Amgen Inc. (NASDAQ:AMGN) Shares Sold by Invst LLC

Invst LLC trimmed its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 73.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 849 shares of the medical research company's stock after selling 2,383 shares during the quarter. Invst LLC's holdings in Amgen were worth $274,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in AMGN. Pathway Financial Advisers LLC lifted its stake in shares of Amgen by 33,125.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company's stock worth $1,437,115,000 after purchasing an additional 4,446,757 shares during the period. International Assets Investment Management LLC increased its stake in Amgen by 6,812.4% in the third quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company's stock valued at $8,130,610,000 after purchasing an additional 2,486,882 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in Amgen by 561.5% during the third quarter. Assenagon Asset Management S.A. now owns 1,539,733 shares of the medical research company's stock worth $496,117,000 after buying an additional 1,306,982 shares during the period. Granite Bay Wealth Management LLC boosted its stake in Amgen by 9,058.1% in the 2nd quarter. Granite Bay Wealth Management LLC now owns 756,460 shares of the medical research company's stock worth $223,897,000 after buying an additional 748,200 shares during the last quarter. Finally, Janus Henderson Group PLC grew its holdings in Amgen by 11.7% in the 3rd quarter. Janus Henderson Group PLC now owns 5,143,330 shares of the medical research company's stock valued at $1,657,183,000 after buying an additional 538,545 shares during the period. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AMGN. Barclays increased their price objective on shares of Amgen from $300.00 to $315.00 and gave the stock an "equal weight" rating in a report on Monday, October 7th. TD Cowen increased their price target on shares of Amgen from $381.00 to $383.00 and gave the stock a "buy" rating in a research note on Monday, October 21st. William Blair reissued an "outperform" rating on shares of Amgen in a research note on Tuesday, November 12th. Leerink Partners cut their target price on Amgen from $349.00 to $302.00 in a research report on Wednesday, November 27th. Finally, Jefferies Financial Group reissued a "buy" rating and set a $380.00 price target on shares of Amgen in a research report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $319.68.

Amgen Stock Up 0.2 %

Shares of Amgen stock traded up $0.65 on Thursday, hitting $274.06. 3,748,306 shares of the company's stock traded hands, compared to its average volume of 2,619,943. 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 firm's 50-day moving average is $303.87 and its 200 day moving average is $315.16. The stock has a market cap of $147.32 billion, a P/E ratio of 35.09, a PEG ratio of 3.02 and a beta of 0.55. Amgen Inc. has a 52-week low of $257.80 and a 52-week high of $346.85.

Amgen (NASDAQ:AMGN - Get Free Report) last posted 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. The firm had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The firm's revenue was up 23.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.96 EPS. Equities analysts anticipate that Amgen Inc. will post 19.51 earnings per share for the current year.

Amgen Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be issued a $2.38 dividend. This is a positive change from Amgen's previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a yield of 3.47%. The ex-dividend date is Friday, February 14th. Amgen's payout ratio is currently 121.90%.

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.