Gamco Investors INC. ET AL Sells 455 Shares of Amgen Inc. (NASDAQ:AMGN)

Gamco Investors INC. ET AL lessened its position in Amgen Inc. (NASDAQ:AMGNFree Report) by 8.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,241 shares of the medical research company’s stock after selling 455 shares during the period. Gamco Investors INC. ET AL’s holdings in Amgen were worth $1,409,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Morgan Stanley grew its stake in shares of Amgen by 12.9% in the fourth quarter. Morgan Stanley now owns 13,301,365 shares of the medical research company’s stock worth $3,493,471,000 after purchasing an additional 1,523,665 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Amgen by 3.2% during the 2nd quarter. Geode Capital Management LLC now owns 11,799,183 shares of the medical research company’s stock worth $2,613,646,000 after buying an additional 368,924 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Amgen by 4.5% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 11,241,858 shares of the medical research company’s stock valued at $2,495,917,000 after buying an additional 480,421 shares during the last quarter. Moneta Group Investment Advisors LLC increased its stake in shares of Amgen by 83,875.6% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 7,541,011 shares of the medical research company’s stock valued at $1,980,571,000 after buying an additional 7,532,031 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Amgen by 1.1% during the third quarter. Bank of New York Mellon Corp now owns 5,437,182 shares of the medical research company’s stock worth $1,461,297,000 after acquiring an additional 61,528 shares during the last quarter. 74.44% of the stock is currently owned by institutional investors.

Insider Activity at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 2,096 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $273.03, for a total transaction of $572,270.88. Following the completion of the sale, the senior vice president now directly owns 10,874 shares of the company’s stock, valued at approximately $2,968,928.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.46% of the stock is owned by insiders.

Amgen Trading Down 1.3 %

NASDAQ AMGN opened at $291.12 on Friday. The company has a quick ratio of 2.56, a current ratio of 1.65 and a debt-to-equity ratio of 10.14. Amgen Inc. has a 52 week low of $211.71 and a 52 week high of $329.72. The business has a 50 day moving average price of $295.30 and a 200-day moving average price of $274.19. The company has a market cap of $155.80 billion, a price-to-earnings ratio of 23.31, a P/E/G ratio of 2.67 and a beta of 0.62.

Amgen (NASDAQ:AMGNGet Free Report) last posted its quarterly earnings results on Tuesday, February 6th. The medical research company reported $4.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.66 by $0.05. Amgen had a net margin of 23.83% and a return on equity of 154.27%. The business had revenue of $8.20 billion during the quarter, compared to the consensus estimate of $8.13 billion. During the same quarter last year, the firm posted $4.09 EPS. Amgen’s revenue was up 19.8% compared to the same quarter last year. As a group, equities analysts expect that Amgen Inc. will post 19.68 earnings per share for the current fiscal year.

Amgen Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 7th. Investors of record on Friday, February 16th will be issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date of this dividend is Thursday, February 15th. This is a positive change from Amgen’s previous quarterly dividend of $2.13. Amgen’s dividend payout ratio is currently 68.21%.

Wall Street Analyst Weigh In

Several brokerages recently commented on AMGN. Argus upped their target price on Amgen from $280.00 to $310.00 and gave the company a “buy” rating in a report on Tuesday, October 17th. Deutsche Bank Aktiengesellschaft began coverage on shares of Amgen in a research note on Thursday, November 9th. They issued a “hold” rating and a $240.00 price objective on the stock. Royal Bank of Canada boosted their target price on shares of Amgen from $303.00 to $329.00 and gave the company an “outperform” rating in a report on Wednesday. SVB Leerink downgraded Amgen from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $324.00 to $318.00 in a report on Wednesday. Finally, BMO Capital Markets raised Amgen from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $286.00 to $326.00 in a research note on Tuesday, December 19th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $295.30.

View Our Latest Research Report on AMGN

Amgen Profile

(Free Report)

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology, and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta that reduces the chance of infection due a low white blood cell count in patients cancer; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Beh├žet's disease; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; and Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization.

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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