Flippin Bruce & Porter Inc. Sells 1,915 Shares of Amgen, Inc. (NASDAQ:AMGN)

Flippin Bruce & Porter Inc. cut its holdings in shares of Amgen, Inc. (NASDAQ:AMGN) by 5.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,137 shares of the medical research company’s stock after selling 1,915 shares during the period. Flippin Bruce & Porter Inc.’s holdings in Amgen were worth $6,799,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Pettyjohn Wood & White Inc. boosted its position in Amgen by 14.0% in the 3rd quarter. Pettyjohn Wood & White Inc. now owns 3,160 shares of the medical research company’s stock valued at $612,000 after buying an additional 387 shares during the last quarter. Thompson Investment Management Inc. boosted its position in Amgen by 1.1% in the 3rd quarter. Thompson Investment Management Inc. now owns 22,144 shares of the medical research company’s stock valued at $4,285,000 after buying an additional 247 shares during the last quarter. Unigestion Holding SA boosted its position in Amgen by 916.3% in the 3rd quarter. Unigestion Holding SA now owns 16,536 shares of the medical research company’s stock valued at $3,200,000 after buying an additional 14,909 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in Amgen by 0.7% in the 3rd quarter. Daiwa Securities Group Inc. now owns 38,048 shares of the medical research company’s stock valued at $7,362,000 after buying an additional 258 shares during the last quarter. Finally, First National Bank of Omaha boosted its position in Amgen by 2.9% in the 3rd quarter. First National Bank of Omaha now owns 27,133 shares of the medical research company’s stock valued at $5,250,000 after buying an additional 776 shares during the last quarter. Institutional investors and hedge funds own 76.33% of the company’s stock.

A number of research analysts have commented on AMGN shares. Oppenheimer set a $240.00 price objective on Amgen and gave the company a “buy” rating in a research report on Monday, September 9th. Cowen set a $231.00 price target on Amgen and gave the company a “buy” rating in a research note on Sunday, September 29th. JPMorgan Chase & Co. reissued a “hold” rating on shares of Amgen in a research note on Monday, September 30th. BMO Capital Markets set a $240.00 price target on Amgen and gave the company a “buy” rating in a research note on Monday, September 30th. Finally, Piper Jaffray Companies increased their price target on Amgen from $210.00 to $218.00 and gave the company an “overweight” rating in a research note on Monday, August 26th. Ten analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $219.56.

In related news, Director Ronald D. Sugar sold 2,000 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $193.58, for a total transaction of $387,160.00. Following the sale, the director now owns 16,436 shares of the company’s stock, valued at approximately $3,181,680.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director R Sanders Williams sold 425 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $215.45, for a total value of $91,566.25. Following the sale, the director now directly owns 5,413 shares in the company, valued at approximately $1,166,230.85. The disclosure for this sale can be found here. Insiders have sold a total of 17,851 shares of company stock worth $3,685,674 in the last ninety days. 0.25% of the stock is currently owned by company insiders.

Amgen stock traded up $3.12 during mid-day trading on Friday, hitting $221.11. 2,069,900 shares of the company’s stock were exchanged, compared to its average volume of 2,911,719. The firm has a market capitalization of $127.80 billion, a P/E ratio of 15.35, a PEG ratio of 2.21 and a beta of 1.09. Amgen, Inc. has a fifty-two week low of $166.30 and a fifty-two week high of $221.25. The company has a quick ratio of 2.59, a current ratio of 2.89 and a debt-to-equity ratio of 2.54. The company’s 50 day simple moving average is $202.75 and its 200-day simple moving average is $188.90.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, October 29th. The medical research company reported $3.66 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.53 by $0.13. The business had revenue of $5.74 billion for the quarter, compared to the consensus estimate of $5.63 billion. Amgen had a return on equity of 80.26% and a net margin of 34.48%. The firm’s revenue was down 2.8% compared to the same quarter last year. During the same quarter last year, the business posted $3.69 EPS. Research analysts expect that Amgen, Inc. will post 14.44 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be paid a dividend of $1.45 per share. This represents a $5.80 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend is Thursday, November 14th. Amgen’s payout ratio is presently 40.28%.

Amgen Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, and neuroscience. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Aranesp to treat anemia; Xgeva for skeletal-related events prevention; Sensipar/Mimpara products to treat sHPT in chronic kidney disease; and EPOGEN to treat a lower-than-normal number of red blood cells.

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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