First Trust Advisors LP Cuts Holdings in Amgen, Inc. (NASDAQ:AMGN)

First Trust Advisors LP lessened its stake in Amgen, Inc. (NASDAQ:AMGN) by 11.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,062,391 shares of the medical research company’s stock after selling 134,317 shares during the period. First Trust Advisors LP owned approximately 0.18% of Amgen worth $205,583,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in AMGN. Nuveen Asset Management LLC grew its stake in Amgen by 1,334.9% in the 2nd quarter. Nuveen Asset Management LLC now owns 4,942,807 shares of the medical research company’s stock worth $910,860,000 after buying an additional 4,598,329 shares in the last quarter. Thoroughbred Financial Services LLC boosted its stake in shares of Amgen by 19,447.3% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 1,805,392 shares of the medical research company’s stock valued at $180,539,000 after purchasing an additional 1,796,156 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Amgen by 3.4% in the 2nd quarter. BlackRock Inc. now owns 47,717,316 shares of the medical research company’s stock valued at $8,793,346,000 after purchasing an additional 1,585,911 shares in the last quarter. Ruffer LLP purchased a new stake in shares of Amgen in the 2nd quarter valued at $192,788,000. Finally, Railway Pension Investments Ltd boosted its stake in shares of Amgen by 158.2% in the 3rd quarter. Railway Pension Investments Ltd now owns 651,796 shares of the medical research company’s stock valued at $126,129,000 after purchasing an additional 399,317 shares in the last quarter. 76.33% of the stock is owned by institutional investors and hedge funds.

In related news, Director Ronald D. Sugar sold 2,000 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $206.70, for a total transaction of $413,400.00. Following the sale, the director now directly owns 16,336 shares of the company’s stock, valued at approximately $3,376,651.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Cynthia M. Patton sold 13,426 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $208.07, for a total transaction of $2,793,547.82. Following the sale, the senior vice president now directly owns 32,648 shares in the company, valued at $6,793,069.36. The disclosure for this sale can be found here. Insiders sold a total of 17,851 shares of company stock valued at $3,685,674 over the last 90 days. Company insiders own 0.25% of the company’s stock.

A number of equities research analysts have recently issued reports on the stock. Oppenheimer set a $240.00 price objective on shares of Amgen and gave the company a “buy” rating in a research note on Monday, September 9th. Sanford C. Bernstein assumed coverage on shares of Amgen in a research note on Monday, October 14th. They issued an “outperform” rating for the company. Cowen set a $231.00 price objective on shares of Amgen and gave the company a “buy” rating in a research note on Sunday, September 29th. Piper Jaffray Companies upped their price objective on shares of Amgen from $210.00 to $218.00 and gave the company an “overweight” rating in a research note on Monday, August 26th. Finally, Bank of America assumed coverage on shares of Amgen in a research note on Wednesday, October 16th. They issued a “neutral” rating and a $215.00 price objective for the company. Ten investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $219.56.

NASDAQ AMGN traded up $3.12 during trading on Friday, hitting $221.11. The company had a trading volume of 2,069,905 shares, compared to its average volume of 2,911,719. The company has a current ratio of 2.89, a quick ratio of 2.59 and a debt-to-equity ratio of 2.54. Amgen, Inc. has a one year low of $166.30 and a one year high of $221.25. The company has a market cap of $127.80 billion, a price-to-earnings ratio of 15.35, a price-to-earnings-growth ratio of 2.21 and a beta of 1.09. The company’s fifty day moving average is $202.27 and its 200-day moving average is $188.68.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, October 29th. The medical research company reported $3.66 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.53 by $0.13. Amgen had a net margin of 34.48% and a return on equity of 80.26%. The business had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.63 billion. During the same period in the prior year, the business earned $3.69 EPS. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. As a group, equities analysts anticipate that Amgen, Inc. will post 14.44 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be issued a $1.45 dividend. The ex-dividend date is Thursday, November 14th. This represents a $5.80 annualized dividend and a yield of 2.62%. Amgen’s dividend payout ratio (DPR) is presently 40.28%.

About Amgen

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, and neuroscience. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Aranesp to treat anemia; Xgeva for skeletal-related events prevention; Sensipar/Mimpara products to treat sHPT in chronic kidney disease; and EPOGEN to treat a lower-than-normal number of red blood cells.

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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