Amgen Inc. (NASDAQ:AMGN) Shares Sold by Brighton Jones LLC

Brighton Jones LLC decreased its position in Amgen Inc. (NASDAQ:AMGN) by 6.5% in the third quarter, Holdings Channel reports. The institutional investor owned 22,242 shares of the medical research company’s stock after selling 1,536 shares during the period. Brighton Jones LLC’s holdings in Amgen were worth $7,167,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Meyer Handelman Co. raised its holdings in Amgen by 7.2% in the 2nd quarter. Meyer Handelman Co. now owns 129,831 shares of the medical research company’s stock worth $40,566,000 after purchasing an additional 8,700 shares during the period. Hennion & Walsh Asset Management Inc. raised its stake in shares of Amgen by 37.4% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 11,642 shares of the medical research company’s stock worth $3,310,000 after buying an additional 3,168 shares during the period. Oak Harvest Investment Services lifted its position in shares of Amgen by 19.1% during the 1st quarter. Oak Harvest Investment Services now owns 38,067 shares of the medical research company’s stock valued at $10,823,000 after buying an additional 6,116 shares in the last quarter. EP Wealth Advisors LLC grew its stake in Amgen by 11.0% in the 1st quarter. EP Wealth Advisors LLC now owns 23,769 shares of the medical research company’s stock valued at $6,758,000 after acquiring an additional 2,353 shares during the period. Finally, BNP Paribas purchased a new stake in Amgen in the 1st quarter worth $4,772,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Stock Performance

Shares of Amgen stock opened at $314.90 on Thursday. The firm has a market cap of $168.92 billion, a PE ratio of 44.99, a price-to-earnings-growth ratio of 2.86 and a beta of 0.61. 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 52 week low of $249.70 and a 52 week high of $346.85. The business’s fifty day simple moving average is $325.77 and its 200-day simple moving average is $313.12.

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

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s dividend payout ratio (DPR) is 128.57%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on AMGN. TD Cowen increased their price objective on shares of Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a report on Monday. Sanford C. Bernstein initiated coverage on Amgen in a report on Thursday, October 17th. They issued an “outperform” rating and a $380.00 price objective on the stock. Morgan Stanley reduced their target price on Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a report on Thursday, July 11th. Dbs Bank upgraded Amgen to a “strong-buy” rating in a research report on Monday, September 16th. Finally, Robert W. Baird restated an “underperform” rating and issued a $215.00 price objective on shares of Amgen in a report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $332.55.

Amgen 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.