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

BBR Partners LLC cut its stake in Amgen Inc. (NASDAQ:AMGN) by 0.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,292 shares of the medical research company’s stock after selling 56 shares during the period. BBR Partners LLC’s holdings in Amgen were worth $2,027,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Kennedy Capital Management LLC acquired a new stake in Amgen during the first quarter worth about $3,240,000. LRI Investments LLC acquired a new stake in shares of Amgen during the 1st quarter worth approximately $152,000. Redwood Grove Capital LLC increased its holdings in shares of Amgen by 17.2% during the 1st quarter. Redwood Grove Capital LLC now owns 47,687 shares of the medical research company’s stock worth $13,558,000 after buying an additional 7,000 shares during the last quarter. Cetera Investment Advisers lifted its holdings in Amgen by 268.9% in the first quarter. Cetera Investment Advisers now owns 233,379 shares of the medical research company’s stock valued at $66,355,000 after acquiring an additional 170,108 shares during the last quarter. Finally, Cetera Advisors LLC grew its position in Amgen by 151.3% in the first quarter. Cetera Advisors LLC now owns 70,984 shares of the medical research company’s stock worth $20,182,000 after acquiring an additional 42,739 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Trading Up 0.0 %

Shares of NASDAQ:AMGN opened at $280.07 on Thursday. Amgen Inc. has a 52 week low of $257.80 and a 52 week high of $346.85. The company’s 50 day moving average is $313.58 and its two-hundred day moving average is $317.57. The company has a market cap of $150.55 billion, a PE ratio of 35.86, a P/E/G ratio of 2.62 and a beta of 0.60. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55.

Amgen (NASDAQ:AMGN) last issued its 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. 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 the consensus estimate of $8.50 billion. During the same quarter in the previous year, the firm posted $4.96 earnings per share. The company’s revenue was up 23.2% compared to the same quarter last year. Equities analysts predict that Amgen Inc. will post 19.52 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Stockholders 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 dividend yield of 3.21%. The ex-dividend date is Monday, November 18th. Amgen’s dividend payout ratio (DPR) is presently 115.24%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Barclays lifted their target price on Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Citigroup reduced their price objective on shares of Amgen from $335.00 to $310.00 in a report on Wednesday. Jefferies Financial Group reaffirmed a “buy” rating and set a $380.00 target price on shares of Amgen in a research note on Tuesday, November 12th. Sanford C. Bernstein began coverage on shares of Amgen in a research note on Thursday, October 17th. They issued an “outperform” rating and a $380.00 price target on the stock. Finally, 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. 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 MarketBeat, Amgen has an average rating of “Moderate Buy” and an average price target of $323.05.

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.