Boston Partners Sells 2,779 Shares of Amgen, Inc. (NASDAQ:AMGN)

Boston Partners cut its stake in shares of Amgen, Inc. (NASDAQ:AMGN) by 25.6% in the third quarter, HoldingsChannel reports. The fund owned 8,057 shares of the medical research company’s stock after selling 2,779 shares during the period. Boston Partners’ holdings in Amgen were worth $1,559,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the stock. Advisors Preferred LLC bought a new position in Amgen in the 2nd quarter worth approximately $30,000. Atwater Malick LLC purchased a new stake in Amgen during the 3rd quarter valued at $39,000. Ashburton Jersey Ltd purchased a new stake in Amgen during the 2nd quarter valued at $42,000. Next Capital Management LLC raised its holdings in Amgen by 42.5% during the 2nd quarter. Next Capital Management LLC now owns 238 shares of the medical research company’s stock valued at $44,000 after buying an additional 71 shares during the period. Finally, Strategic Blueprint LLC purchased a new stake in Amgen during the 3rd quarter valued at $45,000. Institutional investors own 76.64% of the company’s stock.

In other news, CFO David W. Meline sold 8,737 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $234.36, for a total value of $2,047,603.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ronald D. Sugar sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $193.58, for a total value of $387,160.00. Following the completion of the transaction, the director now owns 16,436 shares of the company’s stock, valued at $3,181,680.88. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,162 shares of company stock valued at $5,014,590. 0.25% of the stock is currently owned by company insiders.

A number of analysts have weighed in on AMGN shares. JPMorgan Chase & Co. reiterated a “hold” rating on shares of Amgen in a research note on Monday, September 30th. Leerink Swann increased their target price on Amgen from $189.00 to $205.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. BidaskClub upgraded Amgen from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, November 13th. SunTrust Banks started coverage on Amgen in a research note on Tuesday, November 12th. They issued a “buy” rating and a $256.00 target price on the stock. Finally, William Blair reiterated a “hold” rating on shares of Amgen in a research note on Friday, August 30th. Ten research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Amgen presently has an average rating of “Buy” and an average target price of $221.47.

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AMGN opened at $233.48 on Tuesday. Amgen, Inc. has a 12-month low of $166.30 and a 12-month high of $235.80. The company has a current ratio of 2.89, a quick ratio of 2.59 and a debt-to-equity ratio of 2.54. The business’s fifty day simple moving average is $217.12 and its 200-day simple moving average is $194.79. The company has a market capitalization of $139.47 billion, a price-to-earnings ratio of 16.21, a PEG ratio of 2.37 and a beta of 1.12.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, October 29th. The medical research company reported $3.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.53 by $0.13. Amgen had a return on equity of 80.26% and a net margin of 34.48%. The business had revenue of $5.74 billion for the quarter, compared to the consensus estimate of $5.63 billion. During the same quarter in the prior year, the company earned $3.69 EPS. The business’s revenue was down 2.8% compared to the same quarter last year. On average, equities research analysts predict that Amgen, Inc. will post 14.65 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be given a dividend of $1.45 per share. This represents a $5.80 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date is Thursday, November 14th. Amgen’s payout ratio is currently 40.28%.

Amgen Company Profile

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.

Further Reading: Net Margin – Understanding the Different Kinds of Profit

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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