Courier Capital LLC Sells 749 Shares of Amgen Inc. (NASDAQ:AMGN)

Courier Capital LLC lessened its position in Amgen Inc. (NASDAQ:AMGN) by 4.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 17,537 shares of the medical research company’s stock after selling 749 shares during the period. Courier Capital LLC’s holdings in Amgen were worth $5,650,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Strategic Financial Concepts LLC bought a new position in Amgen in the 2nd quarter worth $26,000. Hershey Financial Advisers LLC bought a new position in Amgen in the 2nd quarter worth $30,000. nVerses Capital LLC bought a new position in Amgen in the 2nd quarter worth $31,000. Bbjs Financial Advisors LLC bought a new position in shares of Amgen during the 2nd quarter worth about $33,000. Finally, Matrix Trust Co bought a new position in shares of Amgen during the 3rd quarter worth about $36,000. Institutional investors own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on AMGN. Morgan Stanley dropped their price objective on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a report on Thursday, July 11th. Wells Fargo & Company downgraded shares of Amgen from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $320.00 to $335.00 in a report on Wednesday, August 7th. Royal Bank of Canada restated an “outperform” rating and set a $362.00 price objective on shares of Amgen in a report on Thursday, September 26th. Bank of America boosted their price objective on shares of Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Finally, Barclays boosted their price objective on shares of Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $332.55.

Amgen Price Performance

NASDAQ:AMGN traded down $4.51 on Wednesday, reaching $315.15. The stock had a trading volume of 376,036 shares, compared to its average volume of 2,431,741. Amgen Inc. has a 1-year low of $249.70 and a 1-year high of $346.85. The stock has a fifty day moving average price of $325.93 and a 200-day moving average price of $313.11. The company has a market capitalization of $169.06 billion, a P/E ratio of 45.67, 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 (NASDAQ:AMGN) last announced its earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). Amgen had a return on equity of 161.72% and a net margin of 10.12%. The company had revenue of $8.39 billion for the quarter, compared to analyst estimates of $8.35 billion. During the same quarter in the previous year, the company posted $5.00 earnings per share. Amgen’s revenue for the quarter was up 20.1% on a year-over-year basis. Research analysts forecast that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Announces Dividend

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

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.