Amgen Inc. (NASDAQ:AMGN) Shares Sold by Chicago Partners Investment Group LLC

Chicago Partners Investment Group LLC trimmed its position in Amgen Inc. (NASDAQ:AMGN) by 2.9% in the third quarter, HoldingsChannel.com reports. The firm owned 4,928 shares of the medical research company’s stock after selling 148 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in Amgen were worth $1,552,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital International Investors lifted its holdings in shares of Amgen by 547.8% in the first quarter. Capital International Investors now owns 7,005,269 shares of the medical research company’s stock valued at $1,991,738,000 after buying an additional 5,923,915 shares during the period. Pathway Financial Advisers LLC lifted its holdings in Amgen by 33,125.4% in the 3rd quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock valued at $1,437,115,000 after acquiring an additional 4,446,757 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Amgen by 6.2% during the 1st quarter. Vanguard Group Inc. now owns 52,088,210 shares of the medical research company’s stock valued at $14,809,720,000 after purchasing an additional 3,045,657 shares in the last quarter. International Assets Investment Management LLC grew its stake in shares of Amgen by 6,812.4% in the 3rd quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock worth $8,130,610,000 after purchasing an additional 2,486,882 shares during the last quarter. Finally, Janus Henderson Group PLC raised its holdings in shares of Amgen by 137.1% in the 1st quarter. Janus Henderson Group PLC now owns 2,381,133 shares of the medical research company’s stock worth $676,984,000 after purchasing an additional 1,377,007 shares in the last quarter. 76.50% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on AMGN. Bank of America raised their target price on shares of Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Wells Fargo & Company cut 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 report on Wednesday, August 7th. Robert W. Baird reaffirmed an “underperform” rating and set a $215.00 target price on shares of Amgen in a report on Wednesday, September 25th. Sanford C. Bernstein started coverage on Amgen in a research note on Thursday, October 17th. They issued an “outperform” rating and a $380.00 price target on the stock. Finally, Morgan Stanley cut their price objective on Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a report on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Amgen currently has an average rating of “Moderate Buy” and a consensus target price of $333.50.

Amgen Trading Down 0.3 %

Shares of NASDAQ AMGN opened at $319.22 on Monday. The business has a 50 day simple moving average of $324.47 and a 200 day simple moving average of $315.90. Amgen Inc. has a 52 week low of $260.52 and a 52 week high of $346.85. The stock has a market cap of $171.53 billion, a price-to-earnings ratio of 40.87, a PEG ratio of 2.89 and a beta of 0.60. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.89 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 EPS for the quarter, topping the consensus estimate of $5.11 by $0.47. The company had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The company’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.96 earnings per share. On average, research analysts predict that Amgen Inc. will post 19.45 earnings per share for the current fiscal year.

Amgen Announces Dividend

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 issued 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 currently 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.