Bahl & Gaynor Inc. grew its stake in Amgen, Inc. (NASDAQ:AMGN) by 24.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 793,496 shares of the medical research company’s stock after acquiring an additional 154,003 shares during the quarter. Amgen accounts for 1.4% of Bahl & Gaynor Inc.’s portfolio, making the stock its 28th biggest holding. Bahl & Gaynor Inc. owned about 0.11% of Amgen worth $116,017,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also bought and sold shares of the company. TrimTabs Asset Management LLC raised its stake in shares of Amgen by 88.9% in the first quarter. TrimTabs Asset Management LLC now owns 612 shares of the medical research company’s stock worth $100,000 after purchasing an additional 288 shares during the last quarter. Jackson Grant Investment Advisers Inc. raised its stake in shares of Amgen by 0.8% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 641 shares of the medical research company’s stock worth $110,000 after purchasing an additional 5 shares during the last quarter. American Beacon Advisors Inc. purchased a new stake in Amgen during the first quarter valued at $106,000. Omnia Family Wealth LLC increased its position in Amgen by 25.3% during the second quarter. Omnia Family Wealth LLC now owns 729 shares of the medical research company’s stock valued at $125,000 after acquiring an additional 147 shares during the last quarter. Finally, Grove Bank & Trust increased its position in Amgen by 87.4% during the second quarter. Grove Bank & Trust now owns 731 shares of the medical research company’s stock valued at $126,000 after acquiring an additional 341 shares during the last quarter. Hedge funds and other institutional investors own 78.38% of the company’s stock.
Shares of Amgen, Inc. (NASDAQ AMGN) opened at $176.22 on Thursday. Amgen, Inc. has a 52-week low of $138.83 and a 52-week high of $191.10. The company has a debt-to-equity ratio of 1.05, a quick ratio of 5.72 and a current ratio of 6.07. The stock has a market capitalization of $129,712.96, a P/E ratio of 14.20, a price-to-earnings-growth ratio of 2.59 and a beta of 1.36.
Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Wednesday, October 25th. The medical research company reported $3.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.11 by $0.16. Amgen had a return on equity of 29.90% and a net margin of 35.54%. The business had revenue of $5.77 billion for the quarter, compared to the consensus estimate of $5.75 billion. During the same period in the prior year, the business posted $3.02 earnings per share. The company’s quarterly revenue was down .7% compared to the same quarter last year. equities research analysts predict that Amgen, Inc. will post 12.66 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 17th will be issued a $1.15 dividend. The ex-dividend date is Thursday, November 16th. This represents a $4.60 annualized dividend and a dividend yield of 2.61%. Amgen’s payout ratio is 41.63%.
Amgen announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, October 25th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the medical research company to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.
A number of analysts recently commented on the company. BidaskClub upgraded Amgen from a “strong sell” rating to a “sell” rating in a research report on Saturday, December 2nd. Oppenheimer reiterated a “buy” rating and set a $205.00 price objective on shares of Amgen in a research report on Thursday, November 30th. Cann reiterated a “buy” rating and set a $205.00 price objective on shares of Amgen in a research report on Thursday, November 30th. Argus cut Amgen from a “buy” rating to a “hold” rating and upped their price objective for the company from $175.22 to $195.00 in a research report on Wednesday, November 1st. Finally, Zacks Investment Research cut Amgen from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $190.22.
In other Amgen news, Director Carbonnel Francois De sold 4,000 shares of the firm’s 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Sean E. Harper sold 1,525 shares of the firm’s stock in a transaction on Monday, November 13th. The stock was 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 $9,888,326.98. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,050 shares of company stock worth $1,239,673. Company insiders own 0.19% of the company’s stock.
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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