Sustainable Insight Capital Management LLC Cuts Stake in Amgen, Inc. (AMGN)

Sustainable Insight Capital Management LLC decreased its stake in shares of Amgen, Inc. (NASDAQ:AMGN) by 80.7% during the third quarter, HoldingsChannel reports. The firm owned 1,533 shares of the medical research company’s stock after selling 6,401 shares during the quarter. Sustainable Insight Capital Management LLC’s holdings in Amgen were worth $318,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC boosted its stake in Amgen by 4.4% during the third quarter. FMR LLC now owns 35,823,268 shares of the medical research company’s stock worth $7,425,805,000 after acquiring an additional 1,505,266 shares in the last quarter. LSV Asset Management boosted its stake in Amgen by 3.2% during the second quarter. LSV Asset Management now owns 4,157,649 shares of the medical research company’s stock worth $767,460,000 after acquiring an additional 128,865 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Amgen by 2.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 3,207,242 shares of the medical research company’s stock worth $592,025,000 after acquiring an additional 72,205 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Amgen by 17.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,365,045 shares of the medical research company’s stock worth $436,551,000 after acquiring an additional 343,690 shares in the last quarter. Finally, Bank of Montreal Can boosted its stake in Amgen by 13.4% during the third quarter. Bank of Montreal Can now owns 2,328,857 shares of the medical research company’s stock worth $482,749,000 after acquiring an additional 275,469 shares in the last quarter. 77.91% of the stock is currently owned by hedge funds and other institutional investors.

AMGN opened at $208.25 on Friday. The company has a debt-to-equity ratio of 2.05, a current ratio of 3.08 and a quick ratio of 2.84. Amgen, Inc. has a twelve month low of $163.31 and a twelve month high of $210.19. The company has a market cap of $128.35 billion, a PE ratio of 16.55, a P/E/G ratio of 2.09 and a beta of 1.37.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, October 30th. The medical research company reported $3.69 earnings per share for the quarter, beating the consensus estimate of $3.45 by $0.24. Amgen had a net margin of 9.44% and a return on equity of 54.14%. The firm had revenue of $5.90 billion during the quarter, compared to analysts’ expectations of $5.78 billion. During the same period in the previous year, the company earned $3.27 earnings per share. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. As a group, research analysts predict that Amgen, Inc. will post 14.24 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 7th. Stockholders of record on Friday, November 16th will be issued a dividend of $1.32 per share. The ex-dividend date of this dividend is Thursday, November 15th. This represents a $5.28 annualized dividend and a dividend yield of 2.54%. Amgen’s payout ratio is 41.97%.

Several research firms recently commented on AMGN. BidaskClub raised shares of Amgen from a “buy” rating to a “strong-buy” rating in a research note on Friday. Royal Bank of Canada reissued a “neutral” rating on shares of Amgen in a research note on Thursday, November 1st. Citigroup boosted their price objective on shares of Amgen from $200.00 to $204.00 and gave the stock a “neutral” rating in a research note on Thursday, November 1st. Goldman Sachs Group reaffirmed a “buy” rating and issued a $221.00 target price on shares of Amgen in a report on Wednesday, October 31st. Finally, Morgan Stanley lifted their target price on shares of Amgen from $212.00 to $213.00 and gave the stock a “buy” rating in a report on Wednesday, October 31st. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Amgen currently has a consensus rating of “Hold” and a consensus price target of $204.55.

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Amgen Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, nephrology, and neuroscience. The company's products include Evenity to treat osteoporosis in postmenopausal women; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Repatha to treat coronary diseases; Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Parsabiv to treat secondary hyperparathyroidism (sHPT); and Aimovig for the prevention of migraine.

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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