Amgen Inc. (NASDAQ:AMGN) Shares Sold by Truvestments Capital LLC

Truvestments Capital LLC lessened its position in Amgen Inc. (NASDAQ:AMGN) by 57.9% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 722 shares of the medical research company’s stock after selling 991 shares during the period. Truvestments Capital LLC’s holdings in Amgen were worth $233,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of AMGN. Pathway Financial Advisers LLC lifted its holdings in Amgen by 33,125.4% in the 3rd quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock valued at $1,437,115,000 after acquiring an additional 4,446,757 shares during the last quarter. International Assets Investment Management LLC raised its holdings in shares of Amgen by 6,812.4% in the 3rd quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock worth $8,130,610,000 after purchasing an additional 2,486,882 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in Amgen by 561.5% during the third quarter. Assenagon Asset Management S.A. now owns 1,539,733 shares of the medical research company’s stock valued at $496,117,000 after purchasing an additional 1,306,982 shares during the last quarter. Granite Bay Wealth Management LLC boosted its holdings in Amgen by 9,058.1% during the second quarter. Granite Bay Wealth Management LLC now owns 756,460 shares of the medical research company’s stock worth $223,897,000 after buying an additional 748,200 shares in the last quarter. Finally, Swedbank AB acquired a new position in Amgen in the first quarter worth approximately $151,977,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on AMGN shares. Wells Fargo & Company downgraded Amgen from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $320.00 to $335.00 in a research report on Wednesday, August 7th. William Blair reaffirmed an “outperform” rating on shares of Amgen in a report on Tuesday, November 12th. Citigroup initiated coverage on Amgen in a research note on Thursday, November 14th. They issued a “neutral” rating and a $335.00 price target on the stock. Dbs Bank raised shares of Amgen to a “strong-buy” rating in a research note on Monday, September 16th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $405.00 target price on shares of Amgen in a report on Tuesday, October 22nd. 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 issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $333.57.

Amgen Stock Performance

NASDAQ AMGN opened at $294.00 on Tuesday. The company’s fifty day moving average is $315.69 and its two-hundred day moving average is $318.05. Amgen Inc. has a 52-week low of $260.68 and a 52-week high of $346.85. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. The firm has a market capitalization of $158.03 billion, a price-to-earnings ratio of 37.64, a P/E/G ratio of 2.63 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The firm had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. During the same period in the previous year, the company posted $4.96 earnings per share. The company’s quarterly revenue was up 23.2% compared to the same quarter last year. Equities research analysts forecast that Amgen Inc. will post 19.52 EPS for the current year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be given a $2.25 dividend. The ex-dividend date is Monday, November 18th. This represents a $9.00 annualized dividend and a yield of 3.06%. Amgen’s dividend payout ratio (DPR) 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.