Van Cleef Asset Management Inc Acquires 300 Shares of Amgen, Inc. (NASDAQ:AMGN)

Van Cleef Asset Management Inc grew its holdings in shares of Amgen, Inc. (NASDAQ:AMGN) by 6.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,228 shares of the medical research company’s stock after buying an additional 300 shares during the period. Van Cleef Asset Management Inc’s holdings in Amgen were worth $963,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of the business. Carroll Financial Associates Inc. raised its position in shares of Amgen by 0.8% during the second quarter. Carroll Financial Associates Inc. now owns 7,436 shares of the medical research company’s stock worth $1,370,000 after purchasing an additional 58 shares during the period. Lincoln Capital Corp raised its position in shares of Amgen by 0.3% during the second quarter. Lincoln Capital Corp now owns 21,483 shares of the medical research company’s stock worth $3,959,000 after purchasing an additional 58 shares during the period. Slow Capital Inc. raised its position in shares of Amgen by 0.4% during the second quarter. Slow Capital Inc. now owns 13,799 shares of the medical research company’s stock worth $2,543,000 after purchasing an additional 58 shares during the period. Nicholas Hoffman & Company LLC. raised its position in shares of Amgen by 5.0% during the second quarter. Nicholas Hoffman & Company LLC. now owns 1,207 shares of the medical research company’s stock worth $222,000 after purchasing an additional 58 shares during the period. Finally, CWM LLC raised its position in shares of Amgen by 1.8% during the second quarter. CWM LLC now owns 3,271 shares of the medical research company’s stock worth $603,000 after purchasing an additional 59 shares during the period. Hedge funds and other institutional investors own 76.28% of the company’s stock.

In related news, Director Ronald D. Sugar sold 2,000 shares of the stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $187.58, for a total value of $375,160.00. Following the completion of the sale, the director now directly owns 16,336 shares of the company’s stock, valued at approximately $3,064,306.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Cynthia M. Patton sold 13,426 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $208.07, for a total value of $2,793,547.82. Following the completion of the sale, the senior vice president now directly owns 32,648 shares of the company’s stock, valued at $6,793,069.36. The disclosure for this sale can be found here. Insiders sold a total of 17,851 shares of company stock valued at $3,659,900 over the last three months. 0.25% of the stock is currently owned by insiders.

A number of equities analysts have recently weighed in on AMGN shares. Morgan Stanley lowered their target price on Amgen from $211.00 to $207.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Mizuho lowered Amgen from a “buy” rating to a “neutral” rating and upped their target price for the stock from $208.00 to $212.00 in a research report on Monday, August 19th. They noted that the move was a valuation call. Wells Fargo & Co reaffirmed a “market perform” rating and set a $220.00 target price (up from $202.00) on shares of Amgen in a research report on Tuesday, August 27th. They noted that the move was a valuation call. Royal Bank of Canada upped their target price on Amgen from $192.00 to $206.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 27th. Finally, Oppenheimer set a $240.00 target price on Amgen and gave the stock a “buy” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the company’s stock. Amgen currently has an average rating of “Hold” and an average price target of $217.33.

NASDAQ AMGN traded up $1.86 on Friday, reaching $195.86. The company had a trading volume of 176,648 shares, compared to its average volume of 2,890,083. The stock has a market capitalization of $118.06 billion, a P/E ratio of 13.61, a P/E/G ratio of 2.30 and a beta of 1.11. The company’s fifty day moving average is $196.19 and its 200 day moving average is $185.15. Amgen, Inc. has a 52-week low of $166.30 and a 52-week high of $211.90. The company has a quick ratio of 2.60, a current ratio of 2.89 and a debt-to-equity ratio of 2.58.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, July 30th. The medical research company reported $3.97 EPS for the quarter, beating analysts’ consensus estimates of $3.58 by $0.39. The business had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.67 billion. Amgen had a return on equity of 76.17% and a net margin of 33.78%. Amgen’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.83 EPS. On average, research analysts expect that Amgen, Inc. will post 14.3 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Thursday, August 15th were given a $1.45 dividend. This represents a $5.80 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date was Wednesday, August 14th. Amgen’s payout ratio is currently 40.28%.

About Amgen

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, and neuroscience. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Aranesp to treat anemia; Xgeva for skeletal-related events prevention; Sensipar/Mimpara products to treat sHPT in chronic kidney disease; and EPOGEN to treat a lower-than-normal number of red blood cells.

Further Reading: Quick Ratio

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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