Advisors Asset Management Inc. Has $35.92 Million Position in Amgen Inc. (NASDAQ:AMGN)

Advisors Asset Management Inc. reduced its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 2.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 111,492 shares of the medical research company's stock after selling 2,325 shares during the period. Amgen makes up about 0.7% of Advisors Asset Management Inc.'s investment portfolio, making the stock its 17th largest position. Advisors Asset Management Inc.'s holdings in Amgen were worth $35,924,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Bessemer Group Inc. grew its position in Amgen by 29.3% during the first quarter. Bessemer Group Inc. now owns 37,202 shares of the medical research company's stock worth $10,578,000 after buying an additional 8,441 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its position in shares of Amgen by 2.7% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 49,931 shares of the medical research company's stock worth $14,241,000 after acquiring an additional 1,311 shares in the last quarter. LGT Group Foundation raised its position in shares of Amgen by 5.7% in the 1st quarter. LGT Group Foundation now owns 6,320 shares of the medical research company's stock worth $1,797,000 after acquiring an additional 341 shares in the last quarter. Delap Wealth Advisory LLC acquired a new position in Amgen during the 1st quarter worth approximately $335,000. Finally, CreativeOne Wealth LLC increased its holdings in Amgen by 131.7% during the 1st quarter. CreativeOne Wealth LLC now owns 11,698 shares of the medical research company's stock worth $3,326,000 after purchasing an additional 6,650 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company's stock.

Amgen Price Performance

NASDAQ:AMGN traded up $7.92 during mid-day trading on Wednesday, hitting $287.87. 4,759,035 shares of the company's stock traded hands, compared to its average volume of 2,470,613. The company has a market cap of $154.74 billion, a PE ratio of 35.85, a price-to-earnings-growth ratio of 2.53 and a beta of 0.60. Amgen Inc. has a 1 year low of $260.52 and a 1 year high of $346.85. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. The firm's 50 day simple moving average is $318.92 and its 200 day simple moving average is $318.43.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping analysts' consensus estimates of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The business had revenue of $8.50 billion for the quarter, compared to analysts' expectations of $8.50 billion. During the same period in the previous year, the company posted $4.96 earnings per share. The business's revenue for the quarter was up 23.2% compared to the same quarter last year. Sell-side analysts expect that Amgen Inc. will post 19.51 EPS for the current year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be issued a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 3.13%. The ex-dividend date of this dividend is Monday, November 18th. Amgen's payout ratio is currently 115.24%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on AMGN shares. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $405.00 target price on shares of Amgen in a report on Tuesday, October 22nd. Wolfe Research began coverage on Amgen in a report on Friday, November 15th. They set a "peer perform" rating for the company. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $305.00 target price (down previously from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. TD Cowen increased 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, Barclays increased their price objective on Amgen from $300.00 to $315.00 and gave the stock an "equal weight" rating in a research report on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $333.57.

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.