AMG National Trust Bank cut its stake in Amgen Inc. (NASDAQ:AMGN) by 0.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,629 shares of the medical research company’s stock after selling 110 shares during the period. AMG National Trust Bank’s holdings in Amgen were worth $2,520,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. purchased a new position in Amgen in the first quarter valued at approximately $18,773,000. Swiss National Bank raised its holdings in Amgen by 26.5% in the first quarter. Swiss National Bank now owns 2,636,008 shares of the medical research company’s stock valued at $432,490,000 after buying an additional 551,600 shares during the period. Boulegeris Investments Inc. purchased a new position in Amgen in the first quarter valued at approximately $213,000. World Asset Management Inc raised its holdings in Amgen by 18.0% in the first quarter. World Asset Management Inc now owns 82,746 shares of the medical research company’s stock valued at $13,576,000 after buying an additional 12,621 shares during the period. Finally, Connable Office Inc. raised its holdings in Amgen by 17.5% in the first quarter. Connable Office Inc. now owns 15,107 shares of the medical research company’s stock valued at $2,479,000 after buying an additional 2,245 shares during the period. 78.15% of the stock is currently owned by institutional investors and hedge funds.
Shares of Amgen Inc. (AMGN) opened at $170.12 on Monday. The company has a quick ratio of 5.72, a current ratio of 6.07 and a debt-to-equity ratio of 1.05. The stock has a market cap of $123,491.98, a price-to-earnings ratio of 13.52, a P/E/G ratio of 2.46 and a beta of 1.37. Amgen Inc. has a 12 month low of $138.83 and a 12 month high of $191.10.
Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Wednesday, October 25th. The medical research company reported $3.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.11 by $0.16. The business had revenue of $5.77 billion during the quarter, compared to analyst estimates of $5.75 billion. Amgen had a net margin of 35.54% and a return on equity of 29.90%. The business’s revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.02 earnings per share. analysts expect that Amgen Inc. will post 12.66 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 17th will be paid a $1.15 dividend. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.70%. Amgen’s dividend payout ratio (DPR) is presently 41.63%.
Amgen announced that its Board of Directors has initiated a share repurchase program on Wednesday, October 25th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the medical research company to buy shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.
Several research analysts recently commented on AMGN shares. Mizuho restated a “buy” rating and issued a $198.00 price target on shares of Amgen in a report on Friday, October 6th. Cann restated a “buy” rating and issued a $203.00 price target on shares of Amgen in a report on Friday, October 6th. Bank of America Corporation raised their price target on shares of Amgen to $210.00 and gave the company a “buy” rating in a report on Thursday, October 5th. Oppenheimer Holdings, Inc. restated a “buy” rating and issued a $203.00 price target on shares of Amgen in a report on Thursday, September 7th. Finally, BidaskClub lowered shares of Amgen from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Thirteen research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Amgen has an average rating of “Buy” and a consensus price target of $190.03.
In related news, EVP Sean E. Harper sold 1,525 shares of Amgen stock in a transaction 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 completion of the sale, the executive vice president now owns 57,631 shares in the company, valued at $9,888,326.98. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Carbonnel Francois De sold 4,000 shares of Amgen stock in a transaction 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. In the last 90 days, insiders sold 7,050 shares of company stock valued at $1,239,673. Insiders own 0.19% of the company’s stock.
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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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