Tower Bridge Advisors Decreases Holdings in Amgen, Inc. (AMGN)

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 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).

Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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