Strategy Asset Managers LLC Cuts Holdings in Amgen Inc. (NASDAQ:AMGN)

Strategy Asset Managers LLC lessened its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 48.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,962 shares of the medical research company's stock after selling 2,761 shares during the quarter. Strategy Asset Managers LLC's holdings in Amgen were worth $954,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in AMGN. Keynote Financial Services LLC lifted its position in Amgen by 0.6% in the 2nd quarter. Keynote Financial Services LLC now owns 4,898 shares of the medical research company's stock worth $1,530,000 after buying an additional 30 shares in the last quarter. Ascent Group LLC increased its stake in shares of Amgen by 0.3% in the second quarter. Ascent Group LLC now owns 10,949 shares of the medical research company's stock worth $3,421,000 after purchasing an additional 31 shares during the period. Hofer & Associates. Inc lifted its holdings in shares of Amgen by 0.5% during the second quarter. Hofer & Associates. Inc now owns 6,477 shares of the medical research company's stock worth $2,024,000 after buying an additional 32 shares during the last quarter. Cadinha & Co. LLC grew its stake in shares of Amgen by 0.6% in the third quarter. Cadinha & Co. LLC now owns 5,209 shares of the medical research company's stock worth $1,678,000 after acquiring an additional 32 shares during the last quarter. Finally, Lansing Street Advisors increased its position in Amgen by 1.3% during the third quarter. Lansing Street Advisors now owns 2,582 shares of the medical research company's stock worth $832,000 after acquiring an additional 32 shares during the period. Institutional investors and hedge funds own 76.50% of the company's stock.

Amgen Trading Up 1.5 %

AMGN traded up $4.33 during trading on Wednesday, hitting $284.28. The company's stock had a trading volume of 2,486,335 shares, compared to its average volume of 2,460,512. The firm has a market capitalization of $152.81 billion, a P/E ratio of 35.85, a PEG ratio of 2.53 and a beta of 0.60. Amgen Inc. has a twelve month low of $260.52 and a twelve month high of $346.85. The stock's fifty day moving average price is $318.92 and its 200-day moving average price is $318.43. 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 (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping analysts' consensus estimates of $5.11 by $0.47. The company had revenue of $8.50 billion for the quarter, compared to analysts' expectations of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. Amgen's revenue was up 23.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.96 EPS. Analysts anticipate that Amgen Inc. will post 19.51 EPS for the current year.

Amgen Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 18th will be paid a $2.25 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $9.00 annualized dividend and a yield of 3.17%. Amgen's dividend payout ratio is currently 115.24%.

Analyst Upgrades and Downgrades

AMGN has been the subject of several research reports. William Blair reiterated an "outperform" rating on shares of Amgen in a research note on Tuesday, November 12th. TD Cowen raised their target price on Amgen from $381.00 to $383.00 and gave the company a "buy" rating in a research note on Monday, October 21st. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $305.00 price objective (down previously from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. Robert W. Baird reiterated an "underperform" rating and issued a $215.00 price objective on shares of Amgen in a research report on Wednesday, September 25th. Finally, Bank of America boosted their target price on Amgen from $325.00 to $330.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $333.57.

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.