Lebenthal Global Advisors LLC Sells 119 Shares of Amgen Inc. (NASDAQ:AMGN)

Lebenthal Global Advisors LLC reduced its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 3.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,452 shares of the medical research company’s stock after selling 119 shares during the quarter. Lebenthal Global Advisors LLC’s holdings in Amgen were worth $1,112,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of AMGN. Capital International Investors lifted its holdings in Amgen by 547.8% in the first 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 period. Pathway Financial Advisers LLC lifted its holdings in shares of Amgen by 33,125.4% during the third quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock valued at $1,437,115,000 after purchasing an additional 4,446,757 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Amgen by 6.2% during the first quarter. Vanguard Group Inc. now owns 52,088,210 shares of the medical research company’s stock valued at $14,809,720,000 after purchasing an additional 3,045,657 shares during the last quarter. International Assets Investment Management LLC raised its holdings in Amgen by 6,812.4% in the 3rd quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock worth $8,130,610,000 after acquiring an additional 2,486,882 shares during the last quarter. Finally, Janus Henderson Group PLC raised its holdings in 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 worth $676,984,000 after acquiring an additional 1,377,007 shares during the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AMGN. UBS Group cut their price objective on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a research report on Thursday. Wells Fargo & Company lowered Amgen from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $320.00 to $335.00 in a research note on Wednesday, August 7th. Bank of America raised their price target on Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Cantor Fitzgerald reissued an “overweight” rating and set a $405.00 price target on shares of Amgen in a research note on Tuesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $305.00 price objective (down from $310.00) on shares of Amgen in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $333.50.

Amgen Price Performance

Shares of AMGN stock traded down $0.71 during midday trading on Friday, reaching $319.45. 168,888 shares of the company traded hands, compared to its average volume of 2,410,270. The firm’s 50 day simple moving average is $324.66 and its two-hundred day simple moving average is $314.82. Amgen Inc. has a 1-year low of $260.52 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 firm has a market cap of $171.65 billion, a PE ratio of 40.99, a price-to-earnings-growth ratio of 2.84 and a beta of 0.61.

Amgen (NASDAQ:AMGN) last released its 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. The firm had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 181.58%. Amgen’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same period in the previous year, the company earned $4.96 EPS. On average, equities research analysts expect that Amgen Inc. will post 19.48 EPS for the current fiscal year.

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s dividend payout ratio is currently 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.