Seaward Management Limited Partnership Cuts Stake in Amgen Inc. (AMGN)

Seaward Management Limited Partnership lessened its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 1.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 57,150 shares of the medical research company’s stock after selling 604 shares during the quarter. Seaward Management Limited Partnership’s holdings in Amgen were worth $9,842,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of 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 grew its holdings in Amgen by 19.0% during the 1st quarter. Alpha Omega Wealth Management LLC now owns 625 shares of the medical research company’s stock valued at $103,000 after buying an additional 100 shares in the last quarter. Jackson Grant Investment Advisers Inc. grew its holdings in Amgen by 0.6% during the 1st quarter. Jackson Grant Investment Advisers Inc. now owns 636 shares of the medical research company’s stock valued at $104,000 after buying an additional 4 shares in the last quarter. American Beacon Advisors Inc. purchased a new position in Amgen during the 1st quarter valued at approximately $106,000. Finally, Grove Bank & Trust grew its holdings in Amgen by 87.4% during the 2nd quarter. Grove Bank & Trust now owns 731 shares of the medical research company’s stock valued at $126,000 after buying an additional 341 shares in the last quarter. 78.09% of the stock is currently owned by institutional investors.

A number of equities analysts have recently commented on AMGN shares. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and issued a $189.00 target price on shares of Amgen in a report on Friday, June 30th. Bank of America Corporation lifted their target price on Amgen to $210.00 and gave the stock a “buy” rating in a report on Thursday, October 5th. Credit Suisse Group set a $177.00 target price on Amgen and gave the stock a “hold” rating in a report on Friday, July 14th. Barclays PLC lifted their target price on Amgen from $180.00 to $190.00 and gave the stock an “equal weight” rating in a report 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 research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $190.03.

In related news, EVP Sean E. Harper sold 1,525 shares of the firm’s stock in a transaction that occurred on Monday, October 9th. The shares were sold at an average price of $185.95, for a total transaction of $283,573.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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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