Foster & Motley Inc. Sells 1,302 Shares of Amgen Inc. (NASDAQ:AMGN)

Foster & Motley Inc. decreased its holdings in Amgen Inc. (NASDAQ:AMGN) by 3.6% in the third quarter, Holdings Channel reports. The firm owned 35,235 shares of the medical research company’s stock after selling 1,302 shares during the period. Foster & Motley Inc.’s holdings in Amgen were worth $11,353,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Keynote Financial Services LLC boosted its holdings in shares of Amgen by 0.6% in the 2nd quarter. Keynote Financial Services LLC now owns 4,898 shares of the medical research company’s stock valued at $1,530,000 after purchasing an additional 30 shares during the last quarter. Ascent Group LLC grew its position in shares of Amgen by 0.3% during the 2nd quarter. Ascent Group LLC now owns 10,949 shares of the medical research company’s stock valued at $3,421,000 after buying an additional 31 shares during the last quarter. RFP Financial Group LLC boosted its stake in Amgen by 17.1% during the 1st quarter. RFP Financial Group LLC now owns 219 shares of the medical research company’s stock valued at $62,000 after purchasing an additional 32 shares during the period. Hofer & Associates. Inc boosted its stake in Amgen by 0.5% during the 2nd quarter. Hofer & Associates. Inc now owns 6,477 shares of the medical research company’s stock valued at $2,024,000 after purchasing an additional 32 shares during the period. Finally, Cadinha & Co. LLC boosted its stake in Amgen by 0.6% during the 3rd quarter. Cadinha & Co. LLC now owns 5,209 shares of the medical research company’s stock valued at $1,678,000 after purchasing an additional 32 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analyst Ratings Changes

AMGN has been the topic of a number of research reports. UBS Group dropped their target price on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Robert W. Baird reiterated an “underperform” rating and issued a $215.00 target price on shares of Amgen in a research note on Wednesday, September 25th. TD Cowen raised their target price on shares of Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Sanford C. Bernstein initiated coverage on shares of Amgen in a research report on Thursday, October 17th. They issued an “outperform” rating and a $380.00 price target on the stock. Finally, Oppenheimer restated an “outperform” rating and issued a $380.00 price target on shares of Amgen in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $333.50.

Amgen Stock Performance

Shares of AMGN opened at $319.29 on Wednesday. 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 twelve month low of $260.52 and a twelve month high of $346.85. The firm’s 50 day moving average price is $324.12 and its two-hundred day moving average price is $316.64. The firm has a market cap of $171.56 billion, a P/E ratio of 40.88, a PEG ratio of 2.81 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 EPS for the quarter, topping analysts’ consensus estimates of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The business had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. During the same quarter in the previous year, the firm posted $4.96 earnings per share. The firm’s revenue for the quarter was up 23.2% on a year-over-year basis. On average, analysts forecast that Amgen Inc. will post 19.49 EPS for the current fiscal year.

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Shareholders 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 annualized dividend and a dividend yield of 2.82%. Amgen’s dividend payout ratio is currently 115.24%.

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.