Applied Finance Capital Management LLC Sells 5,245 Shares of Amgen Inc. (NASDAQ:AMGN)

Applied Finance Capital Management LLC trimmed its position in Amgen Inc. (NASDAQ:AMGN) by 69.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 2,350 shares of the medical research company’s stock after selling 5,245 shares during the period. Applied Finance Capital Management LLC’s holdings in Amgen were worth $757,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of AMGN. Capital Performance Advisors LLP acquired a new stake in Amgen during the 3rd quarter worth about $25,000. Strategic Financial Concepts LLC acquired a new stake in Amgen during the 2nd quarter worth about $26,000. Hershey Financial Advisers LLC acquired a new stake in Amgen during the 2nd quarter worth about $30,000. nVerses Capital LLC acquired a new stake in Amgen during the 2nd quarter worth about $31,000. Finally, Bbjs Financial Advisors LLC acquired a new stake in Amgen during the 2nd quarter worth about $33,000. 76.50% of the stock is currently owned by institutional investors.

Amgen Stock Up 1.0 %

AMGN opened at $325.28 on Friday. The company has a fifty day moving average price of $323.61 and a 200-day moving average price of $317.08. The firm has a market capitalization of $174.85 billion, a P/E ratio of 41.65, a price-to-earnings-growth ratio of 2.79 and a beta of 0.60. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. Amgen Inc. has a one year low of $260.52 and a one year high of $346.85.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The company had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.50 billion. During the same period in the previous year, the firm posted $4.96 EPS. The firm’s revenue was up 23.2% compared to the same quarter last year. Equities research analysts expect that Amgen Inc. will post 19.51 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 18th will be paid a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s dividend payout ratio is presently 115.24%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. 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. Bank of America raised their target price on Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. StockNews.com raised shares of Amgen from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. Dbs Bank raised shares of Amgen to a “strong-buy” rating in a research report on Monday, September 16th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $380.00 price target on shares of Amgen in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Amgen currently has an average rating of “Moderate Buy” and an average target price of $333.50.

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.