TrueNorth Inc. lifted its stake in shares of Amgen, Inc. (NASDAQ:AMGN) by 136.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,548 shares of the medical research company’s stock after buying an additional 5,504 shares during the quarter. TrueNorth Inc.’s holdings in Amgen were worth $1,660,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in AMGN. Swiss National Bank boosted its holdings in Amgen by 2.1% in the second quarter. Swiss National Bank now owns 2,690,908 shares of the medical research company’s stock worth $463,455,000 after purchasing an additional 54,900 shares during the period. Delta Lloyd Asset Management N.V. acquired a new position in Amgen in the second quarter worth $13,728,000. Artemis Investment Management LLP boosted its holdings in Amgen by 168.7% in the second quarter. Artemis Investment Management LLP now owns 139,877 shares of the medical research company’s stock worth $24,090,000 after purchasing an additional 87,822 shares during the period. Hikari Power Ltd boosted its holdings in Amgen by 2.9% in the second quarter. Hikari Power Ltd now owns 42,700 shares of the medical research company’s stock worth $7,354,000 after purchasing an additional 1,200 shares during the period. Finally, Oppenheimer & Co. Inc. boosted its holdings in Amgen by 5.5% in the second quarter. Oppenheimer & Co. Inc. now owns 171,548 shares of the medical research company’s stock worth $29,546,000 after purchasing an additional 8,888 shares during the period. 79.50% of the stock is owned by institutional investors and hedge funds.
Shares of Amgen, Inc. (AMGN) opened at $182.55 on Tuesday. Amgen, Inc. has a one year low of $152.16 and a one year high of $201.23. The company has a current ratio of 5.49, a quick ratio of 5.17 and a debt-to-equity ratio of 1.35. The firm has a market cap of $135,638.63, a PE ratio of 71.03, a P/E/G ratio of 2.31 and a beta of 1.37.
Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Thursday, February 1st. The medical research company reported $2.89 earnings per share for the quarter, missing analysts’ consensus estimates of $3.03 by ($0.14). Amgen had a net margin of 8.66% and a return on equity of 30.87%. The company had revenue of $5.80 billion for the quarter, compared to the consensus estimate of $5.84 billion. During the same quarter in the prior year, the firm earned $2.89 earnings per share. Amgen’s revenue for the quarter was down 2.7% compared to the same quarter last year. research analysts predict that Amgen, Inc. will post 13.25 EPS for the current year.
Amgen announced that its Board of Directors has approved a stock repurchase program on Thursday, February 1st that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the medical research company to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 8th. Investors of record on Thursday, May 17th will be paid a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date is Wednesday, May 16th. Amgen’s dividend payout ratio is currently 205.45%.
In related news, EVP Sean E. Harper sold 1,525 shares of Amgen 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders have sold 4,575 shares of company stock worth $838,064. Company insiders own 0.19% of the company’s stock.
A number of research firms have commented on AMGN. Argus raised shares of Amgen from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $192.33 to $220.00 in a report on Tuesday, January 23rd. Royal Bank of Canada reaffirmed a “hold” rating and issued a $189.00 price objective on shares of Amgen in a report on Wednesday, January 24th. JPMorgan Chase & Co. lifted their price objective on shares of Amgen from $184.00 to $189.00 and gave the stock a “neutral” rating in a report on Wednesday, January 24th. Vetr downgraded shares of Amgen from a “hold” rating to a “sell” rating and set a $181.60 price objective for the company. in a report on Tuesday, March 6th. Finally, BMO Capital Markets lifted their price objective on shares of Amgen from $192.00 to $202.00 and gave the stock a “market perform” rating in a report on Friday, February 2nd. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and eleven have given a buy rating to the company’s stock. Amgen has an average rating of “Hold” and an average price target of $191.72.
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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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