Financial Counselors Inc. trimmed its stake in Amgen, Inc. (NASDAQ:AMGN) by 7.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 85,805 shares of the medical research company’s stock after selling 6,555 shares during the period. Financial Counselors Inc.’s holdings in Amgen were worth $17,787,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Kwmg LLC acquired a new stake in Amgen during the 2nd quarter worth about $108,000. Mainstay Capital Management LLC ADV acquired a new stake in shares of Amgen in the 2nd quarter valued at about $111,000. Polaris Greystone Financial Group LLC acquired a new stake in shares of Amgen in the 3rd quarter valued at about $166,000. Grassi Investment Management acquired a new stake in shares of Amgen in the 3rd quarter valued at about $212,000. Finally, Financial Advisory Group acquired a new stake in shares of Amgen in the 3rd quarter valued at about $213,000. Institutional investors and hedge funds own 82.37% of the company’s stock.
Several brokerages have recently commented on AMGN. Royal Bank of Canada restated a “neutral” rating and issued a $193.00 target price on shares of Amgen in a research note on Monday, September 10th. Cann restated a “buy” rating and issued a $224.00 target price on shares of Amgen in a research note on Monday, July 30th. Piper Jaffray Companies raised their target price on Amgen from $190.00 to $210.00 and gave the company an “overweight” rating in a research note on Thursday, July 26th. They noted that the move was a valuation call. BidaskClub upgraded Amgen from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 11th. Finally, Oppenheimer restated a “buy” rating and issued a $224.00 target price on shares of Amgen in a research note on Tuesday, August 28th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Amgen currently has a consensus rating of “Hold” and a consensus target price of $204.55.
Shares of NASDAQ AMGN opened at $187.06 on Monday. Amgen, Inc. has a fifty-two week low of $163.31 and a fifty-two week high of $210.19. The stock has a market capitalization of $119.20 billion, a P/E ratio of 13.48, a price-to-earnings-growth ratio of 1.95 and a beta of 1.37. The company has a current ratio of 3.08, a quick ratio of 2.84 and a debt-to-equity ratio of 2.05.
Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, October 30th. The medical research company reported $3.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.45 by $0.24. Amgen had a net margin of 9.44% and a return on equity of 54.14%. The business had revenue of $5.90 billion for the quarter, compared to analysts’ expectations of $5.78 billion. During the same quarter last year, the firm earned $3.27 EPS. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, sell-side analysts expect that Amgen, Inc. will post 14.21 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 7th. Investors of record on Friday, November 16th will be given a $1.32 dividend. The ex-dividend date is Thursday, November 15th. This represents a $5.28 annualized dividend and a yield of 2.82%. Amgen’s payout ratio is 41.97%.
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, nephrology, and neuroscience. The company's products include Evenity to treat osteoporosis in postmenopausal women; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Repatha to treat coronary diseases; Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Parsabiv to treat secondary hyperparathyroidism (sHPT); and Aimovig for the prevention of migraine.
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