Bridges Investment Management Inc. Cuts Position in Amgen Inc. (NASDAQ:AMGN)

Bridges Investment Management Inc. lowered its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 1.0% during the third quarter, Holdings Channel reports. The institutional investor owned 93,542 shares of the medical research company’s stock after selling 961 shares during the period. Bridges Investment Management Inc.’s holdings in Amgen were worth $30,140,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Amgen by 6.2% in the 1st quarter. Vanguard Group Inc. now owns 52,088,210 shares of the medical research company’s stock worth $14,809,720,000 after acquiring an additional 3,045,657 shares during the period. Capital International Investors increased its position 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 in the last quarter. Pathway Financial Advisers LLC raised its stake in shares of Amgen by 33,125.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock worth $1,437,115,000 after buying an additional 4,446,757 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Amgen by 6.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,701,631 shares of the medical research company’s stock worth $844,137,000 after buying an additional 162,223 shares in the last quarter. Finally, International Assets Investment Management LLC grew its stake in 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 valued at $8,130,610,000 after acquiring an additional 2,486,882 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on AMGN shares. Bank of America increased their price target on shares of Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Robert W. Baird reissued an “underperform” rating and set a $215.00 price target on shares of Amgen in a research report on Wednesday, September 25th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $305.00 price target (down from $310.00) on shares of Amgen in a report on Wednesday, August 7th. Wells Fargo & Company cut Amgen from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $320.00 to $335.00 in a research report on Wednesday, August 7th. Finally, Dbs Bank upgraded shares of Amgen to a “strong-buy” rating in a report on Monday, September 16th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $333.50.

Amgen Price Performance

Shares of NASDAQ AMGN opened at $325.28 on Friday. The company has a market capitalization of $174.85 billion, a price-to-earnings ratio of 41.65, a PEG 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 1-year low of $260.52 and a 1-year high of $346.85. The business has a 50-day moving average of $323.61 and a 200-day moving average of $317.08.

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, beating analysts’ consensus estimates of $5.11 by $0.47. The company had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The business’s quarterly revenue was up 23.2% on a year-over-year basis. During the same quarter last year, the firm posted $4.96 earnings per share. On average, equities analysts anticipate that Amgen Inc. will post 19.51 EPS for the current fiscal year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date is Monday, November 18th. Amgen’s payout ratio is 115.24%.

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.