Amgen Inc. (NASDAQ:AMGN) Position Trimmed by Easterly Investment Partners LLC

Easterly Investment Partners LLC trimmed its position in shares of Amgen Inc. (NASDAQ:AMGN) by 6.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,948 shares of the medical research company’s stock after selling 3,665 shares during the period. Amgen comprises approximately 1.3% of Easterly Investment Partners LLC’s portfolio, making the stock its 12th biggest holding. Easterly Investment Partners LLC’s holdings in Amgen were worth $16,738,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in AMGN. Capital Performance Advisors LLP bought a new stake in Amgen during the 3rd quarter valued at approximately $25,000. Strategic Financial Concepts LLC bought a new stake in shares of Amgen in the 2nd quarter valued at approximately $26,000. Hershey Financial Advisers LLC bought a new position in shares of Amgen during the 2nd quarter worth approximately $30,000. nVerses Capital LLC acquired a new stake in shares of Amgen in the 2nd quarter valued at $31,000. Finally, Bbjs Financial Advisors LLC bought a new stake in Amgen during the second quarter worth about $33,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Stock Up 1.4 %

AMGN stock traded up $4.57 during mid-day trading on Friday, hitting $326.48. 273,850 shares of the company were exchanged, compared to its average volume of 2,402,465. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. Amgen Inc. has a 1-year low of $260.52 and a 1-year high of $346.85. The firm’s 50 day simple moving average is $323.96 and its 200 day simple moving average is $316.68. The firm has a market cap of $175.49 billion, a P/E ratio of 41.22, a P/E/G ratio of 2.79 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.11 by $0.47. The company had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The firm’s revenue was up 23.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.96 earnings per share. On average, sell-side analysts predict that Amgen Inc. will post 19.51 EPS for the current fiscal year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be issued a $2.25 dividend. The ex-dividend date is Monday, November 18th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.76%. Amgen’s dividend payout ratio (DPR) is 115.24%.

Analyst Ratings Changes

A number of brokerages have weighed in on AMGN. Barclays boosted their target price on shares of Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Jefferies Financial Group reissued a “buy” rating and issued a $380.00 target price (up from $375.00) on shares of Amgen in a research note on Wednesday, August 7th. Oppenheimer reaffirmed an “outperform” rating and set a $380.00 price target on shares of Amgen in a research note on Wednesday, August 7th. TD Cowen boosted their price objective on Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Finally, Dbs Bank upgraded shares of Amgen to a “strong-buy” rating in a research report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Amgen has an average rating of “Moderate Buy” and an average target price of $333.50.

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.