Cadinha & Co. LLC lifted its holdings in shares of Amgen, Inc. (NASDAQ:AMGN) by 13.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,786 shares of the medical research company’s stock after purchasing an additional 1,500 shares during the period. Cadinha & Co. LLC’s holdings in Amgen were worth $2,384,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in AMGN. Janus Henderson Group PLC raised its stake in Amgen by 3,664.7% in the 2nd quarter. Janus Henderson Group PLC now owns 3,699,351 shares of the medical research company’s stock valued at $637,139,000 after acquiring an additional 3,601,087 shares during the period. FMR LLC raised its stake in Amgen by 4.8% in the 2nd quarter. FMR LLC now owns 56,999,572 shares of the medical research company’s stock valued at $9,817,037,000 after acquiring an additional 2,587,041 shares during the period. Renaissance Technologies LLC raised its stake in Amgen by 40.9% in the 2nd quarter. Renaissance Technologies LLC now owns 3,400,145 shares of the medical research company’s stock valued at $585,607,000 after acquiring an additional 986,700 shares during the period. BlackRock Inc. raised its stake in Amgen by 1.9% in the 2nd quarter. BlackRock Inc. now owns 49,451,203 shares of the medical research company’s stock valued at $8,516,980,000 after acquiring an additional 909,689 shares during the period. Finally, Nordea Investment Management AB raised its stake in Amgen by 12.9% in the 2nd quarter. Nordea Investment Management AB now owns 7,040,599 shares of the medical research company’s stock valued at $1,212,602,000 after acquiring an additional 806,119 shares during the period. Institutional investors own 78.95% of the company’s stock.
AMGN has been the topic of a number of research reports. BMO Capital Markets restated a “market perform” rating and issued a $198.00 price objective on shares of Amgen in a research note on Thursday, October 26th. BidaskClub upgraded Amgen from a “strong sell” rating to a “sell” rating in a research report on Saturday, December 2nd. Goldman Sachs Group cut Amgen from a “conviction-buy” rating to a “buy” rating in a research report on Friday, December 15th. Zacks Investment Research cut Amgen from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. Finally, Piper Jaffray Companies reiterated a “buy” rating on shares of Amgen in a research report on Tuesday, January 2nd. Sixteen investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $191.84.
Shares of Amgen, Inc. (NASDAQ AMGN) traded up $1.07 during midday trading on Wednesday, hitting $175.94. The stock had a trading volume of 3,834,600 shares, compared to its average volume of 3,942,396. The stock has a market capitalization of $128,650.00, a price-to-earnings ratio of 69.30, a price-to-earnings-growth ratio of 2.15 and a beta of 1.42. The company has a quick ratio of 5.17, a current ratio of 5.49 and a debt-to-equity ratio of 1.35. Amgen, Inc. has a 52 week low of $152.16 and a 52 week high of $201.23.
Amgen (NASDAQ:AMGN) last issued its earnings results on Thursday, February 1st. The medical research company reported $2.89 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.03 by ($0.14). The firm had revenue of $5.80 billion during 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 quarterly revenue was down 2.7% compared to the same quarter last year. During the same period in the prior year, the company earned $2.89 EPS. analysts anticipate that Amgen, Inc. will post 13.22 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 paid a $1.32 dividend. The ex-dividend date is Wednesday, February 14th. This represents a $5.28 annualized dividend and a yield of 3.00%. This is a positive change from Amgen’s previous quarterly dividend of $1.15. Amgen’s dividend payout ratio is currently 178.29%.
Amgen announced that its Board of Directors has initiated a stock buyback 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 buy shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.
In other Amgen news, EVP Sean E. Harper sold 1,525 shares of the company’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 completion of the sale, the executive vice president now owns 56,106 shares of the company’s stock, valued at $9,921,223.98. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.19% of the stock is owned by corporate insiders.
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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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