Victory Capital Management Inc. Sells 9,613 Shares of Amgen Inc. (NASDAQ:AMGN)

Victory Capital Management Inc. cut its position in Amgen Inc. (NASDAQ:AMGN) by 1.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 716,917 shares of the medical research company’s stock after selling 9,613 shares during the quarter. Victory Capital Management Inc.’s holdings in Amgen were worth $230,998,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Keynote Financial Services LLC grew its holdings in shares of Amgen by 0.6% in the second quarter. Keynote Financial Services LLC now owns 4,898 shares of the medical research company’s stock worth $1,530,000 after purchasing an additional 30 shares during the last quarter. Ascent Group LLC grew its holdings in Amgen by 0.3% in the 2nd quarter. Ascent Group LLC now owns 10,949 shares of the medical research company’s stock worth $3,421,000 after acquiring an additional 31 shares during the last quarter. RFP Financial Group LLC increased its position in shares of Amgen by 17.1% in the first quarter. RFP Financial Group LLC now owns 219 shares of the medical research company’s stock valued at $62,000 after acquiring an additional 32 shares during the period. Hofer & Associates. Inc raised its stake in shares of Amgen by 0.5% during the second quarter. Hofer & Associates. Inc now owns 6,477 shares of the medical research company’s stock valued at $2,024,000 after acquiring an additional 32 shares during the last quarter. Finally, Cadinha & Co. LLC grew its stake in shares of Amgen by 0.6% in the third quarter. Cadinha & Co. LLC now owns 5,209 shares of the medical research company’s stock worth $1,678,000 after purchasing an additional 32 shares during the last quarter. 76.50% of the stock is owned by institutional investors.

Amgen Stock Performance

Amgen stock traded down $3.53 during midday trading on Tuesday, reaching $318.28. 350,044 shares of the company traded hands, compared to its average volume of 2,400,977. Amgen Inc. has a 12 month low of $260.52 and a 12 month 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 has a 50 day moving average of $323.37 and a two-hundred day moving average of $318.07. The firm has a market capitalization of $171.09 billion, a price-to-earnings ratio of 40.99, a price-to-earnings-growth ratio of 2.90 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, topping the consensus estimate of $5.11 by $0.47. The firm had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The business’s quarterly revenue was up 23.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.96 EPS. As a group, research analysts predict that Amgen Inc. will post 19.51 earnings per share for the current year.

Amgen Dividend Announcement

The company also recently announced 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 2.83%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s dividend payout ratio is currently 115.24%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. StockNews.com raised Amgen from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $405.00 target price on shares of Amgen in a research report on Tuesday, October 22nd. Oppenheimer reaffirmed an “outperform” rating and issued a $380.00 price target on shares of Amgen in a research note on Wednesday, August 7th. Bank of America raised their price objective on Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $362.00 target price on shares of Amgen in a research report on Thursday, September 26th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Amgen presently has an average rating of “Moderate Buy” and a consensus price target of $333.50.

Amgen Company 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.