Essex Investment Management Co. LLC Decreases Position in Amgen Inc. (NASDAQ:AMGN)

Essex Investment Management Co. LLC trimmed its stake in shares of Amgen Inc. (NASDAQ:AMGNFree Report) by 15.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,664 shares of the medical research company’s stock after selling 672 shares during the quarter. Essex Investment Management Co. LLC’s holdings in Amgen were worth $985,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in AMGN. Roundview Capital LLC raised its position in shares of Amgen by 1.3% during the 1st quarter. Roundview Capital LLC now owns 8,383 shares of the medical research company’s stock worth $2,027,000 after purchasing an additional 107 shares during the period. Merit Financial Group LLC raised its position in shares of Amgen by 39.2% during the 1st quarter. Merit Financial Group LLC now owns 2,297 shares of the medical research company’s stock worth $555,000 after purchasing an additional 647 shares during the period. Ergoteles LLC acquired a new stake in shares of Amgen during the 1st quarter worth approximately $219,000. First Western Trust Bank bought a new position in Amgen in the 1st quarter worth approximately $334,000. Finally, Fuller & Thaler Asset Management Inc. grew its holdings in Amgen by 2.1% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 24,688 shares of the medical research company’s stock worth $5,970,000 after buying an additional 513 shares in the last quarter. 74.44% of the stock is currently owned by institutional investors and hedge funds.

Amgen Stock Performance

AMGN opened at $291.12 on Monday. The firm has a market cap of $155.80 billion, a PE ratio of 23.31, a P/E/G ratio of 2.74 and a beta of 0.62. The company has a quick ratio of 1.13, a current ratio of 1.65 and a debt-to-equity ratio of 10.14. The business has a fifty day simple moving average of $295.30 and a 200-day simple moving average of $274.74. Amgen Inc. has a fifty-two week low of $211.71 and a fifty-two week high of $329.72.

Amgen (NASDAQ:AMGNGet Free Report) last released its earnings results on Tuesday, February 6th. The medical research company reported $4.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.66 by $0.05. The company had revenue of $8.20 billion during the quarter, compared to analyst estimates of $8.13 billion. Amgen had a return on equity of 154.27% and a net margin of 23.83%. The company’s revenue for the quarter was up 19.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.09 earnings per share. As a group, equities analysts predict that Amgen Inc. will post 19.54 EPS for the current fiscal 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 dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 3.09%. This is a positive change from Amgen’s previous quarterly dividend of $2.13. The ex-dividend date of this dividend is Thursday, February 15th. Amgen’s dividend payout ratio (DPR) is currently 68.21%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on AMGN shares. BMO Capital Markets raised Amgen from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $286.00 to $326.00 in a report on Tuesday, December 19th. The Goldman Sachs Group increased their price objective on Amgen from $313.00 to $350.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. Deutsche Bank Aktiengesellschaft started coverage on Amgen in a report on Thursday, November 9th. They issued a “hold” rating and a $240.00 price objective for the company. SVB Leerink lowered Amgen from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $324.00 to $318.00 in a report on Wednesday, February 7th. Finally, Leerink Partnrs lowered Amgen from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Amgen has an average rating of “Moderate Buy” and an average price target of $295.30.

View Our Latest Analysis on AMGN

Insider Buying and Selling

In related news, SVP Nancy A. Grygiel sold 2,096 shares of the stock in a transaction on Monday, December 4th. The stock was sold at an average price of $273.03, for a total transaction of $572,270.88. Following the completion of the sale, the senior vice president now directly owns 10,874 shares in the company, valued at $2,968,928.22. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.57% of the stock is owned by corporate insiders.

About Amgen

(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 Beh├žet'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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