Amgen Inc. $AMGN Stake Reduced by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. reduced its position in Amgen Inc. (NASDAQ:AMGN) by 38.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 148,545 shares of the medical research company’s stock after selling 91,234 shares during the quarter. Amgen makes up about 0.5% of Jefferies Financial Group Inc.’s portfolio, making the stock its 22nd largest position. Jefferies Financial Group Inc.’s holdings in Amgen were worth $62,613,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of AMGN. Illinois Municipal Retirement Fund lifted its holdings in shares of Amgen by 3.8% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 60,996 shares of the medical research company’s stock worth $25,710,000 after purchasing an additional 2,230 shares in the last quarter. Confluence Wealth Services Inc. grew its position in Amgen by 7.8% in the 3rd quarter. Confluence Wealth Services Inc. now owns 18,976 shares of the medical research company’s stock valued at $7,998,000 after purchasing an additional 1,376 shares during the period. Moneco Advisors LLC grew its position in Amgen by 5.5% in the 3rd quarter. Moneco Advisors LLC now owns 4,643 shares of the medical research company’s stock valued at $1,957,000 after purchasing an additional 242 shares during the period. Mesirow Financial Investment Management Inc. increased its stake in Amgen by 2.3% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 14,846 shares of the medical research company’s stock valued at $6,258,000 after purchasing an additional 328 shares in the last quarter. Finally, Woodley Farra Manion Portfolio Management Inc. increased its stake in Amgen by 4.1% during the 3rd quarter. Woodley Farra Manion Portfolio Management Inc. now owns 15,509 shares of the medical research company’s stock valued at $6,537,000 after purchasing an additional 613 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Price Performance

Shares of NASDAQ:AMGN opened at $468.11 on Thursday. The company has a market capitalization of $253.21 billion, a P/E ratio of 27.15, a price-to-earnings-growth ratio of 3.25 and a beta of 0.43. The company’s 50-day moving average is $424.39 and its 200 day moving average is $380.01. The company has a debt-to-equity ratio of 3.60, a quick ratio of 1.20 and a current ratio of 1.48. Amgen Inc. has a fifty-two week low of $312.39 and a fifty-two week high of $483.99.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, November 3rd. The medical research company reported $6.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 last year, the business posted $5.64 earnings per share. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. On average, equities research analysts forecast that Amgen Inc. will post 23.33 earnings per share for the current year.

Amgen Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts have weighed in on AMGN shares. Oppenheimer reaffirmed an “outperform” rating on shares of Amgen in a research note on Friday, October 23rd. Piper Sandler boosted their target price on shares of Amgen from $427.00 to $457.00 and gave the stock an “overweight” rating in a research report on Thursday, August 20th. Canaccord Genuity Group upped their target price on shares of Amgen from $384.00 to $440.00 and gave the stock a “hold” rating in a report on Wednesday, November 4th. Wells Fargo & Company raised their price target on shares of Amgen from $430.00 to $460.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 4th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $410.00 price target on shares of Amgen in a research note on Wednesday, September 23rd. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eighteen have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $422.76.

Latest Amgen News

Here’s some of the latest news about AMGN:

• Positive Sentiment: Dazodalibep met the primary endpoint in the 648-patient OASIZ-301 trial, with both dosing regimens producing statistically significant reductions in systemic disease activity versus placebo over 48 weeks. Amgen also reported clinically meaningful improvements in patient-reported symptoms, potentially positioning the drug in a disease area with no approved treatments. Reuters article
• Neutral Sentiment: The positive data may improve dazodalibep’s commercial prospects, but it remains investigational; further development and regulatory review are needed before it can generate sales. Amgen announcement
• Negative Sentiment: Despite the encouraging results, some coverage reported that Amgen shares slipped, indicating investors may be taking a cautious or “sell-the-news” approach rather than immediately pricing in the drug’s longer-term potential. MSN article

Amgen Company 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. Bradway, who has served as its chief executive officer since 2012.