Cigna Investments Inc. New Has $1.78 Million Stock Position in Amgen Inc. (NASDAQ:AMGN)

Cigna Investments Inc. New cut its holdings in Amgen Inc. (NASDAQ:AMGN) by 1.5% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 5,531 shares of the medical research company’s stock after selling 85 shares during the quarter. Cigna Investments Inc. New’s holdings in Amgen were worth $1,782,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Strategic Financial Concepts LLC bought a new position in Amgen in the 2nd quarter valued at approximately $26,000. Hershey Financial Advisers LLC bought a new position in shares of Amgen in the 2nd quarter valued at $30,000. nVerses Capital LLC acquired a new stake in shares of Amgen during the 2nd quarter valued at $31,000. Bbjs Financial Advisors LLC bought a new stake in Amgen during the 2nd quarter worth $33,000. Finally, Matrix Trust Co acquired a new position in Amgen in the 3rd quarter worth about $36,000. Institutional investors own 76.50% of the company’s stock.

Analyst Ratings Changes

AMGN has been the topic of several research reports. Dbs Bank upgraded Amgen to a “strong-buy” rating in a report on Monday, September 16th. Cantor Fitzgerald reissued an “overweight” rating and set a $405.00 target price on shares of Amgen in a report on Tuesday, October 22nd. Sanford C. Bernstein initiated coverage on shares of Amgen in a report on Thursday, October 17th. They set an “outperform” rating and a $380.00 price target on the stock. Barclays increased their price objective on Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $380.00 target price (up from $375.00) on shares of Amgen in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Amgen has an average rating of “Moderate Buy” and an average target price of $333.50.

Amgen Price Performance

AMGN stock opened at $320.16 on Friday. The company has a debt-to-equity ratio of 9.64, a current ratio of 1.26 and a quick ratio of 0.89. The company’s 50-day moving average is $324.66 and its 200-day moving average is $314.82. The stock has a market capitalization of $172.03 billion, a PE ratio of 40.99, a price-to-earnings-growth ratio of 2.86 and a beta of 0.61. Amgen Inc. has a 1 year low of $249.70 and a 1 year high of $346.85.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.11 by $0.47. Amgen had a return on equity of 161.72% and a net margin of 10.12%. The business had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. During the same quarter in the prior year, the company earned $4.96 earnings per share. The company’s quarterly revenue was up 23.2% on a year-over-year basis. Equities research analysts expect that Amgen Inc. will post 19.49 EPS for the current fiscal year.

Amgen Dividend Announcement

The firm also recently disclosed 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 2.81%. Amgen’s payout ratio is 115.24%.

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.