Tower Bridge Advisors reduced its stake in Amgen, Inc. (NASDAQ:AMGN) by 8.8% during the 3rd 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 quarter. Tower Bridge Advisors’ holdings in Amgen were worth $1,588,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Intrust Bank NA increased its stake in Amgen by 4.5% during the third quarter. Intrust Bank NA now owns 7,799 shares of the medical research company’s stock worth $1,454,000 after acquiring an additional 336 shares during the last quarter. Zweig DiMenna Associates LLC acquired a new stake in Amgen during the third quarter worth about $298,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH increased its stake in Amgen by 97.9% during the third quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 50,513 shares of the medical research company’s stock worth $9,397,000 after acquiring an additional 24,983 shares during the last quarter. HM Payson & Co. increased its stake in Amgen by 4.9% during the third quarter. HM Payson & Co. now owns 184,006 shares of the medical research company’s stock worth $34,308,000 after acquiring an additional 8,513 shares during the last quarter. Finally, Courier Capital LLC increased its stake in Amgen by 185.1% during the third quarter. Courier Capital LLC now owns 50,989 shares of the medical research company’s stock worth $9,507,000 after acquiring an additional 33,102 shares during the last quarter. Institutional investors and hedge funds own 78.59% of the company’s stock.
Several equities research analysts have commented on the company. Atlantic Securities lowered Amgen from an “overweight” rating to a “neutral” rating and set a $187.01 price target for the company. in a research note on Monday. JPMorgan Chase & Co. reiterated a “hold” rating and issued a $191.00 target price on shares of Amgen in a research note on Sunday. Leerink Swann reiterated a “market perform” rating on shares of Amgen in a research note on Friday. Cowen reiterated a “buy” rating and issued a $204.00 target price on shares of Amgen in a research note on Friday. Finally, Credit Suisse Group increased their target price on Amgen from $191.00 to $194.00 and gave the company a “neutral” rating in a research note on Friday. Sixteen investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $191.49.
In other Amgen news, EVP Sean E. Harper sold 1,525 shares of the stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $185.62, for a total transaction of $283,070.50. The transaction was disclosed in a filing with the SEC, 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 stock was 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. In the last ninety days, insiders have sold 8,575 shares of company stock worth $1,508,836. 0.19% of the stock is currently owned by company insiders.
Shares of Amgen, Inc. (NASDAQ AMGN) traded down $12.26 during midday trading on Monday, reaching $174.75. The company’s stock had a trading volume of 6,920,000 shares, compared to its average volume of 3,020,000. The company has a current ratio of 5.49, a quick ratio of 5.17 and a debt-to-equity ratio of 1.35. Amgen, Inc. has a 12-month low of $152.16 and a 12-month high of $201.23. The firm has a market cap of $126,850.00, a price-to-earnings ratio of 67.73, a PEG ratio of 2.69 and a beta of 1.42.
Amgen (NASDAQ:AMGN) last released its earnings results on Thursday, February 1st. The medical research company reported $2.89 EPS for the quarter, missing analysts’ consensus estimates of $3.03 by ($0.14). Amgen had a return on equity of 30.87% and a net margin of 8.66%. The firm had revenue of $5.80 billion for the quarter, compared to the consensus estimate of $5.84 billion. During the same period in the prior year, the business earned $2.89 EPS. The company’s quarterly revenue was down 2.7% on a year-over-year basis. equities analysts anticipate that Amgen, Inc. will post 12.96 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 8th. Shareholders of record on Thursday, February 15th will be issued a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date is Wednesday, February 14th. This is an increase from Amgen’s previous quarterly dividend of $1.15. Amgen’s dividend payout ratio (DPR) is currently 178.29%.
Amgen announced that its Board of Directors has initiated a stock repurchase program on Wednesday, October 25th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to reacquire shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.
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Amgen Company 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).
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