Amgen, Inc. (AMGN) is Smead Capital Management Inc.’s 2nd Largest Position

Smead Capital Management Inc. lessened its stake in Amgen, Inc. (NASDAQ:AMGN) by 1.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 712,902 shares of the medical research company’s stock after selling 9,547 shares during the quarter. Amgen accounts for about 6.3% of Smead Capital Management Inc.’s holdings, making the stock its 2nd biggest position. Smead Capital Management Inc. owned approximately 0.10% of Amgen worth $132,921,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in AMGN. Financial Advisory Service Inc. grew its position in Amgen by 0.3% in the second quarter. Financial Advisory Service Inc. now owns 1,974 shares of the medical research company’s stock worth $340,000 after acquiring an additional 5 shares in the last quarter. Jackson Grant Investment Advisers Inc. grew its position in Amgen by 0.8% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 641 shares of the medical research company’s stock worth $110,000 after acquiring an additional 5 shares in the last quarter. Capital Advisors Ltd. LLC grew its position in Amgen by 0.6% in the second quarter. Capital Advisors Ltd. LLC now owns 1,103 shares of the medical research company’s stock worth $190,000 after acquiring an additional 7 shares in the last quarter. Ballentine Partners LLC grew its position in Amgen by 0.3% in the second quarter. Ballentine Partners LLC now owns 3,441 shares of the medical research company’s stock worth $620,000 after acquiring an additional 9 shares in the last quarter. Finally, Hudock Capital Group LLC grew its position in Amgen by 0.5% in the second quarter. Hudock Capital Group LLC now owns 1,921 shares of the medical research company’s stock worth $330,000 after acquiring an additional 10 shares in the last quarter. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Shares of Amgen, Inc. (NASDAQ AMGN) opened at $185.04 on Friday. 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 stock has a market cap of $134,320.00, a price-to-earnings ratio of 16.72, a P/E/G ratio of 2.70 and a beta of 1.36. Amgen, Inc. has a 1-year low of $150.38 and a 1-year high of $191.10.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Wednesday, October 25th. The medical research company reported $3.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.11 by $0.16. The business had revenue of $5.77 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.02 EPS. analysts anticipate that Amgen, Inc. will post 12.71 earnings per share for the current year.

Amgen announced that its Board of Directors has authorized a share repurchase plan on Wednesday, October 25th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the medical research company to purchase shares of its stock through open market purchases. Shares repurchase plans are often 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 Thursday, March 8th. Investors of record on Thursday, February 15th will be issued a dividend of $1.32 per share. This is an increase from Amgen’s previous quarterly dividend of $1.15. This represents a $5.28 annualized dividend and a dividend yield of 2.85%. The ex-dividend date of this dividend is Wednesday, February 14th. Amgen’s dividend payout ratio is currently 41.55%.

In other Amgen news, EVP Sean E. Harper sold 1,525 shares of the stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $176.83, for a total value of $269,665.75. Following the completion of the sale, the executive vice president now directly owns 56,106 shares of the company’s stock, valued at approximately $9,921,223.98. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Carbonnel Francois De sold 4,000 shares of the stock in a transaction on Wednesday, November 8th. The shares were 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. Over the last three months, insiders sold 7,050 shares of company stock valued at $1,225,765. Insiders own 0.19% of the company’s stock.

Several analysts have commented on the stock. Mizuho set a $192.00 target price on shares of Amgen and gave the stock a “buy” rating in a research report on Friday, December 22nd. Zacks Investment Research downgraded shares of Amgen from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. Royal Bank of Canada decreased their target price on shares of Amgen from $192.00 to $188.00 and set a “sector perform” rating for the company in a research report on Thursday, October 26th. Credit Suisse Group reissued a “neutral” rating and issued a $186.00 target price (up from $177.00) on shares of Amgen in a research report on Friday, September 29th. Finally, Oppenheimer reissued a “buy” rating and issued a $205.00 target price on shares of Amgen in a research report on Thursday, November 30th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and ten have given a buy rating to the company’s stock. Amgen presently has a consensus rating of “Hold” and an average target price of $190.15.

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About Amgen

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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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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