Princeton Capital Management LLC Has $1.97 Million Stake in Amgen Inc. (NASDAQ:AMGN)

Princeton Capital Management LLC trimmed its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 30.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,107 shares of the medical research company's stock after selling 2,624 shares during the quarter. Princeton Capital Management LLC's holdings in Amgen were worth $1,968,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in AMGN. Capital Performance Advisors LLP acquired a new position in shares of Amgen during the 3rd quarter worth $25,000. Strategic Financial Concepts LLC bought a new stake in shares of Amgen during the 2nd quarter worth about $26,000. Hershey Financial Advisers LLC acquired a new position in shares of Amgen during the 2nd quarter valued at about $30,000. nVerses Capital LLC bought a new position in shares of Amgen in the 2nd quarter valued at approximately $31,000. Finally, Bbjs Financial Advisors LLC acquired a new stake in Amgen in the 2nd quarter worth approximately $33,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AMGN has been the subject of a number of research analyst reports. Royal Bank of Canada reissued an "outperform" rating and set a $362.00 target price on shares of Amgen in a research report on Thursday, September 26th. Sanford C. Bernstein started coverage on Amgen in a research note on Thursday, October 17th. They issued an "outperform" rating and a $380.00 target price for the company. Dbs Bank raised shares of Amgen to a "strong-buy" rating in a report on Monday, September 16th. TD Cowen lifted their target price on shares of Amgen from $381.00 to $383.00 and gave the company a "buy" rating in a research report on Monday, October 21st. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $405.00 price target on shares of Amgen in a research note on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Amgen currently has a consensus rating of "Moderate Buy" and a consensus price target of $333.57.

Amgen Trading Up 0.8 %

Amgen stock traded up $2.35 during midday trading on Tuesday, hitting $281.11. 1,675,385 shares of the stock were exchanged, compared to its average volume of 2,453,544. The stock has a market capitalization of $151.11 billion, a PE ratio of 35.69, a P/E/G ratio of 2.53 and a beta of 0.60. The company has a fifty day simple moving average of $319.90 and a two-hundred day simple moving average of $318.65. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. Amgen Inc. has a 52 week low of $260.52 and a 52 week high of $346.85.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, beating 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 during the quarter, compared to analysts' expectations of $8.50 billion. During the same quarter in the prior year, the company earned $4.96 EPS. The firm's quarterly revenue was up 23.2% on a year-over-year basis. Equities research 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. Investors of record on Monday, November 18th will be paid a dividend of $2.25 per share. The ex-dividend date is Monday, November 18th. This represents a $9.00 dividend on an annualized basis and a yield of 3.20%. 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.