Amgen, Inc. (AMGN) Shares Sold by Westpac Banking Corp

Westpac Banking Corp lowered its stake in shares of Amgen, Inc. (NASDAQ:AMGN) by 2.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 91,510 shares of the medical research company’s stock after selling 2,326 shares during the period. Westpac Banking Corp’s holdings in Amgen were worth $18,969,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Pillar Pacific Capital Management LLC grew its stake in Amgen by 0.5% in the 2nd quarter. Pillar Pacific Capital Management LLC now owns 56,671 shares of the medical research company’s stock valued at $10,461,000 after buying an additional 254 shares in the last quarter. Murphy Capital Management Inc. boosted its holdings in Amgen by 2.3% in the 3rd quarter. Murphy Capital Management Inc. now owns 11,285 shares of the medical research company’s stock valued at $2,339,000 after purchasing an additional 254 shares during the period. Fairfield Bush & CO. boosted its holdings in Amgen by 0.8% in the 2nd quarter. Fairfield Bush & CO. now owns 33,934 shares of the medical research company’s stock valued at $6,264,000 after purchasing an additional 260 shares during the period. Advisors Capital Management LLC boosted its holdings in Amgen by 5.8% in the 2nd quarter. Advisors Capital Management LLC now owns 4,737 shares of the medical research company’s stock valued at $874,000 after purchasing an additional 261 shares during the period. Finally, Mutual Advisors LLC boosted its holdings in Amgen by 5.8% in the 2nd quarter. Mutual Advisors LLC now owns 4,814 shares of the medical research company’s stock valued at $889,000 after purchasing an additional 265 shares during the period. Institutional investors own 76.94% of the company’s stock.

Several research analysts have commented on the stock. Royal Bank of Canada reissued a “neutral” rating and issued a $193.00 price target on shares of Amgen in a report on Monday, September 10th. Jefferies Financial Group reissued a “buy” rating and issued a $220.00 price target on shares of Amgen in a report on Monday, October 1st. Oppenheimer reissued a “buy” rating and issued a $224.00 price target on shares of Amgen in a report on Tuesday, August 28th. Wells Fargo & Co reissued a “neutral” rating and issued a $197.00 price target on shares of Amgen in a report on Wednesday, August 29th. Finally, Citigroup raised their price target on shares of Amgen from $200.00 to $204.00 and gave the company a “neutral” rating in a report on Thursday, November 1st. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $204.55.

Amgen stock opened at $208.25 on Monday. The company has a quick ratio of 2.84, a current ratio of 3.08 and a debt-to-equity ratio of 2.05. The firm has a market capitalization of $132.70 billion, a price-to-earnings ratio of 16.55, a price-to-earnings-growth ratio of 2.16 and a beta of 1.41. Amgen, Inc. has a twelve month low of $163.31 and a twelve month high of $210.19.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, October 30th. The medical research company reported $3.69 earnings per share for the quarter, topping the consensus estimate of $3.45 by $0.24. The business had revenue of $5.90 billion during the quarter, compared to the consensus estimate of $5.78 billion. Amgen had a net margin of 9.44% and a return on equity of 54.14%. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the previous year, the firm posted $3.27 earnings per share. On average, equities analysts anticipate that Amgen, Inc. will post 14.24 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 7th. Shareholders of record on Friday, November 16th will be paid a $1.32 dividend. This represents a $5.28 annualized dividend and a yield of 2.54%. The ex-dividend date of this dividend is Thursday, November 15th. Amgen’s dividend payout ratio is presently 41.97%.

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About Amgen

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, nephrology, and neuroscience. The company's products include Evenity to treat osteoporosis in postmenopausal women; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Repatha to treat coronary diseases; Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Parsabiv to treat secondary hyperparathyroidism (sHPT); and Aimovig for the prevention of migraine.

Further Reading: Derivative

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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