Wrapmanager Inc. Sells 498 Shares of Amgen Inc. (NASDAQ:AMGN)

Wrapmanager Inc. trimmed its holdings in Amgen Inc. (NASDAQ:AMGN) by 11.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,856 shares of the medical research company’s stock after selling 498 shares during the quarter. Wrapmanager Inc.’s holdings in Amgen were worth $1,242,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in AMGN. Hillsdale Investment Management Inc. raised its holdings in shares of Amgen by 44.3% in the first quarter. Hillsdale Investment Management Inc. now owns 1,400 shares of the medical research company’s stock valued at $398,000 after buying an additional 430 shares during the last quarter. Bessemer Group Inc. raised its holdings in shares of Amgen by 29.3% in the first quarter. Bessemer Group Inc. now owns 37,202 shares of the medical research company’s stock valued at $10,578,000 after buying an additional 8,441 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its position in Amgen by 2.7% in the first quarter. CANADA LIFE ASSURANCE Co now owns 49,931 shares of the medical research company’s stock worth $14,241,000 after purchasing an additional 1,311 shares during the period. InterOcean Capital Group LLC increased its position in Amgen by 3.7% in the first quarter. InterOcean Capital Group LLC now owns 7,055 shares of the medical research company’s stock worth $2,006,000 after purchasing an additional 250 shares during the period. Finally, Ossiam increased its position in Amgen by 154.2% in the first quarter. Ossiam now owns 49,414 shares of the medical research company’s stock worth $14,049,000 after purchasing an additional 29,975 shares during the period. 76.50% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AMGN has been the subject of a number of research reports. Dbs Bank upgraded Amgen to a “strong-buy” rating in a research report on Monday, September 16th. Oppenheimer reiterated an “outperform” rating and issued a $380.00 price objective on shares of Amgen in a research report on Wednesday, August 7th. Jefferies Financial Group reiterated a “buy” rating and issued a $380.00 price objective on shares of Amgen in a research report on Tuesday, November 12th. TD Cowen lifted their price objective on Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Finally, Wolfe Research started coverage on Amgen in a research report on Friday. They set a “peer perform” rating for the company. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Amgen has a consensus rating of “Moderate Buy” and a consensus target price of $333.57.

Amgen Trading Down 0.9 %

NASDAQ:AMGN opened at $278.76 on Tuesday. Amgen Inc. has a twelve month low of $260.52 and a twelve month high of $346.85. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. The business has a 50 day moving average price of $319.90 and a two-hundred day moving average price of $318.65. The company has a market cap of $149.84 billion, a P/E ratio of 35.69, a price-to-earnings-growth ratio of 2.53 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, topping analysts’ consensus estimates of $5.11 by $0.47. The firm had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The business’s revenue was up 23.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.96 EPS. As a group, analysts expect that Amgen Inc. will post 19.51 EPS for the current fiscal year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be issued a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 3.23%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s payout ratio is presently 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.