Corundum Group Inc. Sells 2,147 Shares of Amgen Inc. (NASDAQ:AMGN)

Corundum Group Inc. lessened its holdings in Amgen Inc. (NASDAQ:AMGN) by 52.2% during the third quarter, HoldingsChannel reports. The firm owned 1,966 shares of the medical research company’s stock after selling 2,147 shares during the quarter. Corundum Group Inc.’s holdings in Amgen were worth $633,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Penn Davis Mcfarland Inc. boosted its stake in shares of Amgen by 1,176.7% in the 3rd quarter. Penn Davis Mcfarland Inc. now owns 19,150 shares of the medical research company’s stock valued at $6,170,000 after purchasing an additional 17,650 shares in the last quarter. Brown Lisle Cummings Inc. increased its holdings in shares of Amgen by 2.2% during the third quarter. Brown Lisle Cummings Inc. now owns 22,692 shares of the medical research company’s stock worth $7,312,000 after buying an additional 485 shares in the last quarter. McClarren Financial Advisors Inc. lifted its stake in shares of Amgen by 98.1% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 618 shares of the medical research company’s stock valued at $199,000 after acquiring an additional 306 shares during the last quarter. Cannon Financial Strategists Inc. increased its holdings in Amgen by 6.6% in the 3rd quarter. Cannon Financial Strategists Inc. now owns 1,200 shares of the medical research company’s stock worth $387,000 after purchasing an additional 74 shares in the last quarter. Finally, Vest Financial LLC boosted its stake in shares of Amgen by 2.9% during the third quarter. Vest Financial LLC now owns 6,973 shares of the medical research company’s stock valued at $2,247,000 after purchasing an additional 199 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Trading Up 0.1 %

NASDAQ AMGN opened at $321.66 on Monday. Amgen Inc. has a twelve month low of $249.70 and a twelve month high of $346.85. The firm has a market capitalization of $172.55 billion, a PE ratio of 45.95, a P/E/G ratio of 2.86 and a beta of 0.61. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 9.64. The stock’s 50 day moving average is $326.07 and its 200 day moving average is $312.41.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, August 6th. The medical research company reported $4.97 EPS for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). The company had revenue of $8.39 billion during the quarter, compared to analysts’ expectations of $8.35 billion. Amgen had a return on equity of 161.72% and a net margin of 10.12%. The company’s revenue was up 20.1% on a year-over-year basis. During the same period in the prior year, the company posted $5.00 earnings per share. Research analysts forecast 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. Stockholders of record on Friday, August 16th were paid a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.80%. The ex-dividend date was Friday, August 16th. Amgen’s dividend payout ratio is currently 128.57%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on AMGN shares. Wells Fargo & Company downgraded shares of Amgen from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $320.00 to $335.00 in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $305.00 price target (down previously from $310.00) on shares of Amgen in a research note on Wednesday, August 7th. Oppenheimer reaffirmed an “outperform” rating and issued a $380.00 price objective on shares of Amgen in a research note on Wednesday, August 7th. Robert W. Baird restated an “underperform” rating and set a $215.00 price target on shares of Amgen in a report on Wednesday, September 25th. Finally, Morgan Stanley reduced their price objective on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $332.45.

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.