Amgen Inc. (NASDAQ:AMGN) is Smead Capital Management Inc.’s 6th Largest Position

Smead Capital Management Inc. grew its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 3.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,172,866 shares of the medical research company’s stock after buying an additional 39,559 shares during the period. Amgen accounts for about 5.4% of Smead Capital Management Inc.’s holdings, making the stock its 6th largest holding. Smead Capital Management Inc. owned about 0.22% of Amgen worth $377,909,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Capital Performance Advisors LLP purchased a new stake in shares of Amgen in the 3rd quarter valued at about $25,000. Strategic Financial Concepts LLC purchased a new stake in shares of Amgen in the 2nd quarter valued at about $26,000. Hershey Financial Advisers LLC purchased a new stake in shares of Amgen in the 2nd quarter valued at about $30,000. nVerses Capital LLC purchased a new stake in shares of Amgen in the 2nd quarter valued at about $31,000. Finally, Bbjs Financial Advisors LLC purchased a new stake in shares of Amgen in the 2nd quarter valued at about $33,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Price Performance

AMGN stock opened at $278.76 on Tuesday. Amgen Inc. has a 1 year low of $260.52 and a 1 year high of $346.85. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. The stock’s 50 day moving average price is $319.90 and its 200 day moving average price is $318.65. The firm has a market cap of $149.84 billion, a P/E ratio of 35.69, a PEG ratio of 2.53 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last posted its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The firm had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. During the same quarter in the prior year, the company earned $4.96 EPS. Amgen’s revenue was up 23.2% on a year-over-year basis. On average, sell-side analysts expect that Amgen Inc. will post 19.51 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date is Monday, November 18th. Amgen’s payout ratio is currently 115.24%.

Analysts Set New Price Targets

Several brokerages recently issued reports on AMGN. Truist Financial cut Amgen from a “buy” rating to a “hold” rating and boosted their price target for the company from $320.00 to $333.00 in a research report on Monday, October 14th. Royal Bank of Canada restated an “outperform” rating and issued a $362.00 price target on shares of Amgen in a research report on Thursday, September 26th. William Blair restated an “outperform” rating on shares of Amgen in a research report on Tuesday, November 12th. Bank of America boosted their price target on Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Finally, Sanford C. Bernstein began coverage on Amgen in a research report on Thursday, October 17th. They issued an “outperform” rating and a $380.00 price target on the stock. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $333.57.

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.