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

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

Other institutional investors and hedge funds have also bought and sold shares of the company. Claro Advisors LLC grew its position in Amgen by 6.9% during the second quarter. Claro Advisors LLC now owns 1,868 shares of the medical research company’s stock valued at $415,000 after acquiring an additional 120 shares during the last quarter. Reuter James Wealth Management LLC grew its position in Amgen by 48.0% during the second quarter. Reuter James Wealth Management LLC now owns 4,363 shares of the medical research company’s stock valued at $969,000 after acquiring an additional 1,416 shares during the last quarter. Nicolet Advisory Services LLC grew its position in Amgen by 4.4% during the third quarter. Nicolet Advisory Services LLC now owns 2,805 shares of the medical research company’s stock valued at $745,000 after acquiring an additional 117 shares during the last quarter. Fortune Financial Advisors LLC bought a new position in Amgen during the second quarter valued at approximately $230,000. Finally, Platform Technology Partners grew its position in Amgen by 7.4% during the third quarter. Platform Technology Partners now owns 5,830 shares of the medical research company’s stock valued at $1,567,000 after acquiring an additional 402 shares during the last quarter. 74.44% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 2,096 shares of the firm’s 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 transaction, the senior vice president now owns 10,874 shares of the company’s stock, valued at $2,968,928.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.57% of the company’s stock.

Amgen Stock Performance

Shares of AMGN stock opened at $291.12 on Monday. 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 firm has a market capitalization of $155.80 billion, a price-to-earnings ratio of 23.31, a PEG ratio of 2.74 and a beta of 0.62. The stock has a fifty day moving average of $295.30 and a 200 day moving average of $274.74. Amgen Inc. has a 52 week low of $211.71 and a 52 week high of $329.72.

Amgen (NASDAQ:AMGNGet Free Report) last announced its quarterly earnings data on Tuesday, February 6th. The medical research company reported $4.71 EPS for the quarter, beating the consensus estimate of $4.66 by $0.05. The business 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 last year, the firm posted $4.09 earnings per share. As a group, research analysts expect that Amgen Inc. will post 19.54 earnings per share for the current year.

Amgen Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 7th. Shareholders of record on Friday, February 16th will be given a dividend of $2.25 per share. The ex-dividend date is Thursday, February 15th. This represents a $9.00 annualized dividend and a yield of 3.09%. This is a positive change from Amgen’s previous quarterly dividend of $2.13. Amgen’s dividend payout ratio (DPR) is currently 68.21%.

Analyst Upgrades and Downgrades

AMGN has been the topic of a number of recent research reports. Leerink Partnrs cut shares of Amgen from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 7th. UBS Group dropped their price objective on Amgen from $315.00 to $314.00 and set a “neutral” rating for the company in a research note on Monday, January 29th. Argus increased their price objective on Amgen from $280.00 to $310.00 and gave the company a “buy” rating in a research note on Tuesday, October 17th. SVB Leerink lowered Amgen from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $324.00 to $318.00 in a research note on Wednesday, February 7th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Amgen in a research note on Thursday, November 9th. They set a “hold” rating and a $240.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Amgen has an average rating of “Moderate Buy” and a consensus price target of $295.30.

Read Our Latest Report on Amgen

Amgen Company Profile

(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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