Martingale Asset Management L P Reduces Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Martingale Asset Management L P lowered its position in Amgen Inc. (NASDAQ:AMGN) by 16.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 77,351 shares of the medical research company’s stock after selling 15,377 shares during the quarter. Martingale Asset Management L P’s holdings in Amgen were worth $24,923,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Meyer Handelman Co. increased its position in shares of Amgen by 7.2% in the second quarter. Meyer Handelman Co. now owns 129,831 shares of the medical research company’s stock valued at $40,566,000 after buying an additional 8,700 shares in the last quarter. First Horizon Advisors Inc. increased its position in Amgen by 3.2% during the 3rd quarter. First Horizon Advisors Inc. now owns 60,769 shares of the medical research company’s stock worth $19,581,000 after purchasing an additional 1,872 shares in the last quarter. Swiss National Bank increased its position in Amgen by 0.3% during the 3rd quarter. Swiss National Bank now owns 1,592,233 shares of the medical research company’s stock worth $513,033,000 after purchasing an additional 5,500 shares in the last quarter. Napa Wealth Management purchased a new stake in Amgen during the 3rd quarter worth about $1,104,000. Finally, Summit Trail Advisors LLC increased its position in Amgen by 40.1% during the 3rd quarter. Summit Trail Advisors LLC now owns 7,552 shares of the medical research company’s stock worth $2,433,000 after purchasing an additional 2,163 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

AMGN has been the subject of a number of recent research reports. Bank of America lifted their price objective on Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Barclays raised their price target on Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Jefferies Financial Group reissued a “buy” rating and issued a $380.00 price target on shares of Amgen in a research note on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft decreased their price target on Amgen from $305.00 to $285.00 in a research note on Wednesday. Finally, Leerink Partners decreased their price target on Amgen from $349.00 to $302.00 in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Amgen presently has an average rating of “Hold” and an average price target of $323.05.

Amgen Trading Up 0.0 %

Shares of AMGN stock opened at $280.07 on Friday. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. Amgen Inc. has a 1 year low of $257.80 and a 1 year high of $346.85. The stock has a fifty day moving average of $312.46 and a two-hundred day moving average of $317.31. The firm has a market capitalization of $150.55 billion, a PE ratio of 35.86, a price-to-earnings-growth ratio of 2.62 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, beating the consensus estimate of $5.11 by $0.47. The business had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The company’s revenue was up 23.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.96 earnings per share. As a group, research analysts expect that Amgen Inc. will post 19.52 EPS for the current year.

Amgen Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s dividend payout ratio (DPR) is presently 115.24%.

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.