Consolidated Investment Group LLC Grows Position in Amgen Inc. (NASDAQ:AMGN)

Consolidated Investment Group LLC boosted its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 19.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 17,134 shares of the medical research company’s stock after purchasing an additional 2,800 shares during the quarter. Amgen comprises 1.6% of Consolidated Investment Group LLC’s portfolio, making the stock its 25th biggest holding. Consolidated Investment Group LLC’s holdings in Amgen were worth $2,951,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMGN. TrimTabs Asset Management LLC grew its holdings in Amgen by 88.9% during the 1st quarter. TrimTabs Asset Management LLC now owns 612 shares of the medical research company’s stock valued at $100,000 after buying an additional 288 shares in the last quarter. Alpha Omega Wealth Management LLC boosted its holdings in shares of Amgen by 19.0% in the 1st quarter. Alpha Omega Wealth Management LLC now owns 625 shares of the medical research company’s stock worth $103,000 after purchasing an additional 100 shares during the period. Jackson Grant Investment Advisers Inc. boosted its holdings in shares of Amgen by 0.6% in the 1st quarter. Jackson Grant Investment Advisers Inc. now owns 636 shares of the medical research company’s stock worth $104,000 after purchasing an additional 4 shares during the period. American Beacon Advisors Inc. purchased a new position in shares of Amgen in the 1st quarter worth approximately $106,000. Finally, Nelson Roberts Investment Advisors LLC purchased a new position in shares of Amgen in the 1st quarter worth approximately $121,000. Institutional investors and hedge funds own 78.09% of the company’s stock.

AMGN has been the subject of a number of research analyst reports. Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $189.00 price target on shares of Amgen in a research note on Friday, June 30th. Bank of America Corporation raised their price target on Amgen to $210.00 and gave the stock a “buy” rating in a research note on Thursday, October 5th. Credit Suisse Group set a $177.00 price target on Amgen and gave the stock a “hold” rating in a research note on Friday, July 14th. Barclays PLC raised their price target on Amgen from $180.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Friday, October 13th. Finally, Royal Bank Of Canada initiated coverage on Amgen in a research note on Thursday, September 14th. They set a “sector perform” rating and a $192.00 price target for the company. Eleven equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $190.03.

In other news, EVP Sean E. Harper sold 1,525 shares of the stock in a transaction that occurred 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.19% of the company’s stock.

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Amgen Inc. (AMGN) traded down 0.70% during mid-day trading on Friday, hitting $175.28. The stock had a trading volume of 3,478,617 shares. The company has a 50 day moving average price of $185.07 and a 200 day moving average price of $172.01. Amgen Inc. has a one year low of $133.64 and a one year high of $191.10. The stock has a market cap of $127.90 billion, a P/E ratio of 15.97 and a beta of 1.36.

Amgen (NASDAQ:AMGN) last posted its earnings results on Wednesday, October 25th. The medical research company reported $3.27 EPS for the quarter, topping the consensus estimate of $3.11 by $0.16. The firm had revenue of $5.77 billion during the quarter, compared to analysts’ expectations of $5.75 billion. Amgen had a net margin of 35.54% and a return on equity of 29.90%. Amgen’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.02 EPS. On average, equities analysts anticipate that Amgen Inc. will post $12.67 EPS for the current year.

Amgen announced that its Board of Directors has approved a stock buyback plan on Wednesday, October 25th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the medical research company to reacquire shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 17th will be issued a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 2.62%. The ex-dividend date of this dividend is Thursday, November 16th. Amgen’s dividend payout ratio (DPR) is presently 41.63%.

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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