Amgen Inc. (NASDAQ:AMGN) Shares Sold by Courier Capital LLC

Courier Capital LLC lessened its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 4.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,537 shares of the medical research company’s stock after selling 749 shares during the quarter. Courier Capital LLC’s holdings in Amgen were worth $5,650,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in AMGN. Hershey Financial Advisers LLC acquired a new position in Amgen in the second quarter worth approximately $30,000. nVerses Capital LLC acquired a new position in Amgen in the second quarter worth approximately $31,000. Bbjs Financial Advisors LLC acquired a new position in Amgen in the second quarter worth approximately $33,000. Matrix Trust Co acquired a new position in Amgen in the third quarter worth approximately $36,000. Finally, FSA Wealth Management LLC grew its position in Amgen by 182.0% in the first quarter. FSA Wealth Management LLC now owns 141 shares of the medical research company’s stock worth $40,000 after buying an additional 91 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Stock Down 1.4 %

Shares of NASDAQ:AMGN traded down $4.51 during trading on Wednesday, reaching $315.15. 376,036 shares of the company traded hands, compared to its average volume of 2,431,741. 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 Inc. has a 1-year low of $249.70 and a 1-year high of $346.85. The firm has a fifty day simple moving average of $325.93 and a 200 day simple moving average of $313.11. The firm has a market cap 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.

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

Amgen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were paid a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.86%. The ex-dividend date was Friday, August 16th. Amgen’s payout ratio is presently 128.57%.

Analyst Ratings Changes

Several research firms have issued reports on AMGN. Barclays lifted their price target on shares of Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Robert W. Baird reiterated an “underperform” rating and set a $215.00 price objective on shares of Amgen in a research report on Wednesday, September 25th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $305.00 price objective (down from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $362.00 price objective on shares of Amgen in a research report on Thursday, September 26th. Finally, Argus lifted their price objective 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. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $332.55.

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.