Victory Capital Management Inc. Sells 112,730 Shares of Amgen Inc. (NASDAQ:AMGN)

Victory Capital Management Inc. reduced its position in shares of Amgen Inc. (NASDAQ:AMGN) by 11.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 863,014 shares of the medical research company’s stock after selling 112,730 shares during the period. Victory Capital Management Inc. owned about 0.16% of Amgen worth $248,565,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. OFI Invest Asset Management bought a new stake in Amgen in the third quarter valued at approximately $26,000. Briaud Financial Planning Inc bought a new stake in Amgen in the third quarter valued at approximately $26,000. BOK Financial Private Wealth Inc. bought a new stake in Amgen in the fourth quarter valued at approximately $29,000. Providence Capital Advisors LLC bought a new stake in Amgen in the third quarter valued at approximately $30,000. Finally, Planned Solutions Inc. bought a new stake in Amgen in the fourth quarter valued at approximately $30,000. 76.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on AMGN shares. TD Cowen reduced their target price on Amgen from $370.00 to $360.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. SVB Leerink cut Amgen from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $324.00 to $318.00 in a report on Wednesday, February 7th. Leerink Partnrs cut Amgen from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 7th. Morgan Stanley cut their price target on Amgen from $281.00 to $278.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 7th. Finally, The Goldman Sachs Group increased their price target on Amgen from $313.00 to $350.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. Ten equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Amgen has a consensus rating of “Moderate Buy” and an average target price of $297.40.

Amgen Stock Performance

NASDAQ AMGN opened at $277.37 on Thursday. The company has a debt-to-equity ratio of 10.14, a current ratio of 1.65 and a quick ratio of 1.13. The company has a fifty day moving average price of $274.64 and a 200-day moving average price of $281.35. Amgen Inc. has a 1 year low of $211.71 and a 1 year high of $329.72. The firm has a market cap of $148.78 billion, a price-to-earnings ratio of 22.21, a PEG ratio of 2.65 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last posted 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. Amgen had a net margin of 23.83% and a return on equity of 154.27%. The firm had revenue of $8.20 billion during the quarter, compared to analyst estimates of $8.13 billion. During the same quarter last year, the business posted $4.09 EPS. The company’s revenue for the quarter was up 19.8% on a year-over-year basis. As a group, equities research analysts predict that Amgen Inc. will post 19.43 EPS for the current fiscal year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date is Thursday, May 16th. Amgen’s payout ratio is 72.06%.

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.