Amgen Inc. (NASDAQ:AMGN) Shares Sold by KCM Investment Advisors LLC

KCM Investment Advisors LLC lessened its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 0.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 91,442 shares of the medical research company’s stock after selling 651 shares during the quarter. KCM Investment Advisors LLC’s holdings in Amgen were worth $29,464,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new position in shares of Amgen during the 3rd quarter worth $25,000. Hershey Financial Advisers LLC purchased a new position in shares of Amgen in the 2nd quarter worth $30,000. nVerses Capital LLC purchased a new position in shares of Amgen in the 2nd quarter worth $31,000. Bbjs Financial Advisors LLC purchased a new position in shares of Amgen in the 2nd quarter worth $33,000. Finally, Matrix Trust Co purchased a new position in shares of Amgen in the 3rd quarter worth $36,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Down 4.1 %

NASDAQ:AMGN traded down $12.28 during trading hours on Friday, hitting $283.65. 964,966 shares of the stock traded hands, compared to its average volume of 2,434,156. The firm has a 50 day moving average price of $321.59 and a 200 day moving average price of $318.00. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. Amgen Inc. has a fifty-two week low of $260.52 and a fifty-two week high of $346.85. The firm has a market cap of $152.47 billion, a price-to-earnings ratio of 36.44, a PEG ratio of 2.69 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, topping analysts’ consensus estimates of $5.11 by $0.47. The business had revenue of $8.50 billion for 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%. Amgen’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same period in the prior year, the business posted $4.96 earnings per share. Equities research analysts anticipate that Amgen Inc. will post 19.51 earnings per share for the current year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 18th will be issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date is Monday, November 18th. Amgen’s dividend payout ratio (DPR) is 115.24%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Barclays increased their target price on Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $362.00 target price on shares of Amgen in a research report on Thursday, September 26th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $305.00 price objective (down from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. Robert W. Baird reissued an “underperform” rating and issued a $215.00 price objective on shares of Amgen in a research report on Wednesday, September 25th. Finally, Oppenheimer reissued an “outperform” rating and issued a $380.00 price objective on shares of Amgen in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $333.57.

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.