Amgen Inc. (NASDAQ:AMGN) Shares Sold by Fred Alger Management LLC

Fred Alger Management LLC decreased its holdings in Amgen Inc. (NASDAQ:AMGN) by 13.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 280,881 shares of the medical research company’s stock after selling 44,871 shares during the quarter. Fred Alger Management LLC’s holdings in Amgen were worth $90,503,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of AMGN. Keynote Financial Services LLC raised its position in shares of Amgen by 0.6% during the second quarter. Keynote Financial Services LLC now owns 4,898 shares of the medical research company’s stock worth $1,530,000 after purchasing an additional 30 shares during the period. Ascent Group LLC increased its stake in Amgen by 0.3% in the 2nd quarter. Ascent Group LLC now owns 10,949 shares of the medical research company’s stock worth $3,421,000 after purchasing an additional 31 shares in the last quarter. Hofer & Associates. Inc raised its holdings in Amgen by 0.5% during the 2nd quarter. Hofer & Associates. Inc now owns 6,477 shares of the medical research company’s stock worth $2,024,000 after buying an additional 32 shares during the period. Cadinha & Co. LLC raised its holdings in Amgen by 0.6% during the 3rd quarter. Cadinha & Co. LLC now owns 5,209 shares of the medical research company’s stock worth $1,678,000 after buying an additional 32 shares during the period. Finally, Lansing Street Advisors boosted its holdings in shares of Amgen by 1.3% in the third quarter. Lansing Street Advisors now owns 2,582 shares of the medical research company’s stock worth $832,000 after buying an additional 32 shares during the period. Institutional investors own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AMGN. Sanford C. Bernstein began coverage on shares of Amgen in a research report on Thursday, October 17th. They issued an “outperform” rating and a $380.00 price target for the company. Bank of America raised their target price on Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. UBS Group dropped their price target on Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Royal Bank of Canada decreased their price objective on Amgen from $360.00 to $330.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Amgen from $305.00 to $285.00 in a report on Wednesday. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $323.05.

Amgen Trading Up 0.0 %

Shares of NASDAQ:AMGN opened at $280.07 on Friday. Amgen Inc. has a 52-week low of $257.80 and a 52-week 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 company has a market cap of $150.55 billion, a P/E ratio of 35.86, a P/E/G ratio of 2.50 and a beta of 0.60. The stock’s 50-day moving average is $312.46 and its 200-day moving average is $317.31.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping 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 company had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. During the same period in the previous year, the business posted $4.96 EPS. The company’s revenue for the quarter was up 23.2% on a year-over-year basis. Equities research analysts predict that Amgen Inc. will post 19.52 earnings per share for the current year.

Amgen Announces Dividend

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