Naples Global Advisors LLC lifted its stake in shares of Amgen, Inc. (NASDAQ:AMGN) by 1.0% during the third quarter, Holdings Channel reports. The firm owned 23,856 shares of the medical research company’s stock after purchasing an additional 230 shares during the quarter. Amgen makes up approximately 1.1% of Naples Global Advisors LLC’s portfolio, making the stock its 11th largest holding. Naples Global Advisors LLC’s holdings in Amgen were worth $4,616,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Advisors Preferred LLC acquired a new stake in shares of Amgen during the second quarter worth $30,000. Arbor Wealth Management LLC raised its position in shares of Amgen by 154.5% during the second quarter. Arbor Wealth Management LLC now owns 168 shares of the medical research company’s stock worth $31,000 after purchasing an additional 102 shares during the period. Atwater Malick LLC acquired a new position in Amgen during the third quarter valued at $39,000. Ashburton Jersey Ltd acquired a new position in Amgen during the second quarter valued at $42,000. Finally, Strategic Blueprint LLC acquired a new position in Amgen during the third quarter valued at $45,000. 76.33% of the stock is currently owned by institutional investors.
Shares of AMGN traded up $2.12 during trading hours on Monday, hitting $205.17. 143,567 shares of the company were exchanged, compared to its average volume of 1,897,198. The firm’s 50 day moving average is $198.88 and its 200-day moving average is $187.16. Amgen, Inc. has a 52 week low of $166.30 and a 52 week high of $211.90. The company has a market cap of $121.78 billion, a PE ratio of 14.25, a PEG ratio of 2.69 and a beta of 1.11. The company has a debt-to-equity ratio of 2.58, a quick ratio of 2.60 and a current ratio of 2.89.
Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, July 30th. The medical research company reported $3.97 earnings per share for the quarter, beating the consensus estimate of $3.58 by $0.39. Amgen had a return on equity of 76.17% and a net margin of 33.78%. The firm had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.67 billion. During the same quarter in the prior year, the company earned $3.83 EPS. The firm’s revenue for the quarter was down 3.1% compared to the same quarter last year. As a group, equities analysts forecast that Amgen, Inc. will post 14.35 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be paid a dividend of $1.45 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $5.80 annualized dividend and a yield of 2.83%. Amgen’s payout ratio is 40.28%.
Several research firms recently weighed in on AMGN. Evercore ISI reissued a “hold” rating on shares of Amgen in a research report on Sunday, August 11th. Leerink Swann set a $189.00 target price on Amgen and gave the company a “hold” rating in a research note on Monday, September 30th. Credit Suisse Group restated an “outperform” rating and issued a $225.00 target price (up previously from $202.00) on shares of Amgen in a research note on Friday, August 16th. Piper Jaffray Companies boosted their target price on Amgen from $210.00 to $218.00 and gave the company an “overweight” rating in a research note on Monday, August 26th. Finally, Citigroup restated a “buy” rating on shares of Amgen in a research note on Monday, August 12th. Twelve analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $217.28.
In related news, Director R Sanders Williams sold 425 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $183.04, for a total transaction of $77,792.00. Following the completion of the sale, the director now owns 16,336 shares in the company, valued at approximately $2,990,141.44. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ronald D. Sugar sold 2,000 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $206.70, for a total value of $413,400.00. Following the sale, the director now owns 16,336 shares of the company’s stock, valued at approximately $3,376,651.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,851 shares of company stock valued at $3,671,900. 0.25% of the stock is owned by corporate insiders.
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.
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