Girard Partners LTD. Increases Position in Amgen, Inc. (NASDAQ:AMGN)

Girard Partners LTD. grew its position in Amgen, Inc. (NASDAQ:AMGN) by 1.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,836 shares of the medical research company’s stock after purchasing an additional 692 shares during the quarter. Amgen comprises approximately 1.6% of Girard Partners LTD.’s investment portfolio, making the stock its 11th biggest holding. Girard Partners LTD.’s holdings in Amgen were worth $7,614,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. F&V Capital Management LLC lifted its stake in shares of Amgen by 0.8% during the second quarter. F&V Capital Management LLC now owns 31,281 shares of the medical research company’s stock worth $5,388,000 after buying an additional 240 shares during the period. Johanson Financial Advisors Inc. lifted its stake in shares of Amgen by 1.5% during the second quarter. Johanson Financial Advisors Inc. now owns 2,100 shares of the medical research company’s stock worth $362,000 after buying an additional 32 shares during the period. Portland Global Advisors LLC lifted its stake in shares of Amgen by 0.3% during the second quarter. Portland Global Advisors LLC now owns 15,071 shares of the medical research company’s stock worth $2,596,000 after buying an additional 45 shares during the period. Appleton Partners Inc. MA lifted its stake in shares of Amgen by 3.3% during the second quarter. Appleton Partners Inc. MA now owns 17,180 shares of the medical research company’s stock worth $2,959,000 after buying an additional 550 shares during the period. Finally, Laurel Grove Capital LLC lifted its stake in shares of Amgen by 71.9% during the second quarter. Laurel Grove Capital LLC now owns 3,467 shares of the medical research company’s stock worth $597,000 after buying an additional 1,450 shares during the period. 78.95% of the stock is currently owned by institutional investors and hedge funds.

Several research firms have recently commented on AMGN. Piper Jaffray Companies lowered their price objective on shares of Amgen from $194.00 to $190.00 and set an “overweight” rating for the company in a research note on Friday, February 2nd. Atlantic Securities downgraded shares of Amgen from an “overweight” rating to a “neutral” rating and set a $187.01 target price for the company. in a research report on Monday, February 5th. BMO Capital Markets boosted their target price on shares of Amgen from $192.00 to $202.00 and gave the company a “market perform” rating in a research report on Friday, February 2nd. Mizuho restated a “buy” rating and set a $200.00 target price (up from $192.00) on shares of Amgen in a research report on Monday. Finally, Morgan Stanley decreased their target price on shares of Amgen from $204.00 to $196.00 and set an “overweight” rating for the company in a research report on Friday, February 2nd. Sixteen analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Amgen currently has an average rating of “Hold” and an average price target of $191.84.

Amgen, Inc. (NASDAQ:AMGN) traded up $4.86 on Wednesday, reaching $179.52. 5,867,413 shares of the company’s stock were exchanged, compared to its average volume of 3,930,000. Amgen, Inc. has a one year low of $152.16 and a one year high of $201.23. The company has a quick ratio of 5.17, a current ratio of 5.49 and a debt-to-equity ratio of 1.35. The stock has a market capitalization of $130,320.00, a PE ratio of 69.58, a price-to-earnings-growth ratio of 2.15 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). The company had revenue of $5.80 billion for the quarter, compared to analysts’ expectations of $5.84 billion. Amgen had a return on equity of 30.87% and a net margin of 8.66%. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same period in the prior year, the firm earned $2.89 EPS. analysts predict that Amgen, Inc. will post 13.22 earnings per share 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 paid a dividend of $1.32 per share. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 2.94%. This is a boost from Amgen’s previous quarterly dividend of $1.15. Amgen’s payout ratio is currently 178.29%.

Amgen announced that its board has approved a share repurchase program on Wednesday, October 25th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the medical research company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

In other news, EVP Sean E. Harper sold 1,525 shares of the business’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $185.62, for a total transaction of $283,070.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.19% of the stock is owned by insiders.

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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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