GUNN & Co INVESTMENT MANAGEMENT INC. Decreases Stake in Amgen Inc. (NASDAQ:AMGN)

GUNN & Co INVESTMENT MANAGEMENT INC. lowered its position in Amgen Inc. (NASDAQ:AMGN) by 91.5% during the third quarter, HoldingsChannel reports. The firm owned 9,718 shares of the medical research company’s stock after selling 103,962 shares during the period. Amgen comprises 2.2% of GUNN & Co INVESTMENT MANAGEMENT INC.’s holdings, making the stock its 20th biggest position. GUNN & Co INVESTMENT MANAGEMENT INC.’s holdings in Amgen were worth $3,131,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of AMGN. Strategic Financial Concepts LLC purchased a new stake in Amgen during the second quarter worth approximately $26,000. Hershey Financial Advisers LLC acquired a new position in shares of Amgen in the second quarter valued at approximately $30,000. nVerses Capital LLC acquired a new position in Amgen during the second quarter worth $31,000. Bbjs Financial Advisors LLC acquired a new position in Amgen during the second quarter worth $33,000. Finally, Matrix Trust Co acquired a new position in Amgen during the third quarter worth $36,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on AMGN shares. TD Cowen upped their target price on Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a report on Monday. Robert W. Baird reissued an “underperform” rating and issued a $215.00 price target on shares of Amgen in a research note on Wednesday, September 25th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $362.00 price objective on shares of Amgen in a research note on Thursday, September 26th. Sanford C. Bernstein assumed coverage on Amgen in a report on Thursday, October 17th. They set an “outperform” rating and a $380.00 target price on the stock. Finally, Bank of America lifted their price objective on Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $332.55.

Amgen Stock Down 1.5 %

NASDAQ AMGN opened at $314.90 on Thursday. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 9.64. Amgen Inc. has a 1-year low of $249.70 and a 1-year high of $346.85. The company has a 50 day moving average of $325.77 and a 200-day moving average of $313.12. The company has a market cap of $168.92 billion, a price-to-earnings ratio of 44.99, a PEG ratio of 2.86 and a beta of 0.61.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 EPS for the quarter, missing the consensus estimate of $5.01 by ($0.04). The firm had revenue of $8.39 billion for the quarter, compared to analyst estimates of $8.35 billion. Amgen had a net margin of 10.12% and a return on equity of 161.72%. The firm’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.00 earnings per share. On average, equities research analysts expect that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Dividend Announcement

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

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.