Amgen Inc. (NASDAQ:AMGN) Stake Reduced by Ridgewood Investments LLC

Ridgewood Investments LLC cut its holdings in Amgen Inc. (NASDAQ:AMGN) by 9.6% during the 3rd quarter, Holdings Channel.com reports. The fund owned 2,261 shares of the medical research company’s stock after selling 241 shares during the quarter. Ridgewood Investments LLC’s holdings in Amgen were worth $575,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Skandinaviska Enskilda Banken AB publ raised its holdings in Amgen by 0.4% during the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 929,585 shares of the medical research company’s stock worth $188,455,000 after buying an additional 3,643 shares during the period. APG Asset Management N.V. raised its holdings in Amgen by 67.7% during the 1st quarter. APG Asset Management N.V. now owns 732,305 shares of the medical research company’s stock worth $148,460,000 after buying an additional 295,600 shares during the period. CWA Asset Management Group LLC raised its holdings in Amgen by 7.6% during the 1st quarter. CWA Asset Management Group LLC now owns 2,413 shares of the medical research company’s stock worth $489,000 after buying an additional 171 shares during the period. London & Capital Asset Management Ltd raised its holdings in Amgen by 16.6% during the 1st quarter. London & Capital Asset Management Ltd now owns 112,884 shares of the medical research company’s stock worth $22,886,000 after buying an additional 16,108 shares during the period. Finally, Morgan Stanley raised its holdings in Amgen by 7.4% during the 1st quarter. Morgan Stanley now owns 7,263,835 shares of the medical research company’s stock worth $1,472,598,000 after buying an additional 501,592 shares during the period. Hedge funds and other institutional investors own 75.23% of the company’s stock.

NASDAQ:AMGN opened at $235.72 on Friday. Amgen Inc. has a 1 year low of $177.05 and a 1 year high of $264.97. The firm’s fifty day simple moving average is $246.43 and its 200 day simple moving average is $237.88. The company has a current ratio of 2.18, a quick ratio of 1.81 and a debt-to-equity ratio of 3.20. The firm has a market capitalization of $138.06 billion, a PE ratio of 19.26, a PEG ratio of 2.11 and a beta of 0.81.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, July 28th. The medical research company reported $4.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.81 by $0.44. Amgen had a net margin of 30.04% and a return on equity of 91.98%. The business had revenue of $6.21 billion for the quarter, compared to analyst estimates of $6.19 billion. During the same period last year, the business posted $3.97 EPS. Amgen’s revenue was up 5.7% compared to the same quarter last year. As a group, analysts anticipate that Amgen Inc. will post 15.66 EPS for the current fiscal year.

AMGN has been the topic of several recent analyst reports. Barclays boosted their price objective on Amgen from $245.00 to $250.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 29th. William Blair reaffirmed a “hold” rating on shares of Amgen in a research note on Wednesday, September 23rd. Credit Suisse Group reaffirmed a “buy” rating on shares of Amgen in a research note on Wednesday, July 29th. ValuEngine cut Amgen from a “hold” rating to a “sell” rating in a research note on Thursday, October 8th. Finally, Jefferies Financial Group lifted their target price on Amgen from $285.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and fifteen have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $255.08.

In related news, Director R Sanders Williams sold 250 shares of the firm’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $242.95, for a total value of $60,737.50. Following the transaction, the director now directly owns 5,159 shares in the company, valued at approximately $1,253,379.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ronald D. Sugar sold 1,000 shares of the firm’s stock in a transaction on Wednesday, July 22nd. The shares were sold at an average price of $259.79, for a total transaction of $259,790.00. Following the completion of the transaction, the director now owns 16,589 shares in the company, valued at $4,309,656.31. The disclosure for this sale can be found here. Insiders sold a total of 2,250 shares of company stock worth $561,548 over the last quarter. 0.36% of the stock is currently owned by company insiders.

About Amgen

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Sensipar/Mimpara to treat secondary hyperparathyroidism; and EPOGEN to treat anemia caused by chronic kidney disease.

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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