holdings in shares of Amgen by 220.0% during the 3rd quarter. Quest 10 Wealth Builders Inc. now owns 80 shares of the medical research company’s stock worth $34,000 after purchasing an additional 55 shares in the last quarter. Nvwm LLC grew its holdings in shares of Amgen by 412.5% during the 3rd quarter. Nvwm LLC now owns 82 shares of the medical research company’s stock worth $35,000 after purchasing an additional 66 shares in the last quarter. Security National Bank of Sioux City Iowa IA acquired a new stake in shares of Amgen during the 2nd quarter worth $36,000. Finally, PFS Partners LLC increased its position in shares of Amgen by 95.5% in the third quarter. PFS Partners LLC now owns 86 shares of the medical research company’s stock worth $36,000 after purchasing an additional 42 shares during the period. Institutional investors own 76.50% of the company’s stock.

Key Amgen News

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Amgen reported quarterly earnings and revenue above expectations, with revenue up 8.5% year over year. Its earnings-call discussion also emphasized growth and pipeline momentum, supporting the case for continued expansion. Amgen Earnings Call Highlights Growth, Pipeline Momentum
• Positive Sentiment: A large real-world study found Repatha lowered heart-attack risk by 20% versus ezetimibe in patients with heart disease. The findings could strengthen the drug’s clinical and commercial position. Repatha real-world study
• Positive Sentiment: Scotiabank reiterated a Buy view and set a $530 price target; UBS also maintains a Buy rating with a $530 target. Separately, ETFs bought a net $79.8 million of AMGN shares in Wednesday’s session. Scotiabank price target ETF holdings
• Neutral Sentiment: Analyst opinions remain divided: Leerink Partners and Guggenheim have Hold/neutral ratings, while Scotiabank and UBS are more optimistic. The differing views suggest debate about how much of Amgen’s recent gains are already reflected in its valuation. Leerink Partners rating
• Negative Sentiment: Freedom Broker downgraded Amgen to Hold, adding to the cautious analyst commentary and potentially tempering enthusiasm after the recent rally. Freedom Broker downgrade

Wall Street Analyst Weigh In

A number of research firms recently commented on AMGN. Scotiabank boosted their price target on Amgen from $500.00 to $530.00 and gave the company a “sector outperform” rating in a research note on Wednesday. Bank of America increased their price objective on shares of Amgen from $312.00 to $317.00 and gave the stock an “underperform” rating in a research note on Wednesday, August 5th. Freedom Broker downgraded shares of Amgen from a “buy” rating to a “hold” rating and increased their price objective for the stock from $450.00 to $470.00 in a research note on Friday. UBS Group raised their target price on shares of Amgen from $470.00 to $530.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Citigroup boosted their target price on shares of Amgen from $405.00 to $465.00 and gave the company a “neutral” rating in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, eighteen have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $420.80.

Insider Buying and Selling

In other news, SVP Rachna Khosla sold 2,000 shares of the stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $412.57, for a total value of $825,140.00. Following the completion of the transaction, the senior vice president owned 6,404 shares of the company’s stock, valued at approximately $2,642,098.28. This represents a 23.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.85% of the company’s stock.

Amgen Trading Up 0.0%

Shares of AMGN opened at $460.42 on Friday. Amgen Inc. has a 52-week low of $312.39 and a 52-week high of $483.99. The business’s fifty day moving average is $422.43 and its 200-day moving average is $378.19. The company has a debt-to-equity ratio of 3.60, a quick ratio of 1.13 and a current ratio of 1.48. The firm has a market cap of $249.05 billion, a price-to-earnings ratio of 26.71, a PEG ratio of 3.21 and a beta of 0.43.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, November 3rd. The medical research company reported $6.45 earnings per share for the quarter, topping the consensus estimate of $5.79 by $0.66. Amgen had a return on equity of 114.99% and a net margin of 24.14%. The business had revenue of $10.37 billion during the quarter, compared to the consensus estimate of $10.07 billion. During the same period in the prior year, the company earned $5.64 EPS. Amgen’s revenue for the quarter was up 8.5% on a year-over-year basis. Equities analysts anticipate that Amgen Inc. will post 23.33 EPS for the current fiscal year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 11th. Shareholders of record on Friday, November 20th will be paid a dividend of $2.52 per share. The ex-dividend date of this dividend is Friday, November 20th. This represents a $10.08 annualized dividend and a yield of 2.2%. Amgen’s payout ratio is presently 58.47%.

Amgen Profile

Amgen is a biotechnology company that discovers, develops, manufactures and commercializes medicines for serious illnesses. Its research and product portfolio span areas including cancer, cardiovascular disease, inflammation, bone health and rare diseases.

The company’s medicines include Enbrel, Prolia, Xgeva and Repatha. Amgen serves patients and healthcare providers in the United States and markets its products internationally.

Founded in 1980 and headquartered in Thousand Oaks, California, Amgen is led by Robert A.