Amgen Inc. $AMGN Shares Sold by Factory Mutual Insurance Co.

Factory Mutual Insurance Co. lessened its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 13.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 55,700 shares of the medical research company’s stock after selling 8,450 shares during the quarter. Factory Mutual Insurance Co.’s holdings in Amgen were worth $23,478,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of AMGN. Wellington Altus USA Inc. raised its holdings in shares of Amgen by 72.3% in the second quarter. Wellington Altus USA Inc. now owns 81 shares of the medical research company’s stock worth $28,000 after acquiring an additional 34 shares during the last quarter. Nvwm LLC lifted its position in shares of Amgen by 412.5% in the third quarter. Nvwm LLC now owns 82 shares of the medical research company’s stock valued at $35,000 after acquiring an additional 66 shares in the last quarter. PFS Partners LLC lifted its position in shares of Amgen by 95.5% in the third quarter. PFS Partners LLC now owns 86 shares of the medical research company’s stock valued at $36,000 after acquiring an additional 42 shares in the last quarter. TOWER TRUST & INVESTMENT Co acquired a new stake in shares of Amgen during the third quarter valued at $38,000. Finally, Security National Bank of Sioux City Iowa IA acquired a new stake in shares of Amgen during the second quarter valued at $36,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Insider Activity

In other Amgen news, SVP Nancy Grygiel sold 2,970 shares of the firm’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $402.16, for a total value of $1,194,415.20. Following the sale, the senior vice president directly owned 7,340 shares of the company’s stock, valued at approximately $2,951,854.40. This trade represents a 28.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Rachna Khosla sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $412.57, for a total value of $825,140.00. Following the completion of the sale, the senior vice president directly owned 6,404 shares in the company, valued at approximately $2,642,098.28. The trade was a 23.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 6,222 shares of company stock worth $2,540,926 over the last quarter. 0.85% of the stock is currently owned by company insiders.

More Amgen News

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Amgen earned $6.45 per share on $10.37 billion in revenue, beating analyst estimates; revenue rose 8.5% year over year. The company also raised its outlook, with full-year revenue guidance slightly above the consensus estimate. Amgen Raises Outlook After 3Q Profit, Sales Rise
• Positive Sentiment: Sales growth in cholesterol and cancer medicines helped support the quarter, while the company’s broader growth portfolio was reported to be offsetting pressure from the denosumab product cycle. Amgen third quarter sales rise 8%, led by cholesterol, cancer drugs
• Negative Sentiment: Shares fell despite the earnings beat as investors focused on biosimilar competition facing key products, which could pressure future sales. Amgen beats estimates but shares dip on biosimilar concerns
• Negative Sentiment: The FDA issued Amgen a warning letter over promotion of its cancer drug Vectibix, adding a regulatory and reputational concern for investors. Amgen Gets FDA Warning Letter Over Misleading Vectibix Promotion

Wall Street Analyst Weigh In

AMGN has been the subject of a number of recent research reports. Scotiabank lifted their price objective on Amgen from $450.00 to $500.00 and gave the stock an “outperform” rating in a research report on Monday, September 28th. Jefferies Financial Group restated a “hold” rating and issued a $410.00 target price on shares of Amgen in a report on Wednesday, September 23rd. Barclays upped their target price on shares of Amgen from $380.00 to $400.00 and gave the company an “equal weight” rating in a report on Wednesday, October 21st. BMO Capital Markets decreased their price target on shares of Amgen from $450.00 to $415.00 and set a “market perform” rating on the stock in a research note on Monday, October 12th. Finally, Weiss Ratings upgraded shares of Amgen from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, October 8th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, sixteen have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Amgen has a consensus rating of “Hold” and a consensus target price of $389.71.

Amgen Trading Down 0.9%

Shares of AMGN opened at $461.26 on Wednesday. Amgen Inc. has a fifty-two week low of $294.48 and a fifty-two week high of $475.64. The company has a market capitalization of $249.37 billion, a PE ratio of 28.67, a price-to-earnings-growth ratio of 3.41 and a beta of 0.43. The stock has a fifty day moving average of $420.83 and a two-hundred day moving average of $376.16. The company has a debt-to-equity ratio of 4.44, a quick ratio of 1.13 and a current ratio of 1.37.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, November 3rd. The medical research company reported $6.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.79 by $0.66. Amgen had a return on equity of 124.14% and a net margin of 22.95%. The business had revenue of $10.37 billion for the quarter, compared to analysts’ expectations of $10.07 billion. During the same quarter last year, the firm earned $5.64 earnings per share. The business’s revenue was up 8.5% on a year-over-year basis. As a group, analysts forecast that Amgen Inc. will post 22.96 EPS for the current year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 11th. Investors of record on Friday, November 20th will be given a dividend of $2.52 per share. The ex-dividend date is Friday, November 20th. This represents a $10.08 annualized dividend and a yield of 2.2%. Amgen’s dividend payout ratio is 62.65%.

Amgen Profile

Amgen Inc is a biotechnology company that discovers, develops, manufactures and delivers medicines for serious illnesses. Its research focuses on areas including oncology, cardiovascular disease, inflammation, bone health, nephrology and neuroscience.

The company’s products include biologic and specialty medicines such as Enbrel for inflammatory diseases, Prolia and Evenity for osteoporosis, Xgeva for skeletal-related complications, Repatha for cardiovascular risk reduction, Otezla for inflammatory conditions, Tezspire for severe asthma, Blincyto for certain blood cancers, and Lumakras for specific cancers.

Founded in 1980, Amgen is headquartered in Thousand Oaks, California.