MetLife Investment Management LLC Lowers Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

MetLife Investment Management LLC cut its holdings in Amgen Inc. (NASDAQ:AMGN) by 2.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 158,734 shares of the medical research company’s stock after selling 3,729 shares during the period. MetLife Investment Management LLC’s holdings in Amgen were worth $51,146,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in AMGN. Capital Performance Advisors LLP purchased a new stake in Amgen in the third quarter valued at approximately $25,000. Hershey Financial Advisers LLC purchased a new stake in shares of Amgen during the 2nd quarter valued at $30,000. nVerses Capital LLC purchased a new position in shares of Amgen in the 2nd quarter worth $31,000. Bbjs Financial Advisors LLC acquired a new position in Amgen in the second quarter valued at $33,000. Finally, Matrix Trust Co purchased a new stake in Amgen during the third quarter valued at about $36,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Price Performance

Amgen stock traded down $13.99 during mid-day trading on Wednesday, hitting $280.01. 17,010,332 shares of the company were exchanged, compared to its average volume of 3,139,351. Amgen Inc. has a 1-year low of $257.80 and a 1-year high of $346.85. The company has a market capitalization of $150.51 billion, a PE ratio of 35.85, a price-to-earnings-growth ratio of 2.62 and a beta of 0.60. The business has a fifty day moving average of $314.64 and a 200 day moving average of $317.84. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $8.50 billion. During the same quarter in the previous year, the company posted $4.96 EPS. The business’s revenue for the quarter was up 23.2% compared to the same quarter last year. As a group, sell-side analysts expect that Amgen Inc. will post 19.52 earnings per share for the current year.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 3.21%. The ex-dividend date is Monday, November 18th. Amgen’s dividend payout ratio is 115.24%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on AMGN shares. Royal Bank of Canada reiterated an “outperform” rating and set a $362.00 target price on shares of Amgen in a report on Thursday, September 26th. Dbs Bank raised shares of Amgen to a “strong-buy” rating in a research report on Monday, September 16th. Citigroup initiated coverage on shares of Amgen in a report on Thursday, November 14th. They set a “neutral” rating and a $335.00 target price on the stock. Truist Financial downgraded Amgen from a “buy” rating to a “hold” rating and increased their price target for the company from $320.00 to $333.00 in a report on Monday, October 14th. Finally, Wolfe Research initiated coverage on Amgen in a research note on Friday, November 15th. They issued a “peer perform” rating for the company. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $333.57.

Amgen Company Profile

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.