MIG Capital LLC Acquires New Holdings in Amgen, Inc. (AMGN)

MIG Capital LLC acquired a new position in Amgen, Inc. (NASDAQ:AMGN) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,215 shares of the medical research company’s stock, valued at approximately $209,000. Amgen comprises 0.0% of MIG Capital LLC’s portfolio, making the stock its 23rd biggest holding.

Other hedge funds also recently modified their holdings of the company. Carret Asset Management LLC lifted its holdings in Amgen by 0.9% during the 2nd quarter. Carret Asset Management LLC now owns 5,571 shares of the medical research company’s stock worth $959,000 after buying an additional 50 shares in the last quarter. BlueCrest Capital Management Ltd acquired a new stake in Amgen during the 2nd quarter worth approximately $435,000. Maverick Capital Ltd. lifted its holdings in Amgen by 169.8% during the 2nd quarter. Maverick Capital Ltd. now owns 10,200 shares of the medical research company’s stock worth $1,757,000 after buying an additional 6,420 shares in the last quarter. Monetary Management Group Inc. lifted its holdings in Amgen by 1.0% during the 2nd quarter. Monetary Management Group Inc. now owns 22,923 shares of the medical research company’s stock worth $3,948,000 after buying an additional 220 shares in the last quarter. Finally, Cornerstone Capital Management Holdings LLC. lifted its holdings in Amgen by 4.7% during the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 357,304 shares of the medical research company’s stock worth $61,537,000 after buying an additional 15,952 shares in the last quarter. Hedge funds and other institutional investors own 78.62% of the company’s stock.

Amgen, Inc. (NASDAQ AMGN) opened at $176.83 on Tuesday. The company has a debt-to-equity ratio of 1.05, a current ratio of 6.07 and a quick ratio of 5.72. The company has a market cap of $127,331.98, a price-to-earnings ratio of 13.94, a P/E/G ratio of 2.54 and a beta of 1.36. Amgen, Inc. has a 52-week low of $142.79 and a 52-week high of $191.10.

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

The business also recently announced a quarterly dividend, which was paid on Friday, December 8th. Investors of record on Friday, November 17th were given a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date was Thursday, November 16th. Amgen’s dividend payout ratio (DPR) is 41.63%.

Amgen declared that its board has approved a share buyback plan on Wednesday, October 25th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to purchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

A number of equities research analysts have issued reports on AMGN shares. BMO Capital Markets reiterated a “market perform” rating and set a $198.00 target price on shares of Amgen in a report on Thursday, October 26th. Cann reissued a “buy” rating on shares of Amgen in a research report on Monday, August 28th. Oppenheimer reissued a “buy” rating and issued a $203.00 price objective on shares of Amgen in a research report on Thursday, September 7th. Mizuho reissued a “buy” rating and issued a $198.00 price objective (up from $183.00) on shares of Amgen in a research report on Thursday, September 28th. Finally, Zacks Investment Research downgraded shares of Amgen from a “buy” rating to a “hold” rating in a research report on Monday, October 16th. 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 assigned a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $190.22.

In related news, EVP Sean E. Harper sold 1,525 shares of the stock in a transaction on Monday, October 9th. The shares were sold at an average price of $185.95, for a total value of $283,573.75. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Carbonnel Francois De sold 4,000 shares of the stock in a transaction on Wednesday, November 8th. The shares were 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 sold a total of 7,050 shares of company stock worth $1,239,673 over the last ninety days. Insiders own 0.19% of the company’s stock.

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Amgen Company Profile

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).

Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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