First Business Financial Services Inc. Has $246,000 Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

First Business Financial Services Inc. lessened its stake in Amgen Inc. (NASDAQ:AMGN) by 17.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 762 shares of the medical research company’s stock after selling 157 shares during the quarter. First Business Financial Services Inc.’s holdings in Amgen were worth $246,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. M&G Plc bought a new stake in Amgen in the first quarter worth approximately $7,633,000. Pinkerton Retirement Specialists LLC grew its position in Amgen by 30.1% in the first quarter. Pinkerton Retirement Specialists LLC now owns 12,708 shares of the medical research company’s stock worth $3,613,000 after acquiring an additional 2,943 shares in the last quarter. Councilmark Asset Management LLC bought a new stake in Amgen in the first quarter worth approximately $2,891,000. Intech Investment Management LLC boosted its holdings in shares of Amgen by 18.9% during the 1st quarter. Intech Investment Management LLC now owns 35,673 shares of the medical research company’s stock worth $10,143,000 after buying an additional 5,668 shares during the period. Finally, Spirepoint Private Client LLC bought a new stake in shares of Amgen during the 1st quarter worth $1,110,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on AMGN shares. TD Cowen upped their price objective on shares of Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Dbs Bank raised shares of Amgen to a “strong-buy” rating in a report on Monday, September 16th. Robert W. Baird reaffirmed an “underperform” rating and set a $215.00 price objective on shares of Amgen in a report on Wednesday, September 25th. Wells Fargo & Company downgraded shares of Amgen from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $320.00 to $335.00 in a report on Wednesday, August 7th. Finally, Bank of America upped their price objective on shares of Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Amgen presently has a consensus rating of “Moderate Buy” and a consensus price target of $333.57.

Amgen Price Performance

NASDAQ AMGN opened at $295.93 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. Amgen Inc. has a 12-month low of $260.52 and a 12-month high of $346.85. The company has a market capitalization of $159.07 billion, a PE ratio of 37.89, a price-to-earnings-growth ratio of 2.69 and a beta of 0.60. The firm’s 50 day moving average is $322.15 and its 200-day moving average is $318.15.

Amgen (NASDAQ:AMGN) last issued its earnings results 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. The business had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The firm’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same period in the previous year, the company earned $4.96 earnings per share. Equities research analysts anticipate that Amgen Inc. will post 19.51 earnings per share for the current fiscal year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be issued a dividend of $2.25 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $9.00 dividend on an annualized basis and a yield of 3.04%. Amgen’s payout ratio is 115.24%.

About Amgen

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.