Gamble Jones Investment Counsel lifted its holdings in Amgen, Inc. (NASDAQ:AMGN) by 5.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 45,443 shares of the medical research company’s stock after buying an additional 2,156 shares during the quarter. Gamble Jones Investment Counsel’s holdings in Amgen were worth $8,794,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the stock. Advisors Preferred LLC acquired a new position in shares of Amgen during the 2nd quarter worth about $30,000. Arbor Wealth Management LLC grew its position in shares of Amgen by 154.5% during the 2nd quarter. Arbor Wealth Management LLC now owns 168 shares of the medical research company’s stock worth $31,000 after buying an additional 102 shares during the period. Atwater Malick LLC acquired a new position in shares of Amgen during the 3rd quarter worth about $39,000. Ashburton Jersey Ltd acquired a new position in shares of Amgen during the 2nd quarter worth about $42,000. Finally, Sound Income Strategies LLC grew its position in shares of Amgen by 402.1% during the 2nd quarter. Sound Income Strategies LLC now owns 236 shares of the medical research company’s stock worth $43,000 after buying an additional 189 shares during the period. 76.33% of the stock is owned by institutional investors and hedge funds.
Shares of AMGN traded up $3.12 on Friday, hitting $221.11. The company’s stock had a trading volume of 2,069,900 shares, compared to its average volume of 2,911,719. The company has a quick ratio of 2.59, a current ratio of 2.89 and a debt-to-equity ratio of 2.54. The firm has a market capitalization of $127.80 billion, a price-to-earnings ratio of 15.35, a P/E/G ratio of 2.21 and a beta of 1.09. Amgen, Inc. has a fifty-two week low of $166.30 and a fifty-two week high of $221.25. The firm’s fifty day moving average price is $202.75 and its 200-day moving average price is $188.90.
Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, October 29th. The medical research company reported $3.66 earnings per share for the quarter, topping analysts’ consensus estimates of $3.53 by $0.13. The business had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.63 billion. Amgen had a return on equity of 80.26% and a net margin of 34.48%. The firm’s revenue was down 2.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.69 EPS. As a group, equities analysts predict that Amgen, Inc. will post 14.44 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 issued a dividend of $1.45 per share. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date is Thursday, November 14th. Amgen’s payout ratio is presently 40.28%.
Several research firms have recently issued reports on AMGN. Sanford C. Bernstein began coverage on Amgen in a research report on Monday, October 14th. They set an “outperform” rating for the company. Citigroup restated a “buy” rating on shares of Amgen in a research report on Monday, August 12th. Goldman Sachs Group set a $243.00 target price on Amgen and gave the stock a “buy” rating in a research report on Monday, September 30th. Piper Jaffray Companies boosted their target price on Amgen from $210.00 to $218.00 and gave the stock an “overweight” rating in a research report on Monday, August 26th. Finally, William Blair restated a “hold” rating on shares of Amgen in a research report on Friday, August 30th. Ten analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $219.56.
In related news, Director R Sanders Williams sold 425 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $215.45, for a total transaction of $91,566.25. Following the transaction, the director now directly owns 5,413 shares of the company’s stock, valued at approximately $1,166,230.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Cynthia M. Patton sold 13,426 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $208.07, for a total value of $2,793,547.82. Following the transaction, the senior vice president now directly owns 32,648 shares in the company, valued at $6,793,069.36. The disclosure for this sale can be found here. Insiders have sold a total of 17,851 shares of company stock worth $3,685,674 over the last three months. 0.25% of the stock is owned by insiders.
Amgen Company Profile
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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