STF Management LP Sells 716 Shares of Amgen Inc. (NASDAQ:AMGN)

STF Management LP trimmed its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 8.4% in the third quarter, according to its most recent filing with the SEC. The firm owned 7,835 shares of the medical research company’s stock after selling 716 shares during the period. Amgen makes up about 1.1% of STF Management LP’s investment portfolio, making the stock its 22nd biggest position. STF Management LP’s holdings in Amgen were worth $2,525,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Meyer Handelman Co. grew its stake in shares of Amgen by 7.2% in the 2nd quarter. Meyer Handelman Co. now owns 129,831 shares of the medical research company’s stock valued at $40,566,000 after purchasing an additional 8,700 shares during the period. Swiss National Bank grew its position in Amgen by 0.3% in the third quarter. Swiss National Bank now owns 1,592,233 shares of the medical research company’s stock valued at $513,033,000 after acquiring an additional 5,500 shares during the period. Napa Wealth Management acquired a new position in Amgen during the third quarter worth $1,104,000. First Horizon Advisors Inc. lifted its holdings in shares of Amgen by 3.2% during the third quarter. First Horizon Advisors Inc. now owns 60,769 shares of the medical research company’s stock valued at $19,581,000 after acquiring an additional 1,872 shares during the period. Finally, Second Half Financial Partners LLC acquired a new stake in shares of Amgen in the 3rd quarter valued at $3,413,000. Institutional investors own 76.50% of the company’s stock.

Amgen Trading Up 0.7 %

Shares of NASDAQ AMGN opened at $289.77 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. Amgen Inc. has a twelve month low of $260.68 and a twelve month high of $346.85. The company’s fifty day moving average is $317.28 and its 200-day moving average is $318.02. The stock has a market cap of $155.76 billion, a price-to-earnings ratio of 37.10, a P/E/G ratio of 2.50 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last posted its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, topping 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 revenue for the quarter was up 23.2% on a year-over-year basis. Equities research analysts predict that Amgen Inc. will post 19.51 EPS for the current year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be paid a dividend of $2.25 per share. The ex-dividend date is Monday, November 18th. This represents a $9.00 dividend on an annualized basis and a yield of 3.11%. Amgen’s payout ratio is 115.24%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AMGN. Citigroup initiated coverage on shares of Amgen in a report on Thursday, November 14th. They set a “neutral” rating and a $335.00 price target for the company. UBS Group reduced their target price on Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Oppenheimer reaffirmed an “outperform” rating and set a $380.00 price target on shares of Amgen in a report on Wednesday, August 7th. TD Cowen increased their target price on Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Finally, Wolfe Research began coverage on Amgen in a report on Friday, November 15th. They issued a “peer perform” rating for the company. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $333.57.

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.