Freedom Investment Management Inc. Has $2.07 Million Holdings in Amgen Inc. (NASDAQ:AMGN)

Freedom Investment Management Inc. trimmed its position in Amgen Inc. (NASDAQ:AMGN) by 2.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,425 shares of the medical research company’s stock after selling 183 shares during the quarter. Freedom Investment Management Inc.’s holdings in Amgen were worth $2,070,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Keynote Financial Services LLC boosted its position in shares of Amgen by 0.6% in the second quarter. Keynote Financial Services LLC now owns 4,898 shares of the medical research company’s stock worth $1,530,000 after buying an additional 30 shares during the period. Ascent Group LLC boosted its position in Amgen by 0.3% during the 2nd quarter. Ascent Group LLC now owns 10,949 shares of the medical research company’s stock worth $3,421,000 after acquiring an additional 31 shares during the period. Hofer & Associates. Inc grew its stake in Amgen by 0.5% during the 2nd quarter. Hofer & Associates. Inc now owns 6,477 shares of the medical research company’s stock valued at $2,024,000 after acquiring an additional 32 shares in the last quarter. Cadinha & Co. LLC increased its holdings in shares of Amgen by 0.6% in the 3rd quarter. Cadinha & Co. LLC now owns 5,209 shares of the medical research company’s stock valued at $1,678,000 after purchasing an additional 32 shares during the period. Finally, Lansing Street Advisors boosted its holdings in shares of Amgen by 1.3% during the third quarter. Lansing Street Advisors now owns 2,582 shares of the medical research company’s stock worth $832,000 after purchasing an additional 32 shares during the period. 76.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. William Blair reiterated an “outperform” rating on shares of Amgen in a research report on Tuesday, November 12th. Wolfe Research began coverage on Amgen in a report on Friday, November 15th. They set a “peer perform” rating for the company. UBS Group lowered their target price on Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. TD Cowen raised their price target on Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Finally, Oppenheimer reissued an “outperform” rating and issued a $380.00 price target on shares of Amgen in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Amgen has a consensus rating of “Moderate Buy” and an average price target of $333.57.

Amgen Stock Performance

Shares of NASDAQ AMGN opened at $280.01 on Wednesday. Amgen Inc. has a 12 month low of $257.80 and a 12 month high of $346.85. The company has a market cap of $150.51 billion, a P/E ratio of 35.85, a P/E/G ratio of 2.62 and a beta of 0.60. The business’s 50 day moving average is $314.64 and its two-hundred day moving average is $317.84. 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 (NASDAQ:AMGN) last announced its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The business had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. During the same quarter in the previous year, the firm posted $4.96 earnings per share. Amgen’s revenue was up 23.2% compared to the same quarter last year. On average, equities analysts expect that Amgen Inc. will post 19.52 EPS for the current year.

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 18th will be given a $2.25 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.21%. Amgen’s dividend payout ratio is currently 115.24%.

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.