Contravisory Investment Management Inc. Trims Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Contravisory Investment Management Inc. trimmed its holdings in Amgen Inc. (NASDAQ:AMGN) by 3.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,706 shares of the medical research company’s stock after selling 561 shares during the quarter. Contravisory Investment Management Inc.’s holdings in Amgen were worth $4,071,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of AMGN. State Street Corp raised its holdings in shares of Amgen by 19.1% in the third quarter. State Street Corp now owns 31,278,999 shares of the medical research company’s stock worth $7,949,870,000 after buying an additional 5,016,641 shares during the period. California Public Employees Retirement System raised its holdings in shares of Amgen by 42.8% in the third quarter. California Public Employees Retirement System now owns 1,956,860 shares of the medical research company’s stock worth $497,356,000 after buying an additional 586,896 shares during the period. Morgan Stanley raised its holdings in shares of Amgen by 7.0% in the third quarter. Morgan Stanley now owns 8,565,891 shares of the medical research company’s stock worth $2,177,107,000 after buying an additional 561,293 shares during the period. DekaBank Deutsche Girozentrale raised its holdings in shares of Amgen by 68.4% in the third quarter. DekaBank Deutsche Girozentrale now owns 979,155 shares of the medical research company’s stock worth $243,508,000 after buying an additional 397,749 shares during the period. Finally, Candriam Luxembourg S.C.A. raised its holdings in shares of Amgen by 44.9% in the third quarter. Candriam Luxembourg S.C.A. now owns 1,262,359 shares of the medical research company’s stock worth $320,827,000 after buying an additional 391,069 shares during the period. Hedge funds and other institutional investors own 75.23% of the company’s stock.

In related news, Director R Sanders Williams sold 250 shares of the stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $242.40, for a total value of $60,600.00. Following the transaction, the director now owns 4,909 shares in the company, valued at approximately $1,189,941.60. The sale was disclosed in a filing with the SEC, which is available through this link. 0.36% of the stock is currently owned by corporate insiders.

Shares of Amgen stock traded up $1.15 during midday trading on Wednesday, hitting $237.74. The company had a trading volume of 1,377,391 shares, compared to its average volume of 2,535,096. The stock has a market cap of $138.40 billion, a price-to-earnings ratio of 19.17, a PEG ratio of 1.85 and a beta of 0.76. The company has a quick ratio of 1.88, a current ratio of 2.28 and a debt-to-equity ratio of 3.12. The company has a fifty day simple moving average of $227.94 and a 200 day simple moving average of $238.44. Amgen Inc. has a 12-month low of $177.05 and a 12-month high of $264.97.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Monday, November 2nd. The medical research company reported $4.37 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.75 by $0.62. Amgen had a net margin of 29.42% and a return on equity of 95.55%. The firm had revenue of $6.42 billion during the quarter, compared to analyst estimates of $6.38 billion. As a group, analysts expect that Amgen Inc. will post 16.15 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 8th. Investors of record on Monday, February 15th will be issued a $1.76 dividend. This represents a $7.04 annualized dividend and a yield of 2.96%. The ex-dividend date is Thursday, February 11th. This is an increase from Amgen’s previous quarterly dividend of $1.60. Amgen’s dividend payout ratio is 43.18%.

Several research analysts have commented on AMGN shares. Morgan Stanley raised their price objective on Amgen from $275.00 to $276.00 and gave the stock an “overweight” rating in a report on Wednesday, December 16th. Raymond James upgraded Amgen from a “market perform” rating to an “outperform” rating and set a $255.00 price objective on the stock in a report on Monday, October 26th. Daiwa Capital Markets started coverage on Amgen in a report on Tuesday, December 29th. They set a “buy” rating and a $300.00 price objective on the stock. SVB Leerink raised their price objective on Amgen from $243.00 to $253.00 and gave the stock a “market perform” rating in a report on Wednesday, December 9th. Finally, BidaskClub upgraded Amgen from a “strong sell” rating to a “sell” rating in a report on Friday, January 1st. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and eighteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $254.92.

About Amgen

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, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Sensipar/Mimpara to treat secondary hyperparathyroidism; and EPOGEN to treat anemia caused by chronic kidney disease.

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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