Amgen Inc. (NASDAQ:AMGN) Shares Sold by Asset Dedication LLC

Asset Dedication LLC lessened its holdings in Amgen Inc. (NASDAQ:AMGN) by 11.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,953 shares of the medical research company’s stock after selling 2,138 shares during the quarter. Asset Dedication LLC’s holdings in Amgen were worth $5,462,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Amgen by 6.2% during the 1st quarter. Vanguard Group Inc. now owns 52,088,210 shares of the medical research company’s stock worth $14,809,720,000 after acquiring an additional 3,045,657 shares in the last quarter. Capital International Investors lifted its position in shares of Amgen by 547.8% during the 1st quarter. Capital International Investors now owns 7,005,269 shares of the medical research company’s stock worth $1,991,738,000 after buying an additional 5,923,915 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Amgen by 6.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,701,631 shares of the medical research company’s stock valued at $844,137,000 after buying an additional 162,223 shares in the last quarter. Janus Henderson Group PLC grew 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 buying an additional 1,377,007 shares during the last quarter. Finally, Boston Partners raised its stake in Amgen by 27.4% during the 1st quarter. Boston Partners now owns 2,237,334 shares of the medical research company’s stock worth $635,179,000 after acquiring an additional 481,214 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Jefferies Financial Group reaffirmed a “buy” rating and set a $380.00 price objective (up previously from $375.00) on shares of Amgen in a report on Wednesday, August 7th. Barclays boosted their price objective on Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Morgan Stanley lowered their target price on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 11th. Argus lifted their target price on shares of Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Finally, Robert W. Baird reissued an “underperform” rating and set a $215.00 price objective on shares of Amgen in a research report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $326.95.

Amgen Trading Up 0.1 %

Shares of Amgen stock opened at $325.09 on Wednesday. Amgen Inc. has a 1 year low of $249.70 and a 1 year high of $346.85. 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 has a 50 day moving average price of $325.97 and a 200 day moving average price of $311.49. The company has a market capitalization of $174.39 billion, a P/E ratio of 46.44, a P/E/G ratio of 2.86 and a beta of 0.61.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.01 by ($0.04). The company had revenue of $8.39 billion during the quarter, compared to analysts’ expectations of $8.35 billion. Amgen had a net margin of 10.12% and a return on equity of 161.72%. The firm’s revenue was up 20.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.00 earnings per share. Sell-side analysts anticipate that Amgen Inc. will post 19.49 EPS for the current fiscal year.

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were paid a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.77%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s payout ratio is 128.57%.

Amgen 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.