Amgen Inc. (NASDAQ:AMGN) Shares Sold by TCTC Holdings LLC

TCTC Holdings LLC decreased its stake in Amgen Inc. (NASDAQ:AMGN) by 2.6% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 34,173 shares of the medical research company’s stock after selling 901 shares during the period. TCTC Holdings LLC’s holdings in Amgen were worth $11,011,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Capital Performance Advisors LLP purchased a new position in Amgen during the 3rd quarter worth $25,000. Strategic Financial Concepts LLC purchased a new position in shares of Amgen during the second quarter worth about $26,000. Hershey Financial Advisers LLC purchased a new position in shares of Amgen during the second quarter worth about $30,000. nVerses Capital LLC acquired a new position in Amgen in the 2nd quarter valued at about $31,000. Finally, Bbjs Financial Advisors LLC acquired a new stake in Amgen during the 2nd quarter worth approximately $33,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Price Performance

Shares of NASDAQ AMGN opened at $325.28 on Friday. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. The company’s 50-day moving average price is $323.61 and its 200 day moving average price is $317.08. Amgen Inc. has a 52 week low of $260.52 and a 52 week high of $346.85. The stock has a market cap of $174.85 billion, a price-to-earnings ratio of 41.65, a PEG ratio of 2.79 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, topping analysts’ consensus estimates of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The business had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. During the same period last year, the company posted $4.96 EPS. The company’s revenue was up 23.2% on a year-over-year basis. As a group, research analysts forecast that Amgen Inc. will post 19.51 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be given a $2.25 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $9.00 annualized dividend and a dividend yield of 2.77%. Amgen’s dividend payout ratio is currently 115.24%.

Wall Street Analyst Weigh In

AMGN has been the topic of a number of recent research reports. Dbs Bank raised Amgen to a “strong-buy” rating in a report on Monday, September 16th. Barclays boosted their price objective on shares of Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Bank of America raised their target price on shares of Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Wells Fargo & Company lowered shares of Amgen from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $320.00 to $335.00 in a research note on Wednesday, August 7th. Finally, Sanford C. Bernstein began coverage on shares of Amgen in a research report on Thursday, October 17th. They issued an “outperform” rating and a $380.00 price objective for the company. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Amgen presently has a consensus rating of “Moderate Buy” and an average price target of $333.50.

Amgen Company Profile

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.