Amgen Inc. (NASDAQ:AMGN) Shares Sold by Logan Capital Management Inc.

Logan Capital Management Inc. trimmed its position in Amgen Inc. (NASDAQ:AMGN) by 4.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 26,709 shares of the medical research company’s stock after selling 1,333 shares during the period. Logan Capital Management Inc.’s holdings in Amgen were worth $8,606,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Fidelity D & D Bancorp Inc. increased its position in shares of Amgen by 9.8% during the third quarter. Fidelity D & D Bancorp Inc. now owns 977 shares of the medical research company’s stock worth $315,000 after purchasing an additional 87 shares in the last quarter. Old North State Trust LLC boosted its stake in Amgen by 6.7% during the 3rd quarter. Old North State Trust LLC now owns 1,666 shares of the medical research company’s stock worth $537,000 after purchasing an additional 104 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Amgen by 3.7% during the third quarter. Franklin Resources Inc. now owns 2,156,091 shares of the medical research company’s stock worth $699,910,000 after buying an additional 76,798 shares in the last quarter. Asset Advisors Investment Management LLC raised its position in shares of Amgen by 9.0% in the third quarter. Asset Advisors Investment Management LLC now owns 35,934 shares of the medical research company’s stock valued at $11,578,000 after buying an additional 2,954 shares during the last quarter. Finally, Synovus Financial Corp lifted its stake in shares of Amgen by 3.2% in the third quarter. Synovus Financial Corp now owns 65,564 shares of the medical research company’s stock worth $21,124,000 after buying an additional 2,046 shares in the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Stock Down 0.6 %

Shares of AMGN stock traded down $1.66 during trading on Friday, reaching $272.40. The company’s stock had a trading volume of 98,604 shares, compared to its average volume of 2,609,521. The stock’s 50-day moving average price is $303.00 and its 200 day moving average price is $314.87. The company has a market capitalization of $146.42 billion, a price-to-earnings ratio of 35.09, a P/E/G ratio of 2.91 and a beta of 0.55. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. Amgen Inc. has a 1-year low of $257.80 and a 1-year high of $346.85.

Amgen (NASDAQ:AMGN) last released its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) 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 firm had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.50 billion. During the same period last year, the business posted $4.96 earnings per share. Amgen’s revenue was up 23.2% compared to the same quarter last year. On average, research analysts anticipate that Amgen Inc. will post 19.53 EPS for the current year.

Amgen Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be issued a $2.38 dividend. This is a boost from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Friday, February 14th. This represents a $9.52 annualized dividend and a yield of 3.49%. Amgen’s dividend payout ratio (DPR) is 115.24%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Royal Bank of Canada cut their price target on Amgen from $360.00 to $330.00 and set an “outperform” rating for the company in a report on Wednesday, November 27th. Bank of America reaffirmed an “underperform” rating and issued a $256.00 target price on shares of Amgen in a research note on Tuesday. StockNews.com raised shares of Amgen from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Cantor Fitzgerald restated an “overweight” rating and set a $405.00 price objective on shares of Amgen in a research report on Tuesday, October 22nd. Finally, Leerink Partners decreased their target price on shares of Amgen from $349.00 to $302.00 in a report on Wednesday, November 27th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $319.68.

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.