American Assets Investment Management LLC cut its holdings in Amgen, Inc. (NASDAQ:AMGN) by 19.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,300 shares of the medical research company’s stock after selling 5,000 shares during the period. American Assets Investment Management LLC’s holdings in Amgen were worth $3,785,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of AMGN. Baker Ellis Asset Management LLC purchased a new position in shares of Amgen during the third quarter worth about $108,000. TrimTabs Asset Management LLC grew its holdings in shares of Amgen by 88.9% during the first quarter. TrimTabs Asset Management LLC now owns 612 shares of the medical research company’s stock worth $100,000 after buying an additional 288 shares during the last quarter. Phocas Financial Corp. purchased a new position in shares of Amgen during the second quarter worth about $110,000. Jackson Grant Investment Advisers Inc. grew its holdings 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 worth $110,000 after buying an additional 5 shares during the last quarter. Finally, Omnia Family Wealth LLC grew its holdings in shares of Amgen by 25.3% during the second quarter. Omnia Family Wealth LLC now owns 729 shares of the medical research company’s stock worth $125,000 after buying an additional 147 shares during the last quarter. Institutional investors own 78.46% of the company’s stock.
In related news, Director Carbonnel Francois De sold 4,000 shares of the stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $173.61, for a total transaction of $694,440.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Sean E. Harper sold 1,525 shares of the company’s stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $176.83, for a total transaction of $269,665.75. Following the completion of the transaction, the executive vice president now owns 56,106 shares of the company’s stock, valued at approximately $9,921,223.98. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,050 shares of company stock worth $1,225,765. 0.19% of the stock is owned by company insiders.
Amgen, Inc. (AMGN) opened at $185.04 on Friday. Amgen, Inc. has a 1-year low of $150.38 and a 1-year high of $191.10. The company has a debt-to-equity ratio of 1.05, a current ratio of 6.07 and a quick ratio of 5.72. The company has a market cap of $134,320.00, a price-to-earnings ratio of 16.72, a price-to-earnings-growth ratio of 2.66 and a beta of 1.36.
Amgen (NASDAQ:AMGN) last issued its earnings results 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. The business had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.75 billion. Amgen had a net margin of 35.54% and a return on equity of 29.90%. The company’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.02 EPS. equities analysts expect that Amgen, Inc. will post 12.71 earnings per share for the current fiscal year.
Amgen declared that its board 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 reacquire shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 8th. Investors of record on Thursday, February 15th will be paid a dividend of $1.32 per share. This is a positive change 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 yield of 2.85%. Amgen’s dividend payout ratio is 41.55%.
A number of brokerages have weighed in on AMGN. Bank of America lifted their price objective on Amgen to $210.00 and gave the company a “buy” rating in a report on Thursday, October 5th. Oppenheimer reiterated a “buy” rating and set a $203.00 price target on shares of Amgen in a research report on Friday, October 6th. Mizuho reiterated a “buy” rating and set a $198.00 price target on shares of Amgen in a research report on Friday, October 6th. Morgan Stanley reiterated an “overweight” rating and set a $196.00 price target (up from $189.00) on shares of Amgen in a research report on Friday, October 6th. Finally, Cann restated a “buy” rating and set a $203.00 price objective on shares of Amgen in a research report on Friday, October 6th. One 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 stock currently has an average rating of “Hold” and an average price target of $190.15.
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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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