Gyroscope Capital Management Group LLC cut its position in shares of Amgen, Inc. (NASDAQ:AMGN) by 51.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,184 shares of the medical research company’s stock after selling 1,266 shares during the quarter. Gyroscope Capital Management Group LLC’s holdings in Amgen were worth $221,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of AMGN. Toronto Dominion Bank grew its holdings in Amgen by 11.0% in the third quarter. Toronto Dominion Bank now owns 279,280 shares of the medical research company’s stock valued at $52,066,000 after purchasing an additional 27,726 shares during the period. Welch Group LLC purchased a new stake in Amgen in the second quarter valued at approximately $639,000. DekaBank Deutsche Girozentrale grew its holdings in Amgen by 2.8% in the second quarter. DekaBank Deutsche Girozentrale now owns 883,579 shares of the medical research company’s stock valued at $152,927,000 after purchasing an additional 24,219 shares during the period. Pacer Advisors Inc. grew its holdings in Amgen by 10.3% in the second quarter. Pacer Advisors Inc. now owns 25,378 shares of the medical research company’s stock valued at $4,371,000 after purchasing an additional 2,362 shares during the period. Finally, Teacher Retirement System of Texas lifted its position in Amgen by 16.5% during the third quarter. Teacher Retirement System of Texas now owns 740,764 shares of the medical research company’s stock valued at $138,115,000 after buying an additional 104,871 shares in the last quarter. Institutional investors and hedge funds own 78.95% of the company’s stock.

A number of research analysts have weighed in on the stock. Mizuho reaffirmed a “buy” rating and set a $200.00 price target (up from $192.00) on shares of Amgen in a research report on Monday. Leerink Swann reaffirmed a “market perform” rating on shares of Amgen in a research report on Friday, February 2nd. Atlantic Securities cut shares of Amgen from an “overweight” rating to a “neutral” rating and set a $187.01 price target on the stock. in a research report on Monday, February 5th. Royal Bank of Canada reduced their price target on shares of Amgen from $192.00 to $188.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 26th. Finally, Oppenheimer set a $205.00 price target on shares of Amgen and gave the company a “buy” rating in a research report on Friday, January 5th. Sixteen research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $191.84.

Amgen, Inc. (NASDAQ AMGN) opened at $174.87 on Tuesday. Amgen, Inc. has a 12-month low of $152.16 and a 12-month high of $201.23. The company has a debt-to-equity ratio of 1.35, a quick ratio of 5.17 and a current ratio of 5.49. The company has a market cap of $125,121.81, a price-to-earnings ratio of 13.79, a PEG ratio of 2.13 and a beta of 1.42.

Amgen (NASDAQ:AMGN) last posted its earnings results on Thursday, February 1st. The medical research company reported $2.89 EPS for the quarter, missing analysts’ consensus estimates of $3.03 by ($0.14). Amgen had a return on equity of 30.87% and a net margin of 8.66%. The firm had revenue of $5.80 billion for the quarter, compared to analyst estimates of $5.84 billion. During the same period in the previous year, the firm posted $2.89 earnings per share. The company’s revenue for the quarter was down 2.7% on a year-over-year basis. research analysts anticipate that Amgen, Inc. will post 13.22 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 8th. Stockholders of record on Thursday, February 15th will be given a dividend of $1.32 per share. This is a boost from Amgen’s previous quarterly dividend of $1.15. This represents a $5.28 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date is Wednesday, February 14th. Amgen’s payout ratio is presently 178.99%.

Amgen announced that its board has initiated a stock repurchase plan on Wednesday, October 25th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to purchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

In related news, EVP Sean E. Harper sold 1,525 shares of the company’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $185.62, for a total value of $283,070.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.19% of the company’s stock.

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Amgen Company Profile

Amgen Inc is a biotechnology company. The Company discovers, develops, manufactures and delivers various human therapeutics. It operates in human therapeutics segment. Its marketed products portfolio includes Neulasta (pegfilgrastim); erythropoiesis-stimulating agents (ESAs), such as Aranesp (darbepoetin alfa) and EPOGEN (epoetin alfa); Sensipar/Mimpara (cinacalcet); XGEVA (denosumab); Prolia (denosumab); NEUPOGEN (filgrastim), and other marketed products, such as KYPROLIS (carfilzomib), Vectibix (panitumumab), Nplate (romiplostim), Repatha (evolocumab), BLINCYTO (blinatumomab), IMLYGIC (talimogene laherparepvec) and Corlanor (ivabradine).

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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