Amgen Inc. (NASDAQ:AMGN) Shares Sold by Bridges Investment Management Inc.

Bridges Investment Management Inc. cut its holdings in Amgen Inc. (NASDAQ:AMGN) by 1.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 93,542 shares of the medical research company’s stock after selling 961 shares during the period. Bridges Investment Management Inc.’s holdings in Amgen were worth $30,140,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in AMGN. AIA Group Ltd purchased a new stake in shares of Amgen in the 1st quarter valued at approximately $612,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Amgen in the 1st quarter valued at $2,957,000. Montag A & Associates Inc. boosted its holdings in Amgen by 84.8% during the 1st quarter. Montag A & Associates Inc. now owns 5,775 shares of the medical research company’s stock valued at $1,642,000 after acquiring an additional 2,650 shares during the period. Atomi Financial Group Inc. increased its stake in Amgen by 115.1% during the first quarter. Atomi Financial Group Inc. now owns 3,736 shares of the medical research company’s stock worth $1,062,000 after purchasing an additional 1,999 shares during the period. Finally, Chilton Capital Management LLC grew its holdings in shares of Amgen by 5.9% in the first quarter. Chilton Capital Management LLC now owns 67,615 shares of the medical research company’s stock valued at $19,224,000 after purchasing an additional 3,773 shares in the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AMGN has been the subject of a number of recent research reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $405.00 target price on shares of Amgen in a report on Tuesday, October 22nd. Dbs Bank raised shares of Amgen to a “strong-buy” rating in a report on Monday, September 16th. Sanford C. Bernstein initiated coverage on shares of Amgen in a report on Thursday, October 17th. They set an “outperform” rating and a $380.00 price target for the company. StockNews.com upgraded Amgen from a “buy” rating to a “strong-buy” rating in a report on Friday, November 1st. Finally, TD Cowen boosted their target price on Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $333.50.

Amgen Trading Up 1.0 %

NASDAQ:AMGN opened at $325.28 on Friday. Amgen Inc. has a 12-month low of $260.52 and a 12-month high of $346.85. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. The stock’s 50 day simple moving average is $323.61 and its 200-day simple moving average is $317.08. The firm has a market cap of $174.85 billion, a P/E ratio of 41.65, a PEG ratio of 2.79 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The company had revenue of $8.50 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. Equities analysts anticipate that Amgen Inc. will post 19.51 EPS for the current year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 18th will be given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s payout ratio is 115.24%.

Amgen Company 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.