Amgen Inc. (NASDAQ:AMGN) Stock Position Decreased by Argus Investors Counsel Inc.

Argus Investors Counsel Inc. decreased its position in Amgen Inc. (NASDAQ:AMGN) by 19.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,826 shares of the medical research company’s stock after selling 921 shares during the period. Argus Investors Counsel Inc.’s holdings in Amgen were worth $1,233,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in Amgen by 6.2% in the 1st quarter. Vanguard Group Inc. now owns 52,088,210 shares of the medical research company’s stock valued at $14,809,720,000 after buying an additional 3,045,657 shares during the period. Capital International Investors boosted its holdings in Amgen by 547.8% in the 1st quarter. Capital International Investors now owns 7,005,269 shares of the medical research company’s stock valued at $1,991,738,000 after purchasing an additional 5,923,915 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Amgen by 6.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,701,631 shares of the medical research company’s stock worth $844,137,000 after acquiring an additional 162,223 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of Amgen by 137.1% during the 1st quarter. Janus Henderson Group PLC now owns 2,381,133 shares of the medical research company’s stock worth $676,984,000 after acquiring an additional 1,377,007 shares during the period. Finally, Boston Partners lifted its holdings in shares of Amgen by 27.4% during the 1st quarter. Boston Partners now owns 2,237,334 shares of the medical research company’s stock worth $635,179,000 after acquiring an additional 481,214 shares during the period. 76.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AMGN has been the subject of a number of recent analyst reports. Wells Fargo & Company cut shares of Amgen from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $320.00 to $335.00 in a research report on Wednesday, August 7th. Dbs Bank raised shares of Amgen to a “strong-buy” rating in a research note on Monday, September 16th. Cantor Fitzgerald reissued an “overweight” rating and set a $405.00 price objective on shares of Amgen in a research note on Tuesday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $362.00 price target on shares of Amgen in a research note on Thursday, September 26th. Finally, TD Cowen lifted their price target on shares of Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a research note on Monday. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $332.55.

Amgen Trading Down 0.3 %

Shares of Amgen stock traded down $0.91 on Tuesday, hitting $315.83. The stock had a trading volume of 336,019 shares, compared to its average volume of 2,433,139. The stock has a 50 day moving average of $326.00 and a 200 day moving average of $312.76. Amgen Inc. has a twelve month low of $249.70 and a twelve month high of $346.85. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.89 and a current ratio of 1.26. The firm has a market capitalization of $169.42 billion, a P/E ratio of 45.06, a PEG ratio of 2.86 and a beta of 0.61.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). The firm had revenue of $8.39 billion for the quarter, compared to analyst estimates of $8.35 billion. Amgen had a net margin of 10.12% and a return on equity of 161.72%. The business’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period in the prior year, the company posted $5.00 EPS. Sell-side analysts expect that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were paid a $2.25 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $9.00 annualized dividend and a dividend yield of 2.85%. Amgen’s dividend payout ratio is currently 128.57%.

Amgen 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.