Fort Pitt Capital Group LLC lessened its stake in Amgen, Inc. (NASDAQ:AMGN) by 1.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 82,119 shares of the medical research company’s stock after selling 851 shares during the quarter. Fort Pitt Capital Group LLC’s holdings in Amgen were worth $14,280,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of AMGN. Baker Ellis Asset Management LLC bought a new stake in Amgen during the 3rd quarter valued at $108,000. Jackson Grant Investment Advisers Inc. raised its holdings in Amgen by 0.8% during the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 641 shares of the medical research company’s stock valued at $110,000 after acquiring an additional 5 shares during the period. Phocas Financial Corp. bought a new stake in Amgen during the 2nd quarter valued at $110,000. Omnia Family Wealth LLC raised its holdings in Amgen by 25.3% during the 2nd quarter. Omnia Family Wealth LLC now owns 729 shares of the medical research company’s stock valued at $125,000 after acquiring an additional 147 shares during the period. Finally, Salem Investment Counselors Inc. raised its holdings in Amgen by 4.7% during the 2nd quarter. Salem Investment Counselors Inc. now owns 809 shares of the medical research company’s stock valued at $139,000 after acquiring an additional 36 shares during the period. 79.61% of the stock is currently owned by institutional investors.
Amgen, Inc. (NASDAQ:AMGN) opened at $188.24 on Friday. Amgen, Inc. has a 1 year low of $152.16 and a 1 year high of $201.23. The stock has a market cap of $135,638.59, a price-to-earnings ratio of 73.25, a P/E/G ratio of 2.31 and a beta of 1.37. The company has a debt-to-equity ratio of 1.35, a current ratio of 5.49 and a quick ratio of 5.17.
Amgen (NASDAQ:AMGN) last announced its earnings results on Thursday, February 1st. The medical research company reported $2.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.03 by ($0.14). Amgen had a return on equity of 30.87% and a net margin of 8.66%. The company had revenue of $5.80 billion during the quarter, compared to analysts’ expectations of $5.84 billion. During the same quarter last year, the firm posted $2.89 earnings per share. The firm’s revenue was down 2.7% on a year-over-year basis. analysts predict that Amgen, Inc. will post 13.25 EPS for the current fiscal year.
Amgen announced that its board has initiated a stock repurchase plan on Thursday, February 1st that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the medical research company to repurchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 8th. Shareholders of record on Thursday, May 17th will be given a dividend of $1.32 per share. The ex-dividend date of this dividend is Wednesday, May 16th. This represents a $5.28 annualized dividend and a yield of 2.80%. Amgen’s payout ratio is 205.45%.
In other Amgen news, EVP Sean E. Harper sold 1,525 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $174.18, for a total transaction of $265,624.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.19% of the company’s stock.
A number of equities research analysts have issued reports on AMGN shares. Vetr cut shares of Amgen from a “buy” rating to a “hold” rating and set a $184.25 target price on the stock. in a report on Wednesday, January 3rd. Royal Bank of Canada reissued a “hold” rating and set a $189.00 target price on shares of Amgen in a report on Wednesday, January 24th. Piper Jaffray Companies restated a “buy” rating on shares of Amgen in a research report on Tuesday, January 2nd. Cann restated a “buy” rating and set a $205.00 price target on shares of Amgen in a research report on Thursday, November 30th. Finally, Cowen restated a “buy” rating and set a $204.00 price target on shares of Amgen in a research report on Friday, February 2nd. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $191.72.
ILLEGAL ACTIVITY WARNING: “Fort Pitt Capital Group LLC Lowers Position in Amgen, Inc. (AMGN)” was reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are viewing this report on another domain, it was illegally stolen and republished in violation of US & international trademark & copyright laws. The legal version of this report can be accessed at https://www.dispatchtribunal.com/2018/03/18/fort-pitt-capital-group-llc-lowers-position-in-amgen-inc-amgn.html.
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).
Receive News & Ratings for Amgen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amgen and related companies with MarketBeat.com's FREE daily email newsletter.