Alpha Cubed Investments LLC grew its holdings in shares of Amgen, Inc. (NASDAQ:AMGN) by 5.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 88,352 shares of the medical research company’s stock after purchasing an additional 4,370 shares during the period. Amgen accounts for 2.5% of Alpha Cubed Investments LLC’s portfolio, making the stock its 10th biggest position. Alpha Cubed Investments LLC’s holdings in Amgen were worth $16,473,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the company. Baker Ellis Asset Management LLC bought a new position in Amgen in the 3rd quarter valued at about $108,000. TrimTabs Asset Management LLC grew its position in Amgen by 88.9% in 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. Phocas Financial Corp. bought a new position in Amgen in the 2nd quarter valued at about $110,000. Jackson Grant Investment Advisers Inc. grew its position in Amgen by 0.8% in the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 641 shares of the medical research company’s stock valued at $110,000 after buying an additional 5 shares in the last quarter. Finally, Omnia Family Wealth LLC grew its position in Amgen by 25.3% in the 2nd quarter. Omnia Family Wealth LLC now owns 729 shares of the medical research company’s stock valued at $125,000 after buying an additional 147 shares in the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.
A number of brokerages have weighed in on AMGN. Oppenheimer set a $205.00 price target on shares of Amgen and gave the company a “buy” rating in a report on Friday, January 5th. Vetr downgraded shares of Amgen from a “buy” rating to a “hold” rating and set a $184.25 price target for the company. in a report on Wednesday, January 3rd. Piper Jaffray Companies reissued a “buy” rating on shares of Amgen in a report on Tuesday, January 2nd. Mizuho set a $192.00 price objective on shares of Amgen and gave the company a “buy” rating in a research note on Thursday, December 28th. Finally, Citigroup lowered shares of Amgen to a “neutral” rating in a research note on Monday, December 18th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and ten have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $190.15.
In other news, EVP Sean E. Harper sold 1,525 shares of the firm’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $171.58, for a total value of $261,659.50. Following the sale, the executive vice president now owns 57,631 shares in the company, valued at $9,888,326.98. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Carbonnel Francois De sold 4,000 shares of the firm’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $173.61, for a total value of $694,440.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,050 shares of company stock worth $1,225,765. 0.19% of the stock is currently owned by corporate insiders.
Shares of Amgen, Inc. (NASDAQ:AMGN) traded up $3.08 during mid-day trading on Friday, reaching $185.04. The company’s stock had a trading volume of 3,082,800 shares, compared to its average volume of 2,720,000. Amgen, Inc. has a one year low of $150.38 and a one year high of $191.10. The company has a debt-to-equity ratio of 1.05, a quick ratio of 5.72 and a current ratio of 6.07. The firm has a market capitalization of $134,320.00, a P/E ratio of 16.72, a PEG ratio of 2.66 and a beta of 1.36.
Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Wednesday, October 25th. The medical research company reported $3.27 EPS for the quarter, beating the consensus estimate of $3.11 by $0.16. The company had revenue of $5.77 billion for the quarter, compared to the consensus estimate of $5.75 billion. Amgen had a return on equity of 29.90% and a net margin of 35.54%. The company’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter last year, the company posted $3.02 earnings per share. sell-side analysts expect that Amgen, Inc. will post 12.71 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 8th. Stockholders of record on Thursday, February 15th will be paid a $1.32 dividend. This is an increase from Amgen’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $5.28 annualized dividend and a dividend yield of 2.85%. Amgen’s dividend payout ratio (DPR) is presently 41.55%.
Amgen declared that its Board of Directors has approved a stock repurchase program on Wednesday, October 25th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the medical research company to purchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.
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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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