Tower Bridge Advisors trimmed its position in shares of Amgen, Inc. (NASDAQ:AMGN) by 8.8% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,519 shares of the medical research company’s stock after selling 820 shares during the period. Tower Bridge Advisors’ holdings in Amgen were worth $1,588,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Baker Ellis Asset Management LLC acquired a new position in Amgen during the third quarter worth $108,000. Phocas Financial Corp. purchased a new stake in shares of Amgen during the second quarter worth $110,000. Jackson Grant Investment Advisers Inc. increased 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 worth $110,000 after acquiring an additional 5 shares during the period. Omnia Family Wealth LLC increased its position 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 acquiring an additional 147 shares during the period. Finally, Grove Bank & Trust increased its position in shares of 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 acquiring an additional 341 shares during the period. Institutional investors own 78.46% of the company’s stock.
Amgen, Inc. (AMGN) opened at $185.04 on Friday. The company has a market capitalization 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. The company has a quick ratio of 5.72, a current ratio of 6.07 and a debt-to-equity ratio of 1.05. Amgen, Inc. has a twelve month low of $150.38 and a twelve month high of $191.10.
Amgen (NASDAQ:AMGN) last posted its 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 firm had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.75 billion. Amgen had a return on equity of 29.90% and a net margin of 35.54%. Amgen’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.02 earnings per share. equities analysts expect that Amgen, Inc. will post 12.71 EPS for the current fiscal year.
Amgen declared that its board has initiated a stock 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 reacquire shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 8th. Investors of record on Thursday, February 15th will be issued a $1.32 dividend. This represents a $5.28 annualized dividend and a yield of 2.85%. The ex-dividend date of this dividend is Wednesday, February 14th. This is a positive change from Amgen’s previous quarterly dividend of $1.15. Amgen’s dividend payout ratio is 41.55%.
In other Amgen news, Director Carbonnel Francois De sold 4,000 shares of the company’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $173.61, for a total value of $694,440.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Sean E. Harper sold 1,525 shares of the company’s stock in a transaction 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 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. Insiders sold 7,050 shares of company stock worth $1,225,765 in the last three months. 0.19% of the stock is currently owned by corporate insiders.
A number of analysts have recently weighed in on the company. Oppenheimer set a $205.00 price objective on Amgen and gave the stock a “buy” rating in a research report on Friday, January 5th. Vetr lowered Amgen from a “buy” rating to a “hold” rating and set a $184.25 price objective on the stock. in a research report on Wednesday, January 3rd. Piper Jaffray Companies reaffirmed a “buy” rating on shares of Amgen in a research report on Tuesday, January 2nd. Mizuho set a $192.00 price objective on Amgen and gave the stock a “buy” rating in a research report on Thursday, December 28th. Finally, Citigroup lowered Amgen to a “neutral” rating in a research report on Monday, December 18th. One investment 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. The company has an average rating of “Hold” and a consensus price target of $190.15.
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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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