Sunbelt Securities Inc. boosted its stake in shares of Amgen, Inc. (NASDAQ:AMGN) by 93.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,430 shares of the medical research company’s stock after acquiring an additional 1,656 shares during the quarter. Sunbelt Securities Inc. owned about 472.51% of Amgen worth $639,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently bought and sold shares of AMGN. Baker Ellis Asset Management LLC purchased a new position in Amgen during the third quarter worth $108,000. Jackson Grant Investment Advisers Inc. increased 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 in the last quarter. Phocas Financial Corp. purchased a new position in Amgen during the second quarter worth $110,000. Omnia Family Wealth LLC increased 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 in the last quarter. Finally, Grove Bank & Trust increased 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 in the last quarter. 78.48% of the stock is owned by institutional investors.
AMGN has been the subject of several recent research reports. BMO Capital Markets reissued a “market perform” rating and set a $198.00 price target on shares of Amgen in a research report on Thursday, October 26th. Mizuho reaffirmed a “buy” rating and issued a $198.00 price objective (up previously from $183.00) on shares of Amgen in a research report on Thursday, September 28th. Zacks Investment Research downgraded Amgen from a “buy” rating to a “hold” rating in a research report on Monday, October 16th. BidaskClub raised Amgen from a “strong sell” rating to a “sell” rating in a research report on Saturday, December 2nd. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $196.00 price objective (up previously from $189.00) on shares of Amgen in a research report on Friday, October 6th. 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 company. The company has an average rating of “Hold” and a consensus target price of $190.15.
Shares of Amgen, Inc. (NASDAQ AMGN) opened at $185.54 on Wednesday. The firm has a market capitalization of $134,690.00, a PE ratio of 16.76, a P/E/G 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. 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 (NASDAQ:AMGN) last posted its earnings results on Wednesday, October 25th. The medical research company reported $3.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.11 by $0.16. The company had revenue of $5.77 billion during 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%. The business’s revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the company earned $3.02 earnings per share. equities analysts anticipate that Amgen, Inc. will post 12.71 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 8th. Stockholders of record on Thursday, February 15th will be issued a dividend of $1.32 per share. The ex-dividend date is Wednesday, February 14th. This is a positive change from Amgen’s previous quarterly dividend of $1.15. This represents a $5.28 annualized dividend and a dividend yield of 2.85%. Amgen’s dividend payout ratio is 41.55%.
Amgen announced that its board has authorized a share 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 purchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.
In other news, Director Carbonnel Francois De sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $173.61, for a total transaction of $694,440.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Sean E. Harper sold 1,525 shares of the business’s stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $176.83, for a total value 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 disclosure for this sale can be found here. Insiders have sold 7,050 shares of company stock valued at $1,225,765 over the last ninety days. Corporate 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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