Donaldson Capital Management LLC Cuts Stake in Amgen Inc. (NASDAQ:AMGN)

Donaldson Capital Management LLC lessened its stake in Amgen Inc. (NASDAQ:AMGN) by 7.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,496 shares of the medical research company’s stock after selling 795 shares during the quarter. Donaldson Capital Management LLC’s holdings in Amgen were worth $3,060,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Hershey Financial Advisers LLC purchased a new stake in Amgen in the 2nd quarter worth $30,000. nVerses Capital LLC bought a new stake in shares of Amgen in the second quarter worth about $31,000. Bbjs Financial Advisors LLC purchased a new stake in shares of Amgen in the second quarter worth about $33,000. Matrix Trust Co bought a new position in Amgen during the third quarter valued at approximately $36,000. Finally, FSA Wealth Management LLC grew its holdings in Amgen by 182.0% during the 1st quarter. FSA Wealth Management LLC now owns 141 shares of the medical research company’s stock valued at $40,000 after buying an additional 91 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Barclays increased their target price on Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Dbs Bank upgraded shares of Amgen to a “strong-buy” rating in a research report on Monday, September 16th. TD Cowen boosted their target price on shares of Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Royal Bank of Canada reiterated an “outperform” rating and issued a $362.00 price target on shares of Amgen in a research report on Thursday, September 26th. Finally, Bank of America boosted their price objective on Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $333.50.

Amgen Stock Performance

Shares of NASDAQ:AMGN opened at $319.22 on Monday. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.89 and a current ratio of 1.32. The firm has a market cap of $171.53 billion, a PE ratio of 40.87, a price-to-earnings-growth ratio of 2.89 and a beta of 0.60. The firm’s 50 day simple moving average is $324.47 and its 200-day simple moving average is $315.90. Amgen Inc. has a one year low of $260.52 and a one year high of $346.85.

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, beating analysts’ consensus estimates of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The business had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.50 billion. During the same period in the previous year, the company posted $4.96 EPS. Amgen’s revenue was up 23.2% on a year-over-year basis. As a group, equities analysts predict that Amgen Inc. will post 19.45 EPS for the current year.

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be paid a dividend of $2.25 per share. The ex-dividend date is Monday, November 18th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.82%. Amgen’s dividend payout ratio is presently 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.