Amgen Inc. (NASDAQ:AMGN) Shares Sold by Bridgewater Associates LP

Bridgewater Associates LP cut its position in Amgen Inc. (NASDAQ:AMGN) by 61.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,372 shares of the medical research company’s stock after selling 5,354 shares during the period. Bridgewater Associates LP’s holdings in Amgen were worth $1,086,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Capital Performance Advisors LLP acquired a new stake in shares of Amgen in the third quarter worth approximately $25,000. Strategic Financial Concepts LLC purchased a new position in Amgen during the second quarter worth approximately $26,000. Hershey Financial Advisers LLC purchased a new position in Amgen during the second quarter worth approximately $30,000. nVerses Capital LLC purchased a new position in Amgen during the second quarter worth approximately $31,000. Finally, Bbjs Financial Advisors LLC purchased a new position in Amgen during the second quarter worth approximately $33,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Leerink Partners reduced their price objective on Amgen from $349.00 to $302.00 in a research report on Wednesday, November 27th. Wells Fargo & Company downgraded Amgen from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $320.00 to $335.00 in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reduced their price objective on Amgen from $305.00 to $285.00 in a research report on Wednesday, November 27th. TD Cowen lifted their price objective on Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $405.00 target price on shares of Amgen in a research report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $323.05.

Amgen Price Performance

Shares of NASDAQ AMGN opened at $282.87 on Monday. The stock’s 50-day moving average is $311.37 and its two-hundred day moving average is $317.16. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. Amgen Inc. has a 1-year low of $257.80 and a 1-year high of $346.85. The company has a market cap of $152.05 billion, a price-to-earnings ratio of 36.22, a price-to-earnings-growth ratio of 2.52 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The business had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. During the same quarter in the prior year, the business posted $4.96 EPS. The business’s revenue for the quarter was up 23.2% on a year-over-year basis. Analysts forecast that Amgen Inc. will post 19.51 EPS for the current fiscal year.

Amgen Dividend Announcement

The firm 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. The ex-dividend date is Monday, November 18th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.18%. Amgen’s payout ratio is currently 115.24%.

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.