ORG Partners LLC Cuts Holdings in Amgen Inc. (NASDAQ:AMGN)

ORG Partners LLC decreased its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 1.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,934 shares of the medical research company’s stock after selling 163 shares during the quarter. ORG Partners LLC’s holdings in Amgen were worth $2,880,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of AMGN. Capital International Investors boosted its position in shares of Amgen by 547.8% in the 1st quarter. Capital International Investors now owns 7,005,269 shares of the medical research company’s stock valued at $1,991,738,000 after purchasing an additional 5,923,915 shares during the period. Vanguard Group Inc. boosted its position in shares of Amgen by 6.2% in the 1st quarter. Vanguard Group Inc. now owns 52,088,210 shares of the medical research company’s stock valued at $14,809,720,000 after purchasing an additional 3,045,657 shares during the period. Janus Henderson Group PLC boosted its position in shares of Amgen by 137.1% in the 1st quarter. Janus Henderson Group PLC now owns 2,381,133 shares of the medical research company’s stock valued at $676,984,000 after purchasing an additional 1,377,007 shares during the period. Capital Wealth Planning LLC boosted its position in shares of Amgen by 28,684.1% in the 1st quarter. Capital Wealth Planning LLC now owns 833,300 shares of the medical research company’s stock valued at $236,924,000 after purchasing an additional 830,405 shares during the period. Finally, Granite Bay Wealth Management LLC boosted its position in shares of Amgen by 9,058.1% in 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 purchasing an additional 748,200 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

AMGN has been the subject of a number of research analyst reports. Robert W. Baird reissued an “underperform” rating and issued a $215.00 target price on shares of Amgen in a research report on Wednesday, September 25th. Truist Financial cut Amgen from a “buy” rating to a “hold” rating and increased their price objective for the stock from $320.00 to $333.00 in a research report on Monday. Bank of America increased their price objective on Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Cantor Fitzgerald started coverage on Amgen in a research report on Friday, September 27th. They set an “overweight” rating and a $405.00 price objective for the company. Finally, Dbs Bank raised Amgen to a “strong-buy” rating in a research report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $326.95.

Amgen Price Performance

Amgen stock traded down $3.49 during mid-day trading on Monday, hitting $324.86. 275,925 shares of the company were exchanged, compared to its average volume of 2,455,724. The company has a debt-to-equity ratio of 9.64, a current ratio of 1.26 and a quick ratio of 0.89. The business’s 50 day simple moving average is $326.06 and its two-hundred day simple moving average is $310.92. The company has a market capitalization of $174.27 billion, a P/E ratio of 46.91, a PEG ratio of 2.86 and a beta of 0.61. Amgen Inc. has a 12-month low of $249.70 and a 12-month high of $346.85.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share for the quarter, missing the consensus estimate of $5.01 by ($0.04). The company had revenue of $8.39 billion for the quarter, compared to analysts’ expectations of $8.35 billion. Amgen had a return on equity of 161.72% and a net margin of 10.12%. The business’s quarterly revenue was up 20.1% on a year-over-year basis. During the same period in the previous year, the business posted $5.00 EPS. Analysts forecast that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were given a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date was Friday, August 16th. Amgen’s dividend payout ratio is currently 128.57%.

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.