Principal Financial Group Inc. decreased its position in Amgen, Inc. (NASDAQ:AMGN) by 3.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,172,675 shares of the medical research company’s stock after selling 44,375 shares during the quarter. Principal Financial Group Inc. owned 0.16% of Amgen worth $218,645,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in AMGN. Shelton Capital Management increased its position in Amgen by 82.7% during the 1st quarter. Shelton Capital Management now owns 108,997 shares of the medical research company’s stock valued at $17,883,000 after buying an additional 49,354 shares in the last quarter. Westover Capital Advisors LLC increased its position in Amgen by 5.0% during the 1st quarter. Westover Capital Advisors LLC now owns 9,692 shares of the medical research company’s stock valued at $1,590,000 after buying an additional 460 shares in the last quarter. Fiduciary Trust Co. increased its position in Amgen by 12.7% during the 1st quarter. Fiduciary Trust Co. now owns 82,260 shares of the medical research company’s stock valued at $13,497,000 after buying an additional 9,261 shares in the last quarter. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund increased its position in Amgen by 6.7% during the 1st quarter. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund now owns 24,240 shares of the medical research company’s stock valued at $3,977,000 after buying an additional 1,532 shares in the last quarter. Finally, Brighton Jones LLC increased its position in Amgen by 83.2% during the 1st quarter. Brighton Jones LLC now owns 2,642 shares of the medical research company’s stock valued at $433,000 after buying an additional 1,200 shares in the last quarter. 78.56% of the stock is currently owned by institutional investors and hedge funds.
AMGN has been the topic of a number of research reports. Zacks Investment Research raised Amgen from a “hold” rating to a “buy” rating and set a $199.00 price objective on the stock in a report on Friday, October 27th. Bank of America increased their price objective on Amgen to $210.00 and gave the company a “buy” rating in a report on Thursday, October 5th. Barclays increased their price objective on Amgen from $180.00 to $190.00 and gave the company an “equal weight” rating in a report on Friday, October 13th. Citigroup downgraded Amgen to a “neutral” rating in a research note on Monday, December 18th. Finally, Royal Bank of Canada lowered their target price on Amgen from $192.00 to $188.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 26th. Fifteen research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $191.28.
In related news, Director Carbonnel Francois De sold 4,000 shares of Amgen stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $173.61, for a total value of $694,440.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Sean E. Harper sold 1,525 shares of Amgen stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $185.62, for a total value of $283,070.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,575 shares of company stock valued at $1,508,836. Company insiders own 0.19% of the company’s stock.
Amgen, Inc. (AMGN) traded down $5.22 on Wednesday, hitting $186.05. The stock had a trading volume of 4,676,357 shares, compared to its average volume of 2,870,000. Amgen, Inc. has a 1-year low of $152.16 and a 1-year high of $201.23. The stock has a market capitalization of $135,060.00, a price-to-earnings ratio of 16.81, a P/E/G ratio of 2.91 and a beta of 1.36. 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 declared a quarterly dividend, which will be paid on Thursday, March 8th. Stockholders of record on Thursday, February 15th will be given a dividend of $1.32 per share. 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 2.84%. The ex-dividend date of this dividend is Wednesday, February 14th. Amgen’s dividend payout ratio (DPR) is currently 41.55%.
Amgen declared that its board has initiated a share buyback 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 repurchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
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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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