Pinnacle Financial Partners Inc. increased its position in Amgen Inc. (NASDAQ:AMGN) by 15.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,069 shares of the medical research company’s stock after buying an additional 5,226 shares during the period. Amgen accounts for approximately 0.9% of Pinnacle Financial Partners Inc.’s investment portfolio, making the stock its 28th biggest holding. Pinnacle Financial Partners Inc.’s holdings in Amgen were worth $6,557,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp increased its holdings in shares of Amgen by 2.3% in the first quarter. Bank of New York Mellon Corp now owns 8,555,356 shares of the medical research company’s stock worth $1,403,676,000 after purchasing an additional 195,200 shares during the period. Schwab Charles Investment Management Inc. grew its position in Amgen by 2.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 2,962,595 shares of the medical research company’s stock worth $510,248,000 after acquiring an additional 67,815 shares in the last quarter. UBS Asset Management Americas Inc. grew its position in Amgen by 3.1% in the first quarter. UBS Asset Management Americas Inc. now owns 2,719,874 shares of the medical research company’s stock worth $446,250,000 after acquiring an additional 81,362 shares in the last quarter. Swiss National Bank grew its position in Amgen by 26.5% in the first quarter. Swiss National Bank now owns 2,636,008 shares of the medical research company’s stock worth $432,490,000 after acquiring an additional 551,600 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in Amgen by 65.7% during the second quarter. Canada Pension Plan Investment Board now owns 1,706,261 shares of the medical research company’s stock valued at $293,869,000 after buying an additional 676,300 shares during the period. Institutional investors own 78.54% of the company’s stock.
Several equities analysts have recently commented on the stock. Zacks Investment Research downgraded shares of Amgen from a “buy” rating to a “hold” rating in a research note on Monday, October 30th. Royal Bank of Canada lowered their price objective on shares of Amgen from $192.00 to $188.00 and set a “sector perform” rating for the company in a research note on Thursday, October 26th. BMO Capital Markets downgraded shares of Amgen from an “outperform” rating to a “market perform” rating and set a $199.00 price objective for the company. in a research note on Friday, July 21st. They noted that the move was a valuation call. Credit Suisse Group reiterated a “neutral” rating and issued a $186.00 price target (up from $177.00) on shares of Amgen in a report on Friday, September 29th. Finally, Oppenheimer Holdings, Inc. reiterated a “buy” rating and issued a $203.00 price target on shares of Amgen in a report on Thursday, September 7th. Thirteen equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. Amgen has an average rating of “Buy” and an average target price of $190.03.
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Shares of Amgen Inc. (NASDAQ AMGN) traded down $1.65 during trading on Friday, reaching $172.35. 1,927,300 shares of the company’s stock were exchanged, compared to its average volume of 3,255,177. The firm has a market cap of $126,308.45, a price-to-earnings ratio of 13.83, a price-to-earnings-growth ratio of 2.52 and a beta of 1.37. The company has a debt-to-equity ratio of 1.05, a current ratio of 6.07 and a quick ratio of 5.72. Amgen Inc. has a twelve month low of $138.83 and a twelve month high of $191.10.
Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Wednesday, October 25th. The medical research company reported $3.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.11 by $0.16. Amgen had a net margin of 35.54% and a return on equity of 29.90%. The firm had revenue of $5.77 billion for the quarter, compared to the consensus estimate of $5.75 billion. During the same period in the prior year, the firm posted $3.02 earnings per share. The firm’s quarterly revenue was down .7% compared to the same quarter last year. equities research analysts anticipate that Amgen Inc. will post 12.66 EPS for the current fiscal year.
Amgen declared that its board has initiated a share buyback program on Wednesday, October 25th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the medical research company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 17th will be given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 2.67%. The ex-dividend date of this dividend is Thursday, November 16th. Amgen’s payout ratio is currently 41.63%.
In other news, EVP Sean E. Harper sold 1,525 shares of the stock in a transaction dated Monday, October 9th. The shares were sold at an average price of $185.95, for a total transaction of $283,573.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Carbonnel Francois De sold 4,000 shares of the stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $173.61, for a total transaction of $694,440.00. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by company insiders.
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).
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