Municipal Employees Retirement System of Michigan trimmed its position in shares of Amgen, Inc. (NASDAQ:AMGN) by 12.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,770 shares of the medical research company’s stock after selling 5,150 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in Amgen were worth $6,670,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of AMGN. Baker Ellis Asset Management LLC acquired a new position in Amgen during the third quarter worth about $108,000. Jackson Grant Investment Advisers Inc. grew its position in 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 period. Phocas Financial Corp. acquired a new position in Amgen during the second quarter worth about $110,000. Omnia Family Wealth LLC grew its position in 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 period. Finally, Grove Bank & Trust grew its position in Amgen by 87.4% during the second quarter. Grove Bank & Trust now owns 731 shares of the medical research company’s stock worth $126,000 after buying an additional 341 shares during the period. Institutional investors and hedge funds 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 current ratio of 6.07 and a quick ratio of 5.72. The stock has a market cap of $134,322.56, a PE ratio of 14.71, a price-to-earnings-growth ratio of 2.70 and a beta of 1.36. Amgen, Inc. has a fifty-two week low of $150.38 and a fifty-two week high of $191.10.
Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Wednesday, October 25th. The medical research company reported $3.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.11 by $0.16. The business had revenue of $5.77 billion for 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%. The company’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.02 earnings per share. equities research analysts expect that Amgen, Inc. will post 12.71 EPS for the current fiscal year.
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 paid a dividend of $1.32 per share. 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 is presently 41.63%.
Amgen declared that its Board of Directors has initiated a stock repurchase plan 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 reacquire shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.
Several brokerages have weighed in on AMGN. Oppenheimer set a $205.00 target price on shares of Amgen and gave the stock a “buy” rating in a research report on Friday, January 5th. Vetr lowered shares of Amgen from a “buy” rating to a “hold” rating and set a $184.25 target price on the stock. in a research report on Wednesday, January 3rd. Piper Jaffray Companies restated a “buy” rating on shares of Amgen in a research report on Tuesday, January 2nd. Mizuho set a $192.00 price target on shares of Amgen and gave the company a “buy” rating in a report on Thursday, December 28th. Finally, Citigroup downgraded shares of Amgen to a “neutral” rating in a report on Monday, December 18th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and ten have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $190.15.
In related news, EVP Sean E. Harper sold 1,525 shares of the company’s stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $176.83, for a total transaction of $269,665.75. Following the transaction, the executive vice president now owns 56,106 shares of the company’s stock, valued at $9,921,223.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Carbonnel Francois De sold 4,000 shares of the company’s stock in a transaction that occurred 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. Insiders have sold 7,050 shares of company stock worth $1,225,765 in the last three months. Insiders own 0.19% of the company’s stock.
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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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