Foster & Motley Inc. Sells 1,302 Shares of Amgen Inc. (NASDAQ:AMGN)

Foster & Motley Inc. lessened its position in shares of Amgen Inc. (NASDAQ:AMGN) by 3.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,235 shares of the medical research company’s stock after selling 1,302 shares during the period. Foster & Motley Inc.’s holdings in Amgen were worth $11,353,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in AMGN. Hershey Financial Advisers LLC purchased a new stake in Amgen during the 2nd quarter worth about $30,000. nVerses Capital LLC purchased a new stake in shares of Amgen in the 2nd quarter valued at about $31,000. Bbjs Financial Advisors LLC bought a new position in shares of Amgen during the 2nd quarter valued at about $33,000. Matrix Trust Co bought a new position in shares of Amgen during the 3rd quarter valued at about $36,000. Finally, FSA Wealth Management LLC increased its position in shares of Amgen by 182.0% during the 1st quarter. FSA Wealth Management LLC now owns 141 shares of the medical research company’s stock valued at $40,000 after purchasing an additional 91 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Trading Up 0.8 %

Shares of NASDAQ AMGN opened at $319.29 on Wednesday. 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 business’s 50 day moving average price is $324.12 and its 200-day moving average price is $316.64. Amgen Inc. has a fifty-two week low of $260.52 and a fifty-two week high of $346.85. The company has a market cap of $171.56 billion, a price-to-earnings ratio of 40.88, a PEG ratio of 2.81 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, topping the consensus estimate of $5.11 by $0.47. The firm had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The company’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same period in the prior year, the business posted $4.96 earnings per share. On average, sell-side analysts expect that Amgen Inc. will post 19.49 earnings per share for the current year.

Amgen Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 18th will be given a dividend of $2.25 per share. The ex-dividend date is Monday, November 18th. This represents a $9.00 annualized dividend and a yield of 2.82%. Amgen’s dividend payout ratio (DPR) is presently 115.24%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on AMGN shares. 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 report on Wednesday, August 7th. Dbs Bank upgraded Amgen to a “strong-buy” rating in a report on Monday, September 16th. Jefferies Financial Group restated a “buy” rating and issued a $380.00 target price (up previously from $375.00) on shares of Amgen in a research note on Wednesday, August 7th. Robert W. Baird restated an “underperform” rating and issued a $215.00 target price on shares of Amgen in a research note on Wednesday, September 25th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $405.00 price objective on shares of Amgen in a research note on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $333.50.

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.