Parsons Capital Management Inc. RI Sells 112 Shares of Amgen Inc. (NASDAQ:AMGN)

Parsons Capital Management Inc. RI cut its position in shares of Amgen Inc. (NASDAQ:AMGN) by 0.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 21,538 shares of the medical research company’s stock after selling 112 shares during the period. Parsons Capital Management Inc. RI’s holdings in Amgen were worth $5,614,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp grew its stake in shares of Amgen by 1.2% during the 3rd quarter. State Street Corp now owns 29,317,018 shares of the medical research company’s stock worth $9,446,236,000 after acquiring an additional 345,537 shares in the last quarter. Geode Capital Management LLC grew its position in Amgen by 0.9% in the third quarter. Geode Capital Management LLC now owns 12,122,889 shares of the medical research company’s stock valued at $3,893,771,000 after purchasing an additional 103,851 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Amgen by 2.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 10,532,629 shares of the medical research company’s stock valued at $3,393,718,000 after buying an additional 251,876 shares during the last quarter. Janus Henderson Group PLC increased its stake in Amgen by 11.7% in the 3rd quarter. Janus Henderson Group PLC now owns 5,143,330 shares of the medical research company’s stock valued at $1,657,183,000 after buying an additional 538,545 shares during the last quarter. Finally, Pathway Financial Advisers LLC boosted its stake in shares of Amgen by 33,125.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock worth $1,437,115,000 after buying an additional 4,446,757 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on AMGN shares. Sanford C. Bernstein began coverage on Amgen in a research report on Thursday, October 17th. They issued an “outperform” rating and a $380.00 target price on the stock. William Blair reiterated an “outperform” rating on shares of Amgen in a research note on Tuesday, November 12th. Wolfe Research started coverage on shares of Amgen in a research note on Friday, November 15th. They issued a “peer perform” rating for the company. Redburn Partners dropped their price target on shares of Amgen from $200.00 to $195.00 in a research report on Wednesday, November 27th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Amgen from $305.00 to $285.00 in a research report on Wednesday, November 27th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $314.65.

Amgen Trading Down 0.9 %

Shares of AMGN stock opened at $275.42 on Monday. The stock has a market cap of $148.05 billion, a P/E ratio of 35.27, a price-to-earnings-growth ratio of 2.78 and a beta of 0.56. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. The stock has a 50 day simple moving average of $271.39 and a 200 day simple moving average of $305.81.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $8.50 billion. During the same period in the previous year, the business earned $4.96 earnings per share. The company’s revenue was up 23.2% on a year-over-year basis. On average, research analysts predict that Amgen Inc. will post 19.56 earnings per share for the current fiscal year.

Amgen Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be issued a dividend of $2.38 per share. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a dividend yield of 3.46%. Amgen’s payout ratio is 115.24%.

Amgen Company 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.