Amgen Inc. (NASDAQ:AMGN) Shares Sold by Park Avenue Securities LLC

Park Avenue Securities LLC cut its position in shares of Amgen Inc. (NASDAQ:AMGN) by 10.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,404 shares of the medical research company’s stock after selling 3,767 shares during the quarter. Park Avenue Securities LLC’s holdings in Amgen were worth $10,119,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Grassi Investment Management bought a new position in Amgen during the first quarter worth $2,283,000. Public Employees Retirement System of Ohio lifted its stake in Amgen by 1.6% in the fourth quarter. Public Employees Retirement System of Ohio now owns 281,791 shares of the medical research company’s stock valued at $81,161,000 after buying an additional 4,376 shares during the last quarter. Meyer Handelman Co. lifted its stake in Amgen by 7.2% in the second quarter. Meyer Handelman Co. now owns 129,831 shares of the medical research company’s stock valued at $40,566,000 after buying an additional 8,700 shares during the last quarter. Chicago Partners Investment Group LLC lifted its stake in Amgen by 1.3% in the fourth quarter. Chicago Partners Investment Group LLC now owns 4,543 shares of the medical research company’s stock valued at $1,388,000 after buying an additional 57 shares during the last quarter. Finally, Novak & Powell Financial Services Inc. bought a new stake in Amgen in the fourth quarter valued at $803,000. 76.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on AMGN. TD Cowen raised their target price on Amgen from $360.00 to $381.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Bank of America raised their target price on Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Dbs Bank upgraded Amgen to a “strong-buy” rating in a research note on Monday, September 16th. Robert W. Baird reissued an “underperform” rating and set a $215.00 price target on shares of Amgen in a report on Wednesday, September 25th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $380.00 price target (up from $375.00) on shares of Amgen in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $325.55.

Amgen Trading Down 0.7 %

Shares of NASDAQ:AMGN opened at $317.48 on Friday. The firm has a fifty day moving average of $327.58 and a two-hundred day moving average of $308.62. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 9.64. Amgen Inc. has a 12-month low of $249.70 and a 12-month high of $346.85. The firm has a market capitalization of $170.31 billion, a P/E ratio of 45.35, a price-to-earnings-growth ratio of 2.98 and a beta of 0.61.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.01 by ($0.04). The firm had revenue of $8.39 billion for the quarter, compared to analyst estimates of $8.35 billion. Amgen had a net margin of 10.12% and a return on equity of 161.72%. The firm’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.00 earnings per share. On average, equities analysts expect that Amgen Inc. will post 19.49 EPS for the current fiscal year.

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s dividend payout ratio is 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.