Amgen Inc. (NASDAQ:AMGN) Shares Sold by Silver Coast Investments LLC

Silver Coast Investments LLC trimmed its stake in Amgen Inc. (NASDAQ:AMGN) by 3.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 887 shares of the medical research company’s stock after selling 35 shares during the quarter. Silver Coast Investments LLC’s holdings in Amgen were worth $286,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of AMGN. Vanguard Group Inc. grew its position in Amgen by 6.2% during the 1st quarter. Vanguard Group Inc. now owns 52,088,210 shares of the medical research company’s stock worth $14,809,720,000 after purchasing an additional 3,045,657 shares in the last quarter. Capital International Investors boosted its position in Amgen by 547.8% during the first quarter. Capital International Investors now owns 7,005,269 shares of the medical research company’s stock valued at $1,991,738,000 after purchasing an additional 5,923,915 shares during the last quarter. Pathway Financial Advisers LLC grew its stake in Amgen by 33,125.4% in the third 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 purchasing an additional 4,446,757 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Amgen by 6.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,701,631 shares of the medical research company’s stock worth $844,137,000 after purchasing an additional 162,223 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in shares of Amgen by 6,812.4% during the 3rd quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock valued at $8,130,610,000 after buying an additional 2,486,882 shares during the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on AMGN shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $362.00 price objective on shares of Amgen in a research report on Thursday, September 26th. Dbs Bank upgraded shares of Amgen to a “strong-buy” rating in a report on Monday, September 16th. Sanford C. Bernstein began coverage on Amgen in a report on Thursday, October 17th. They set an “outperform” rating and a $380.00 target price on the stock. Morgan Stanley cut their price objective on Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 11th. Finally, Barclays lifted their price target on shares of Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $333.50.

Amgen Trading Down 0.2 %

Amgen stock traded down $0.53 during mid-day trading on Friday, hitting $319.63. 217,348 shares of the company’s stock were exchanged, compared to its average volume of 2,410,499. Amgen Inc. has a fifty-two week low of $260.52 and a fifty-two week high of $346.85. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 9.64. The firm has a market capitalization of $171.75 billion, a P/E ratio of 40.99, a PEG ratio of 2.84 and a beta of 0.61. The company’s 50 day simple moving average is $324.66 and its 200-day simple moving average is $314.82.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, beating the consensus estimate of $5.11 by $0.47. The business had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.50 billion. Amgen had a return on equity of 181.58% and a net margin of 13.00%. Amgen’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.96 EPS. On average, equities analysts anticipate that Amgen Inc. will post 19.48 earnings per share for the current year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be issued a dividend of $2.25 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.82%. Amgen’s payout ratio is 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.