Jennison Associates LLC Sells 78,759 Shares of Amgen Inc. (NASDAQ:AMGN)

Jennison Associates LLC cut its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 12.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 579,465 shares of the medical research company's stock after selling 78,759 shares during the quarter. Jennison Associates LLC owned about 0.11% of Amgen worth $186,709,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Capital International Investors lifted its stake in shares of Amgen by 547.8% in the 1st quarter. Capital International Investors now owns 7,005,269 shares of the medical research company's stock valued at $1,991,738,000 after purchasing an additional 5,923,915 shares during the last quarter. Pathway Financial Advisers LLC lifted its position in Amgen by 33,125.4% in the third quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company's stock valued at $1,437,115,000 after buying an additional 4,446,757 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Amgen by 6.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,701,631 shares of the medical research company's stock valued at $844,137,000 after buying an additional 162,223 shares during the last quarter. International Assets Investment Management LLC boosted its stake in Amgen by 6,812.4% during the third quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company's stock worth $8,130,610,000 after buying an additional 2,486,882 shares during the period. Finally, Janus Henderson Group PLC increased its position in shares of Amgen by 137.1% during the first quarter. Janus Henderson Group PLC now owns 2,381,133 shares of the medical research company's stock valued at $676,984,000 after acquiring an additional 1,377,007 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company's stock.

Analyst Upgrades and Downgrades

AMGN has been the topic of several recent analyst reports. TD Cowen upped their price objective on shares of Amgen from $381.00 to $383.00 and gave the stock a "buy" rating in a report on Monday, October 21st. Barclays raised their price target on Amgen from $300.00 to $315.00 and gave the stock an "equal weight" rating in a research report on Monday, October 7th. Jefferies Financial Group reiterated a "buy" rating and issued a $380.00 price objective on shares of Amgen in a report on Tuesday, November 12th. Royal Bank of Canada restated an "outperform" rating and set a $362.00 target price on shares of Amgen in a report on Thursday, September 26th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $305.00 price target (down from $310.00) on shares of Amgen in a research note on Wednesday, August 7th. One 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 company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $333.57.

Amgen Trading Up 2.8 %

AMGN traded up $7.79 during mid-day trading on Wednesday, reaching $287.74. The stock had a trading volume of 3,115,070 shares, compared to its average volume of 2,463,307. The stock has a market capitalization of $154.67 billion, a P/E ratio of 35.85, a P/E/G ratio of 2.53 and a beta of 0.60. 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 52 week low of $260.52 and a 52 week high of $346.85. The firm's fifty day simple moving average is $318.92 and its two-hundred 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 earnings per share for the quarter, topping the consensus estimate of $5.11 by $0.47. The company had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The business's revenue for the quarter was up 23.2% compared to the same quarter last year. During the same period last year, the business posted $4.96 earnings per share. On average, equities analysts predict that Amgen Inc. will post 19.51 EPS for the current year.

Amgen Announces Dividend

The company 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 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 dividend yield of 3.13%. Amgen's payout ratio is presently 115.24%.

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.