Connor Clark & Lunn Investment Management Ltd. Decreases Stake in Amgen Inc. (NASDAQ:AMGN)

Connor Clark & Lunn Investment Management Ltd. cut its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 50.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 28,635 shares of the medical research company's stock after selling 29,127 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in Amgen were worth $9,226,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of AMGN. Meyer Handelman Co. boosted its holdings in shares of Amgen by 7.2% in the second quarter. Meyer Handelman Co. now owns 129,831 shares of the medical research company's stock valued at $40,566,000 after acquiring an additional 8,700 shares in the last quarter. Swiss National Bank boosted its position in Amgen by 0.3% during the third quarter. Swiss National Bank now owns 1,592,233 shares of the medical research company's stock worth $513,033,000 after purchasing an additional 5,500 shares in the last quarter. Napa Wealth Management acquired a new stake in Amgen in the third quarter valued at $1,104,000. Second Half Financial Partners LLC purchased a new position in shares of Amgen in the third quarter valued at $3,413,000. Finally, Mizuho Securities USA LLC increased its position in shares of Amgen by 88.8% in the third quarter. Mizuho Securities USA LLC now owns 78,092 shares of the medical research company's stock valued at $25,162,000 after buying an additional 36,733 shares in the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Trading Up 0.7 %

NASDAQ AMGN opened at $289.77 on Friday. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. Amgen Inc. has a one year low of $260.68 and a one year high of $346.85. The company's 50 day moving average price is $317.28 and its 200 day moving average price is $318.02. The firm has a market capitalization of $155.76 billion, a price-to-earnings ratio of 37.10, a PEG ratio of 2.50 and a beta of 0.60.

Amgen (NASDAQ:AMGN - Get Free Report) last announced 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. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The firm had revenue of $8.50 billion during the quarter, compared to analysts' expectations of $8.50 billion. During the same period in the prior year, the company earned $4.96 EPS. The firm's revenue was up 23.2% on a year-over-year basis. On average, sell-side analysts predict that Amgen Inc. will post 19.51 EPS for the current year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 3.11%. The ex-dividend date is Monday, November 18th. Amgen's dividend payout ratio (DPR) is presently 115.24%.

Analyst Ratings Changes

A number of brokerages recently commented on AMGN. UBS Group lowered their price objective on shares of Amgen from $335.00 to $326.00 and set a "neutral" rating on the stock in a research note on Thursday, October 31st. Wells Fargo & Company cut shares of Amgen from an "overweight" rating to an "equal weight" rating and raised their price objective for the stock from $320.00 to $335.00 in a research note on Wednesday, August 7th. Royal Bank of Canada reiterated an "outperform" rating and set a $362.00 target price on shares of Amgen in a report on Thursday, September 26th. Barclays boosted their price target on Amgen from $300.00 to $315.00 and gave the stock an "equal weight" rating in a report on Monday, October 7th. Finally, Robert W. Baird reiterated an "underperform" rating and set a $215.00 price target on shares of Amgen in a report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $333.57.

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.