Gateway Investment Advisers LLC Has $46.63 Million Holdings in Amgen Inc. (NASDAQ:AMGN)

Gateway Investment Advisers LLC trimmed its position in shares of Amgen Inc. (NASDAQ:AMGN) by 2.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 144,731 shares of the medical research company’s stock after selling 3,964 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Amgen were worth $46,634,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AMGN. Grassi Investment Management acquired a new position in Amgen during the first quarter valued at $2,283,000. Public Employees Retirement System of Ohio lifted its position in shares of Amgen by 1.6% in the fourth quarter. Public Employees Retirement System of Ohio now owns 281,791 shares of the medical research company’s stock worth $81,161,000 after purchasing an additional 4,376 shares in the last quarter. Meyer Handelman Co. boosted its holdings in shares of Amgen by 7.2% during the second quarter. Meyer Handelman Co. now owns 129,831 shares of the medical research company’s stock worth $40,566,000 after purchasing an additional 8,700 shares during the period. Chicago Partners Investment Group LLC grew its position in Amgen by 1.3% during the fourth quarter. Chicago Partners Investment Group LLC now owns 4,543 shares of the medical research company’s stock valued at $1,388,000 after purchasing an additional 57 shares in the last quarter. Finally, Novak & Powell Financial Services Inc. acquired a new position in Amgen in the 4th quarter valued at approximately $803,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on AMGN shares. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $305.00 price target (down from $310.00) on shares of Amgen in a report on Wednesday, August 7th. Morgan Stanley lowered their target price on Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 11th. Cantor Fitzgerald assumed coverage on Amgen in a research note on Friday, September 27th. They set an “overweight” rating and a $405.00 price target for the company. Argus boosted their price target on Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $362.00 price objective on shares of Amgen in a report on Thursday, September 26th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $326.30.

Amgen Stock Performance

Shares of AMGN traded up $7.34 during trading hours on Friday, reaching $328.35. 1,567,233 shares of the company traded hands, compared to its average volume of 2,466,783. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.89 and a current ratio of 1.26. The stock’s fifty day moving average is $326.06 and its 200 day moving average is $310.55. Amgen Inc. has a 1-year low of $249.70 and a 1-year high of $346.85. The stock has a market cap of $176.14 billion, a P/E ratio of 46.91, a price-to-earnings-growth ratio of 2.86 and a beta of 0.61.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, August 6th. The medical research company reported $4.97 EPS for the quarter, missing the consensus estimate of $5.01 by ($0.04). Amgen had a net margin of 10.12% and a return on equity of 161.72%. The firm had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.35 billion. During the same period last year, the company earned $5.00 EPS. The company’s revenue was up 20.1% on a year-over-year basis. Equities research analysts anticipate that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were paid a dividend of $2.25 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $9.00 dividend on an annualized basis and a yield of 2.74%. Amgen’s dividend payout ratio is currently 128.57%.

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.