Gabelli Funds LLC Reduces Holdings in Amgen, Inc. (NASDAQ:AMGN)

Gabelli Funds LLC decreased its holdings in Amgen, Inc. (NASDAQ:AMGN) by 49.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 64,500 shares of the medical research company’s stock after selling 63,700 shares during the quarter. Gabelli Funds LLC’s holdings in Amgen were worth $12,026,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Baker Ellis Asset Management LLC bought a new stake in Amgen in the third quarter worth $108,000. Phocas Financial Corp. bought a new stake in Amgen in the second quarter worth $110,000. Jackson Grant Investment Advisers Inc. increased 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 purchasing an additional 5 shares during the last quarter. Omnia Family Wealth LLC increased its position in Amgen by 25.3% in the second quarter. Omnia Family Wealth LLC now owns 729 shares of the medical research company’s stock worth $125,000 after purchasing an additional 147 shares during the last quarter. Finally, Grove Bank & Trust increased its position in Amgen by 87.4% in the second quarter. Grove Bank & Trust now owns 731 shares of the medical research company’s stock worth $126,000 after purchasing an additional 341 shares during the last quarter. 78.48% of the stock is currently owned by institutional investors and hedge funds.

Shares of Amgen, Inc. (NASDAQ:AMGN) opened at $196.01 on Monday. The company has a market cap of $142,290.00, a P/E ratio of 17.71, a PEG ratio of 2.80 and a beta of 1.36. Amgen, Inc. has a one year low of $152.16 and a one year high of $196.80. 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 company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 8th. Stockholders of record on Thursday, February 15th will be paid a dividend of $1.32 per share. This is a boost from Amgen’s previous quarterly dividend of $1.15. The ex-dividend date is Wednesday, February 14th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 2.69%. Amgen’s dividend payout ratio (DPR) is presently 41.55%.

Amgen declared that its Board of Directors has authorized a share repurchase plan on Wednesday, October 25th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the medical research company to reacquire shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Several equities research analysts recently weighed in on AMGN shares. Vetr cut shares of Amgen from a “buy” rating to a “hold” rating and set a $184.25 price target on the stock. in a research report on Wednesday, January 3rd. Royal Bank of Canada reiterated a “hold” rating and set a $189.00 price objective on shares of Amgen in a research report on Wednesday, January 24th. Piper Jaffray Companies reiterated a “buy” rating on shares of Amgen in a research report on Tuesday, January 2nd. BMO Capital Markets reiterated a “hold” rating and set a $198.00 price objective on shares of Amgen in a research report on Friday, October 20th. Finally, Barclays boosted their price objective on shares of Amgen from $180.00 to $190.00 and gave the company an “equal weight” rating in a research report on Friday, October 13th. Fifteen analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $191.28.

In other news, EVP Sean E. Harper sold 1,525 shares of the stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $171.58, for a total transaction of $261,659.50. Following the transaction, the executive vice president now owns 57,631 shares in the company, valued at approximately $9,888,326.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Carbonnel Francois De sold 4,000 shares of the stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $173.61, for a total value of $694,440.00. The disclosure for this sale can be found here. Insiders have sold a total of 8,575 shares of company stock worth $1,508,836 in the last ninety days. Corporate insiders own 0.19% of the company’s stock.

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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).

Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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