Investment House LLC Sells 2,031 Shares of Amgen Inc. (NASDAQ:AMGN)

Investment House LLC trimmed its position in Amgen Inc. (NASDAQ:AMGNFree Report) by 6.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,260 shares of the medical research company’s stock after selling 2,031 shares during the quarter. Investment House LLC’s holdings in Amgen were worth $7,595,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of AMGN. OFI Invest Asset Management purchased a new position in shares of Amgen in the third quarter worth about $26,000. Briaud Financial Planning Inc purchased a new position in shares of Amgen in the third quarter worth about $26,000. IAG Wealth Partners LLC raised its position in Amgen by 520.0% during the second quarter. IAG Wealth Partners LLC now owns 124 shares of the medical research company’s stock valued at $28,000 after acquiring an additional 104 shares in the last quarter. VisionPoint Advisory Group LLC purchased a new position in Amgen during the second quarter valued at approximately $28,000. Finally, Strategic Investment Solutions Inc. IL purchased a new position in Amgen during the first quarter valued at approximately $28,000. 74.44% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Trading Down 1.3 %

Shares of AMGN stock traded down $3.73 on Friday, hitting $291.12. The stock had a trading volume of 3,341,055 shares, compared to its average volume of 2,988,391. The company has a debt-to-equity ratio of 10.14, a current ratio of 1.65 and a quick ratio of 2.56. The firm has a market capitalization of $155.80 billion, a P/E ratio of 23.31, a P/E/G ratio of 2.74 and a beta of 0.62. Amgen Inc. has a 1 year low of $211.71 and a 1 year high of $329.72. The company’s 50 day moving average price is $295.30 and its 200-day moving average price is $274.47.

Amgen (NASDAQ:AMGNGet Free Report) last posted its quarterly earnings data on Tuesday, February 6th. The medical research company reported $4.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.66 by $0.05. The firm had revenue of $8.20 billion for the quarter, compared to the consensus estimate of $8.13 billion. Amgen had a return on equity of 154.27% and a net margin of 23.83%. The company’s quarterly revenue was up 19.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.09 EPS. Analysts anticipate that Amgen Inc. will post 19.54 earnings per share for the current year.

Amgen Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 7th. Investors of record on Friday, February 16th will be issued a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 3.09%. The ex-dividend date of this dividend is Thursday, February 15th. This is an increase from Amgen’s previous quarterly dividend of $2.13. Amgen’s payout ratio is currently 68.21%.

Insider Activity at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 2,096 shares of the company’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $273.03, for a total transaction of $572,270.88. Following the sale, the senior vice president now owns 10,874 shares in the company, valued at approximately $2,968,928.22. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. The Goldman Sachs Group lifted their price target on Amgen from $313.00 to $350.00 and gave the stock a “buy” rating in a research note on Wednesday. Morgan Stanley lowered their price target on Amgen from $281.00 to $278.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Deutsche Bank Aktiengesellschaft assumed coverage on Amgen in a research note on Thursday, November 9th. They set a “hold” rating and a $240.00 price objective on the stock. JPMorgan Chase & Co. reissued a “neutral” rating and set a $270.00 price objective on shares of Amgen in a research note on Friday, October 20th. Finally, StockNews.com lowered Amgen from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $295.30.

View Our Latest Report on AMGN

Amgen Profile

(Free Report)

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 that reduces the chance of infection due a low white blood cell count in patients cancer; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; and Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization.

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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