Gabelli Funds LLC trimmed its position in shares of Amgen, Inc. (NASDAQ:AMGN) by 49.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 64,500 shares of the medical research company’s stock after selling 63,700 shares during the period. Gabelli Funds LLC’s holdings in Amgen were worth $12,026,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in the business. Baker Ellis Asset Management LLC bought a new stake in shares of Amgen during the third quarter valued at approximately $108,000. Jackson Grant Investment Advisers Inc. boosted its position in shares of Amgen by 0.8% during the second quarter. Jackson Grant Investment Advisers Inc. now owns 641 shares of the medical research company’s stock valued at $110,000 after purchasing an additional 5 shares in the last quarter. Phocas Financial Corp. bought a new stake in Amgen in the second quarter worth $110,000. Omnia Family Wealth LLC boosted its holdings in Amgen by 25.3% in the second quarter. Omnia Family Wealth LLC now owns 729 shares of the medical research company’s stock worth $125,000 after acquiring an additional 147 shares in the last quarter. Finally, Grove Bank & Trust raised its stake in shares of Amgen by 87.4% in the second quarter. Grove Bank & Trust now owns 731 shares of the medical research company’s stock worth $126,000 after purchasing an additional 341 shares during the last quarter. 78.46% of the stock is currently owned by institutional investors and hedge funds.
AMGN has been the subject of several recent analyst reports. Vetr cut Amgen from a “buy” rating to a “hold” rating and set a $184.25 price target for the company. in a research note on Wednesday, January 3rd. Mizuho restated a “buy” rating and issued a $198.00 price target (up previously from $183.00) on shares of Amgen in a research note on Thursday, September 28th. Piper Jaffray Companies reiterated a “buy” rating on shares of Amgen in a research report on Tuesday, January 2nd. BMO Capital Markets reiterated a “hold” rating and set a $198.00 price objective on shares of Amgen in a research report on Friday, October 20th. Finally, Jefferies Group reiterated a “buy” rating and set a $200.00 price objective on shares of Amgen in a research report on Monday, September 25th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and ten have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $190.15.
In other news, Director Carbonnel Francois De sold 4,000 shares of the stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $173.61, for a total value of $694,440.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Sean E. Harper sold 1,525 shares of the firm’s stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $176.83, for a total value of $269,665.75. Following the transaction, the executive vice president now owns 56,106 shares in the company, valued at $9,921,223.98. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,050 shares of company stock worth $1,225,765. Company insiders own 0.19% of the company’s stock.
Shares of Amgen, Inc. (NASDAQ:AMGN) traded up $3.08 during trading on Friday, reaching $185.04. The company had a trading volume of 3,082,770 shares, compared to its average volume of 2,720,000. Amgen, Inc. has a 52 week low of $150.38 and a 52 week 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 company has a market capitalization of $134,320.00, a price-to-earnings ratio of 16.72, a PEG ratio of 2.66 and a beta of 1.36.
Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Wednesday, October 25th. The medical research company reported $3.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.11 by $0.16. Amgen had a return on equity of 29.90% and a net margin of 35.54%. The business 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 business posted $3.02 earnings per share. The company’s quarterly revenue was down .7% compared to the same quarter last year. sell-side analysts predict that Amgen, Inc. will post 12.71 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 8th. Stockholders of record on Thursday, February 15th will be issued a $1.32 dividend. This represents a $5.28 annualized dividend and a dividend yield of 2.85%. This is an increase from Amgen’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Wednesday, February 14th. Amgen’s dividend payout ratio is presently 41.55%.
Amgen declared that its board has approved a stock repurchase program on Wednesday, October 25th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the medical research company to purchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.
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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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