Raymond James & Associates Sells 71,201 Shares of Amgen Inc. (NASDAQ:AMGN)

Raymond James & Associates trimmed its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 6.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 989,504 shares of the medical research company's stock after selling 71,201 shares during the quarter. Raymond James & Associates owned approximately 0.18% of Amgen worth $318,828,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Hershey Financial Advisers LLC bought a new stake in shares of Amgen during the second quarter valued at approximately $30,000. nVerses Capital LLC bought a new stake in shares of Amgen during the second quarter valued at approximately $31,000. Bbjs Financial Advisors LLC bought a new stake in shares of Amgen during the second quarter valued at approximately $33,000. Matrix Trust Co bought a new stake in shares of Amgen during the third quarter valued at approximately $36,000. Finally, FSA Wealth Management LLC grew its stake in shares of Amgen by 182.0% during the first quarter. FSA Wealth Management LLC now owns 141 shares of the medical research company's stock valued at $40,000 after purchasing an additional 91 shares during the last quarter. 76.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AMGN has been the topic of several analyst reports. Jefferies Financial Group restated a "buy" rating and issued a $380.00 price objective (up from $375.00) on shares of Amgen in a report on Wednesday, August 7th. Barclays increased their price objective on shares of Amgen from $300.00 to $315.00 and gave the company an "equal weight" rating in a report on Monday, October 7th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $305.00 price objective (down from $310.00) on shares of Amgen in a report on Wednesday, August 7th. Cantor Fitzgerald initiated coverage on shares of Amgen in a report on Friday, September 27th. They issued an "overweight" rating and a $405.00 price objective on the stock. Finally, Robert W. Baird restated an "underperform" rating and issued a $215.00 price objective on shares of Amgen in a report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $329.48.

Amgen Stock Up 0.1 %

Amgen stock traded up $0.33 during mid-day trading on Friday, reaching $321.66. The company's stock had a trading volume of 1,552,126 shares, compared to its average volume of 2,447,665. The company has a market capitalization of $172.55 billion, a price-to-earnings ratio of 45.95, a price-to-earnings-growth ratio of 2.86 and a beta of 0.61. Amgen Inc. has a 12 month low of $249.70 and a 12 month high of $346.85. The business's 50 day simple moving average is $326.07 and its 200 day simple moving average is $312.15. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.89 and a current ratio of 1.26.

Amgen (NASDAQ:AMGN - Get Free Report) last released its earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share for the quarter, missing analysts' consensus estimates of $5.01 by ($0.04). The business had revenue of $8.39 billion during the quarter, compared to the consensus estimate of $8.35 billion. Amgen had a net margin of 10.12% and a return on equity of 161.72%. The firm's revenue for the quarter was up 20.1% on a year-over-year basis. During the same period last year, the business posted $5.00 EPS. As a group, research analysts anticipate that Amgen Inc. will post 19.49 earnings per share for the current year.

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were given a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend was Friday, August 16th. Amgen's dividend payout ratio (DPR) is presently 128.57%.

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.