Donoghue Forlines LLC Sells 992 Shares of Amgen Inc. (NASDAQ:AMGN)

Key Points

• Donoghue Forlines LLC has cut its stock holdings in Amgen Inc. by 17.6%, reducing its shares to 4,656, with a total value of approximately $1.45 million.
• Recent analyst reports are mixed, with 12 hold ratings, 7 buy ratings, and a consensus price target of $303.76, reflecting a cautious outlook for the stock.
• Amgen declared a quarterly dividend of $2.38 per share, representing an annualized yield of 3.3% and a payout ratio of 77.84%.

Donoghue Forlines LLC lowered its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 17.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,656 shares of the medical research company's stock after selling 992 shares during the quarter. Donoghue Forlines LLC's holdings in Amgen were worth $1,451,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Capital World Investors boosted its position in shares of Amgen by 1,292.0% in the 4th quarter. Capital World Investors now owns 6,495,710 shares of the medical research company's stock valued at $1,693,042,000 after purchasing an additional 6,029,058 shares during the period. GAMMA Investing LLC boosted its position in shares of Amgen by 43,573.5% in the 1st quarter. GAMMA Investing LLC now owns 3,661,589 shares of the medical research company's stock valued at $1,140,768,000 after purchasing an additional 3,653,205 shares during the period. Capital International Investors boosted its position in shares of Amgen by 40.1% in the 4th quarter. Capital International Investors now owns 12,212,065 shares of the medical research company's stock valued at $3,182,843,000 after purchasing an additional 3,495,503 shares during the period. Northern Trust Corp boosted its position in shares of Amgen by 15.8% in the 4th quarter. Northern Trust Corp now owns 6,431,029 shares of the medical research company's stock valued at $1,676,183,000 after purchasing an additional 875,254 shares during the period. Finally, Capital Research Global Investors boosted its position in shares of Amgen by 20.7% in the 4th quarter. Capital Research Global Investors now owns 4,890,092 shares of the medical research company's stock valued at $1,274,553,000 after purchasing an additional 839,686 shares during the period. Institutional investors own 76.50% of the company's stock.

Amgen Stock Performance

Shares of AMGN stock traded down $0.11 during trading on Tuesday, reaching $284.98. The company had a trading volume of 2,189,061 shares, compared to its average volume of 2,894,184. The firm's 50 day simple moving average is $293.16 and its two-hundred day simple moving average is $292.88. The company has a debt-to-equity ratio of 7.24, a current ratio of 1.31 and a quick ratio of 0.98. Amgen Inc. has a one year low of $253.30 and a one year high of $339.17. The company has a market capitalization of $153.42 billion, a PE ratio of 23.30, a PEG ratio of 2.49 and a beta of 0.49.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, beating analysts' consensus estimates of $5.28 by $0.74. Amgen had a return on equity of 174.71% and a net margin of 18.96%. The business had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $8.86 billion. During the same period last year, the business earned $4.97 EPS. The firm's revenue was up 9.4% compared to the same quarter last year. Sell-side analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 22nd will be given a $2.38 dividend. This represents a $9.52 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Friday, August 22nd. Amgen's payout ratio is currently 77.84%.

Analyst Upgrades and Downgrades

AMGN has been the subject of a number of recent analyst reports. Royal Bank Of Canada decreased their price target on Amgen from $324.00 to $320.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Wall Street Zen lowered Amgen from a "buy" rating to a "hold" rating in a research report on Saturday. Mizuho raised their price objective on Amgen from $235.00 to $280.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Erste Group Bank lowered Amgen from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 8th. Finally, Bank of America raised their price objective on Amgen from $252.00 to $261.00 and gave the stock an "underperform" rating in a research report on Wednesday, July 23rd. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Amgen has a consensus rating of "Hold" and an average target price of $303.76.

Insider Buying and Selling

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of Amgen stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total value of $434,520.00. Following the transaction, the senior vice president directly owned 8,162 shares of the company's stock, valued at $2,364,368.16. The trade was a 15.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.69% of the stock is currently owned by corporate insiders.

Amgen Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.