AMF Tjanstepension AB Sells 37,935 Shares of Amgen Inc. (NASDAQ:AMGN)

AMF Tjanstepension AB lessened its holdings in Amgen Inc. (NASDAQ:AMGN) by 12.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 257,620 shares of the medical research company’s stock after selling 37,935 shares during the quarter. AMF Tjanstepension AB’s holdings in Amgen were worth $57,253,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Tanglewood Legacy Advisors LLC acquired a new position in shares of Amgen in the 4th quarter valued at $26,000. Ruedi Wealth Management Inc. bought a new position in Amgen during the fourth quarter worth about $27,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Amgen during the 1st quarter worth about $28,000. GW&K Investment Management LLC increased its stake in shares of Amgen by 200.0% in the 4th quarter. GW&K Investment Management LLC now owns 120 shares of the medical research company’s stock valued at $32,000 after acquiring an additional 80 shares during the last quarter. Finally, AXS Investments LLC acquired a new stake in shares of Amgen in the 4th quarter valued at approximately $33,000. Institutional investors and hedge funds own 74.44% of the company’s stock.

Insider Transactions at Amgen

In other news, EVP Murdo Gordon sold 9,558 shares of Amgen stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $262.43, for a total transaction of $2,508,305.94. Following the completion of the transaction, the executive vice president now directly owns 44,308 shares in the company, valued at approximately $11,627,748.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.46% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AMGN. Mizuho boosted their price objective on shares of Amgen from $214.00 to $223.00 and gave the company a “neutral” rating in a report on Monday, August 14th. Barclays lowered their target price on shares of Amgen from $225.00 to $210.00 in a research note on Tuesday, July 11th. Jefferies Financial Group upped their target price on shares of Amgen from $275.00 to $310.00 and gave the company a “buy” rating in a research note on Monday, August 14th. Credit Suisse Group lowered their target price on shares of Amgen from $220.00 to $200.00 in a research note on Wednesday, July 12th. Finally, StockNews.com raised shares of Amgen from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 8th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $264.19.

Amgen Stock Performance

Shares of AMGN opened at $259.32 on Thursday. Amgen Inc. has a 12 month low of $211.71 and a 12 month high of $296.67. The firm has a fifty day simple moving average of $245.86 and a 200 day simple moving average of $237.17. The stock has a market capitalization of $138.71 billion, a price-to-earnings ratio of 17.35, a PEG ratio of 3.20 and a beta of 0.61. The company has a current ratio of 2.77, a quick ratio of 2.48 and a debt-to-equity ratio of 8.76.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Thursday, August 3rd. The medical research company reported $5.00 EPS for the quarter, beating analysts’ consensus estimates of $4.44 by $0.56. The firm had revenue of $7 billion during the quarter, compared to analysts’ expectations of $6.66 billion. Amgen had a net margin of 30.02% and a return on equity of 196.60%. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter last year, the company posted $4.65 earnings per share. Research analysts forecast that Amgen Inc. will post 18.35 EPS for the current fiscal year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Friday, August 18th were paid a dividend of $2.13 per share. The ex-dividend date was Thursday, August 17th. This represents a $8.52 annualized dividend and a dividend yield of 3.29%. Amgen’s dividend payout ratio is currently 57.45%.

Amgen Company Profile

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 Behçet'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.