Pacer Advisors Inc. Reduces Position in Amgen Inc. (NASDAQ:AMGN)

Pacer Advisors Inc. cut its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 9.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 67,343 shares of the medical research company’s stock after selling 6,696 shares during the quarter. Pacer Advisors Inc.’s holdings in Amgen were worth $21,699,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in AMGN. Capital Performance Advisors LLP purchased a new stake in Amgen during the third quarter valued at about $25,000. Strategic Financial Concepts LLC purchased a new stake in Amgen during the second quarter valued at about $26,000. Hershey Financial Advisers LLC purchased a new stake in Amgen during the second quarter valued at about $30,000. nVerses Capital LLC purchased a new stake in Amgen during the second quarter valued at about $31,000. Finally, Bbjs Financial Advisors LLC purchased a new stake in Amgen during the second quarter valued at about $33,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Dbs Bank raised shares of Amgen to a “strong-buy” rating in a report on Monday, September 16th. William Blair reissued an “outperform” rating on shares of Amgen in a report on Tuesday, November 12th. Jefferies Financial Group reissued a “buy” rating and issued a $380.00 price target on shares of Amgen in a report on Tuesday, November 12th. Cantor Fitzgerald reissued an “overweight” rating and issued a $405.00 price target on shares of Amgen in a report on Tuesday, October 22nd. Finally, Sanford C. Bernstein assumed coverage on shares of Amgen in a report on Thursday, October 17th. They issued an “outperform” rating and a $380.00 price target on the stock. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $333.57.

Amgen Price Performance

Shares of Amgen stock opened at $294.53 on Friday. The stock has a market capitalization of $158.32 billion, a P/E ratio of 37.71, a price-to-earnings-growth ratio of 2.50 and a beta of 0.60. Amgen Inc. has a one year low of $260.68 and a one year high of $346.85. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. The business’s 50 day simple moving average is $316.52 and its two-hundred day simple moving average is $317.98.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. The company had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The firm’s revenue was up 23.2% compared to the same quarter last year. During the same period in the prior year, the business posted $4.96 EPS. Analysts forecast that Amgen Inc. will post 19.51 EPS for the current year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be issued a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 3.06%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s dividend payout ratio (DPR) is currently 115.24%.

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.