Renaissance Group LLC Has $33.21 Million Position in Amgen Inc. (AMGN)

Renaissance Group LLC lowered its holdings in Amgen Inc. (NASDAQ:AMGN) by 0.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 192,829 shares of the medical research company’s stock after selling 431 shares during the period. Amgen comprises about 1.2% of Renaissance Group LLC’s portfolio, making the stock its 18th largest holding. Renaissance Group LLC’s holdings in Amgen were worth $33,211,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. CFO4Life Group LLC lifted its stake in Amgen by 2.9% in the second quarter. CFO4Life Group LLC now owns 6,966 shares of the medical research company’s stock valued at $1,200,000 after acquiring an additional 195 shares during the last quarter. Hudock Capital Group LLC lifted its stake in Amgen by 0.5% in the second quarter. Hudock Capital Group LLC now owns 1,921 shares of the medical research company’s stock valued at $330,000 after acquiring an additional 10 shares during the last quarter. Kings Point Capital Management lifted its stake in Amgen by 13.3% in the second quarter. Kings Point Capital Management now owns 13,758 shares of the medical research company’s stock valued at $2,370,000 after acquiring an additional 1,611 shares during the last quarter. Brookstone Capital Management lifted its stake in Amgen by 1.4% in the second quarter. Brookstone Capital Management now owns 4,559 shares of the medical research company’s stock valued at $785,000 after acquiring an additional 61 shares during the last quarter. Finally, Buckingham Asset Management LLC lifted its stake in Amgen by 18.0% in the second quarter. Buckingham Asset Management LLC now owns 9,374 shares of the medical research company’s stock valued at $1,615,000 after acquiring an additional 1,433 shares during the last quarter. 78.20% of the stock is owned by institutional investors and hedge funds.

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Several analysts have weighed in on the stock. Zacks Investment Research cut shares of Amgen from a “buy” rating to a “hold” rating in a research note on Monday, October 30th. Royal Bank Of Canada dropped their price objective on shares of Amgen from $192.00 to $188.00 and set a “sector perform” rating for the company in a research note on Thursday, October 26th. BMO Capital Markets cut shares of Amgen from an “outperform” rating to a “market perform” rating and set a $199.00 price objective for the company. in a research note on Friday, July 21st. They noted that the move was a valuation call. Credit Suisse Group reiterated a “neutral” rating and issued a $186.00 price objective (up previously from $177.00) on shares of Amgen in a research note on Friday, September 29th. Finally, Oppenheimer Holdings, Inc. reiterated a “buy” rating and issued a $203.00 price objective on shares of Amgen in a research note on Thursday, September 7th. Thirteen analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $190.03.

In other news, EVP Sean E. Harper sold 1,525 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $171.58, for a total value of $261,659.50. Following the transaction, the executive vice president now owns 57,631 shares in the company, valued at approximately $9,888,326.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carbonnel Francois De sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $173.61, for a total transaction of $694,440.00. The disclosure for this sale can be found here. Insiders have sold a total of 7,050 shares of company stock worth $1,239,673 over the last three months. Insiders own 0.19% of the company’s stock.

Shares of Amgen Inc. (AMGN) opened at $170.13 on Wednesday. Amgen Inc. has a 1-year low of $138.83 and a 1-year high of $191.10. The company has a current ratio of 6.07, a quick ratio of 5.72 and a debt-to-equity ratio of 1.05. The firm has a market cap of $124,493.66, a P/E ratio of 13.63, a price-to-earnings-growth ratio of 2.48 and a beta of 1.37.

Amgen (NASDAQ:AMGN) last posted its earnings results on Wednesday, October 25th. The medical research company reported $3.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.11 by $0.16. Amgen had a net margin of 35.54% and a return on equity of 29.90%. The firm had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.75 billion. During the same period in the previous year, the firm posted $3.02 EPS. The company’s revenue for the quarter was down .7% compared to the same quarter last year. equities analysts predict that Amgen Inc. will post 12.66 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 17th will be issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend is Thursday, November 16th. Amgen’s payout ratio is 41.63%.

Amgen declared that its Board of Directors has initiated a share buyback program on Wednesday, October 25th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the medical research company to reacquire shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

About Amgen

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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