Amgen Inc. (NASDAQ:AMGN) Shares Sold by Tredje AP fonden

Tredje AP fonden trimmed its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 10.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 109,542 shares of the medical research company’s stock after selling 13,010 shares during the period. Tredje AP fonden’s holdings in Amgen were worth $34,226,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Strategic Financial Concepts LLC acquired a new position in shares of Amgen in the 2nd quarter valued at $26,000. Horizon Financial Services LLC purchased a new stake in Amgen during the first quarter valued at about $28,000. United Community Bank purchased a new position in shares of Amgen in the fourth quarter worth approximately $29,000. nVerses Capital LLC acquired a new stake in shares of Amgen during the second quarter valued at approximately $31,000. Finally, Bbjs Financial Advisors LLC purchased a new stake in shares of Amgen in the 2nd quarter valued at approximately $33,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Stock Performance

Shares of NASDAQ:AMGN opened at $332.80 on Wednesday. The company has a market capitalization of $178.53 billion, a price-to-earnings ratio of 47.54, a P/E/G ratio of 2.93 and a beta of 0.61. The firm’s 50 day simple moving average is $329.00 and its 200 day simple moving average is $304.81. The company has a debt-to-equity ratio of 9.64, a current ratio of 1.26 and a quick ratio of 0.89. Amgen Inc. has a fifty-two week low of $249.70 and a fifty-two week high of $346.85.

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

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were given a $2.25 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $9.00 annualized dividend and a dividend yield of 2.70%. Amgen’s dividend payout ratio is presently 128.57%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Morgan Stanley decreased their target price on Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a research report on Thursday, July 11th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $305.00 target price (down previously from $310.00) on shares of Amgen in a research note on Wednesday, August 7th. Argus increased their price target on shares of Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Oppenheimer reaffirmed an “outperform” rating and set a $380.00 price objective on shares of Amgen in a research report on Wednesday, August 7th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $380.00 target price (up previously from $375.00) on shares of Amgen in a research report on Wednesday, August 7th. Eleven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Amgen currently has an average rating of “Moderate Buy” and a consensus target price of $327.28.

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.