Amgen Inc. (NASDAQ:AMGN) Holdings Reduced by Culbertson A N & Co. Inc.

Culbertson A N & Co. Inc. lessened its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 1.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,873 shares of the medical research company’s stock after selling 37 shares during the period. Culbertson A N & Co. Inc.’s holdings in Amgen were worth $603,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in AMGN. Vanguard Group Inc. raised its stake in Amgen by 6.2% during the 1st quarter. Vanguard Group Inc. now owns 52,088,210 shares of the medical research company’s stock valued at $14,809,720,000 after acquiring an additional 3,045,657 shares in the last quarter. Capital International Investors raised its stake in shares of Amgen by 547.8% during the first quarter. Capital International Investors now owns 7,005,269 shares of the medical research company’s stock valued at $1,991,738,000 after purchasing an additional 5,923,915 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Amgen by 6.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,701,631 shares of the medical research company’s stock valued at $844,137,000 after purchasing an additional 162,223 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in Amgen by 137.1% in the first quarter. Janus Henderson Group PLC now owns 2,381,133 shares of the medical research company’s stock worth $676,984,000 after purchasing an additional 1,377,007 shares during the period. Finally, Boston Partners grew its position in Amgen by 27.4% in the 1st quarter. Boston Partners now owns 2,237,334 shares of the medical research company’s stock valued at $635,179,000 after buying an additional 481,214 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Price Performance

AMGN opened at $321.63 on Thursday. The firm has a market capitalization of $172.53 billion, a P/E ratio of 45.95, a PEG ratio of 2.86 and a beta of 0.61. The stock has a fifty day moving average of $326.15 and a 200-day moving average of $311.56. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 9.64. Amgen Inc. has a 12-month low of $249.70 and a 12-month high of $346.85.

Amgen (NASDAQ:AMGN) last announced 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). Amgen had a return on equity of 161.72% and a net margin of 10.12%. The business had revenue of $8.39 billion during the quarter, compared to analysts’ expectations of $8.35 billion. During the same period in the prior year, the company posted $5.00 earnings per share. The firm’s revenue was up 20.1% on a year-over-year basis. Equities analysts forecast that Amgen Inc. will post 19.49 EPS for the current fiscal year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s payout ratio is presently 128.57%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $362.00 price target on shares of Amgen in a research note on Thursday, September 26th. Barclays increased their price target on Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Robert W. Baird reissued an “underperform” rating and issued a $215.00 price objective on shares of Amgen in a research note on Wednesday, September 25th. Jefferies Financial Group restated a “buy” rating and issued a $380.00 price objective (up previously from $375.00) on shares of Amgen in a report on Wednesday, August 7th. Finally, Argus lifted their target price on Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Amgen has an average rating of “Hold” and an average price target of $326.95.

About Amgen

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.