KCM Investment Advisors LLC Sells 651 Shares of Amgen Inc. (NASDAQ:AMGN)

KCM Investment Advisors LLC cut its holdings in Amgen Inc. (NASDAQ:AMGN) by 0.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 91,442 shares of the medical research company’s stock after selling 651 shares during the period. KCM Investment Advisors LLC’s holdings in Amgen were worth $29,464,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new stake in shares of Amgen during the 3rd quarter worth approximately $25,000. Hershey Financial Advisers LLC purchased a new stake in shares of Amgen during the 2nd quarter worth approximately $30,000. nVerses Capital LLC purchased a new stake in shares of Amgen during the 2nd quarter worth approximately $31,000. Bbjs Financial Advisors LLC purchased a new stake in shares of Amgen during the 2nd quarter worth approximately $33,000. Finally, Matrix Trust Co bought a new position in shares of Amgen during the 3rd quarter valued at approximately $36,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on AMGN shares. Wolfe Research started coverage on Amgen in a research report on Friday. They set a “peer perform” rating on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $405.00 price objective on shares of Amgen in a research report on Tuesday, October 22nd. Bank of America upped their price objective on Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. TD Cowen upped their price objective on Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Finally, UBS Group dropped their price target on Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Amgen has an average rating of “Moderate Buy” and an average price target of $333.57.

Amgen Stock Down 4.1 %

Shares of NASDAQ:AMGN traded down $12.28 on Friday, hitting $283.65. 964,966 shares of the company’s stock were exchanged, compared to its average volume of 2,434,156. The firm’s 50-day moving average is $321.59 and its 200 day moving average is $318.00. The company has a market capitalization of $152.47 billion, a PE ratio of 36.44, a P/E/G ratio of 2.69 and a beta of 0.60. 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 7.55, a quick ratio of 0.96 and a current ratio of 1.32.

Amgen (NASDAQ:AMGN) last posted its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, beating the consensus estimate of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The business 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 business earned $4.96 EPS. The business’s quarterly revenue was up 23.2% on a year-over-year basis. Sell-side analysts predict that Amgen Inc. will post 19.51 EPS for the current year.

Amgen Dividend Announcement

The firm 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. This represents a $9.00 annualized dividend and a yield of 3.17%. The ex-dividend date is Monday, November 18th. Amgen’s payout ratio is 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.