Factory Mutual Insurance Co. Has $30.87 Million Stake in Amgen Inc. (NASDAQ:AMGN)

Factory Mutual Insurance Co. reduced its holdings in Amgen Inc. (NASDAQ:AMGN) by 1.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,800 shares of the medical research company’s stock after selling 1,600 shares during the quarter. Factory Mutual Insurance Co.’s holdings in Amgen were worth $30,868,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of AMGN. Strategic Financial Concepts LLC bought a new stake in shares of Amgen during the second quarter worth $26,000. Hershey Financial Advisers LLC bought a new stake in Amgen during the 2nd quarter worth about $30,000. nVerses Capital LLC bought a new position in Amgen in the 2nd quarter worth approximately $31,000. Bbjs Financial Advisors LLC bought a new position in Amgen in the 2nd quarter valued at $33,000. Finally, Matrix Trust Co acquired a new stake in shares of Amgen in the 3rd quarter valued at $36,000. 76.50% of the stock is currently owned by institutional investors.

Amgen Stock Up 2.3 %

NASDAQ AMGN traded up $7.34 on Friday, reaching $328.35. The company had a trading volume of 1,567,233 shares, compared to its average volume of 2,466,783. The company’s fifty day moving average is $326.06 and its 200-day moving average is $310.75. Amgen Inc. has a 1-year low of $249.70 and a 1-year high of $346.85. The firm has a market capitalization of $176.14 billion, a price-to-earnings ratio of 46.91, a price-to-earnings-growth ratio of 2.86 and a beta of 0.61. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.89 and a current ratio of 1.26.

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

Amgen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were given a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s dividend payout ratio is presently 128.57%.

Analyst Upgrades and Downgrades

AMGN has been the topic of several research reports. Morgan Stanley cut their price target on Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 11th. Cantor Fitzgerald assumed coverage on shares of Amgen in a research note on Friday, September 27th. They issued an “overweight” rating and a $405.00 target price on the stock. Argus boosted their price target on shares of Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. TD Cowen increased their price objective on shares of Amgen from $360.00 to $381.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $305.00 target price (down previously from $310.00) on shares of Amgen in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $326.30.

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.