Sterneck Capital Management LLC bought a new stake in Amgen Inc. (NASDAQ:AMGN) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 800 shares of the medical research company’s stock, valued at approximately $203,000.
Other hedge funds have also recently made changes to their positions in the company. Price Wealth LLC boosted its stake in shares of Amgen by 42.9% in the second quarter. Price Wealth LLC now owns 140 shares of the medical research company’s stock valued at $33,000 after purchasing an additional 42 shares during the period. Lake Point Wealth Management raised its holdings in Amgen by 1,590.0% in the first quarter. Lake Point Wealth Management now owns 169 shares of the medical research company’s stock valued at $34,000 after acquiring an additional 159 shares in the last quarter. Campbell Wealth Management acquired a new stake in Amgen in the second quarter valued at $51,000. Demars Financial Group LLC acquired a new stake in shares of Amgen during the second quarter worth $53,000. Finally, 1776 Wealth LLC acquired a new stake in shares of Amgen during the second quarter worth $59,000. Institutional investors and hedge funds own 75.23% of the company’s stock.
In related news, Director R Sanders Williams sold 250 shares of the business’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $242.95, for a total transaction of $60,737.50. Following the transaction, the director now owns 5,159 shares of the company’s stock, valued at $1,253,379.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ronald D. Sugar sold 1,000 shares of the business’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $241.02, for a total transaction of $241,020.00. In the last three months, insiders sold 2,250 shares of company stock worth $561,548. Insiders own 0.36% of the company’s stock.
A number of analysts have weighed in on AMGN shares. Morgan Stanley dropped their target price on shares of Amgen from $281.00 to $273.00 and set an “overweight” rating on the stock in a report on Tuesday. Sanford C. Bernstein cut shares of Amgen from an “outperform” rating to a “market perform” rating in a report on Friday, October 9th. Credit Suisse Group reissued a “buy” rating on shares of Amgen in a report on Wednesday, July 29th. Wells Fargo & Company increased their target price on shares of Amgen from $237.00 to $247.00 and gave the stock an “in-line” rating in a report on Wednesday, July 29th. Finally, Royal Bank of Canada reissued a “hold” rating and set a $223.00 target price on shares of Amgen in a report on Thursday. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fifteen have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $255.08.
NASDAQ:AMGN opened at $235.72 on Friday. Amgen Inc. has a 12 month low of $177.05 and a 12 month high of $264.97. The firm has a market cap of $138.06 billion, a price-to-earnings ratio of 19.26, a P/E/G ratio of 2.11 and a beta of 0.81. The company has a quick ratio of 1.81, a current ratio of 2.18 and a debt-to-equity ratio of 3.20. The company’s 50 day moving average is $246.43 and its 200-day moving average is $237.88.
Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, July 28th. The medical research company reported $4.25 EPS for the quarter, beating the Zacks’ consensus estimate of $3.81 by $0.44. Amgen had a net margin of 30.04% and a return on equity of 91.98%. The company had revenue of $6.21 billion for the quarter, compared to analyst estimates of $6.19 billion. During the same quarter last year, the firm posted $3.97 earnings per share. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. Research analysts predict that Amgen Inc. will post 15.66 EPS for the current fiscal year.
Amgen Company Profile
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology and neuroscience areas. 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; Xgeva for skeletal-related events prevention; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Sensipar/Mimpara to treat secondary hyperparathyroidism; and EPOGEN to treat anemia caused by chronic kidney disease.
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