Northwest & Ethical Investments L.P. Cuts Holdings in Amgen Inc. (NASDAQ:AMGN)

Northwest & Ethical Investments L.P. lowered its position in Amgen Inc. (NASDAQ:AMGN) by 15.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,114 shares of the medical research company’s stock after selling 3,143 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Amgen were worth $5,514,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Keynote Financial Services LLC boosted its stake in shares of Amgen by 0.6% in the second quarter. Keynote Financial Services LLC now owns 4,898 shares of the medical research company’s stock valued at $1,530,000 after purchasing an additional 30 shares during the period. Ascent Group LLC boosted its position in Amgen by 0.3% in the 2nd quarter. Ascent Group LLC now owns 10,949 shares of the medical research company’s stock valued at $3,421,000 after buying an additional 31 shares during the last quarter. Hofer & Associates. Inc grew its stake 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 valued at $2,024,000 after acquiring an additional 32 shares in the last quarter. Cadinha & Co. LLC increased its position in shares of Amgen by 0.6% during 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 lifted its stake in shares of Amgen by 1.3% in 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 in the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on AMGN. Citigroup dropped their price objective on Amgen from $335.00 to $310.00 in a report on Wednesday. Oppenheimer restated an “outperform” rating and issued a $380.00 price target on shares of Amgen in a research note on Wednesday, August 7th. Leerink Partners cut their price target on shares of Amgen from $349.00 to $302.00 in a report on Wednesday. Sanford C. Bernstein began coverage on shares of Amgen in a report on Thursday, October 17th. They set an “outperform” rating and a $380.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Amgen from $305.00 to $285.00 in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $323.05.

Amgen Trading Up 0.0 %

Shares of AMGN stock opened at $280.07 on Friday. Amgen Inc. has a 1 year low of $257.80 and a 1 year high of $346.85. The firm has a market capitalization of $150.55 billion, a PE ratio of 35.86, a price-to-earnings-growth ratio of 2.62 and a beta of 0.60. The stock has a fifty day moving average of $312.46 and a two-hundred day moving average of $317.31. 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 (NASDAQ:AMGN) last issued its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. The business 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%. The company’s revenue was up 23.2% on a year-over-year basis. During the same period in the previous year, the business earned $4.96 earnings per share. As a group, research analysts expect that Amgen Inc. will post 19.52 EPS for the current year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be issued a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 3.21%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s dividend payout ratio (DPR) is presently 115.24%.

About Amgen

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.