Palisade Asset Management LLC lifted its stake in Amgen, Inc. (NASDAQ:AMGN) by 1.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 84,454 shares of the medical research company’s stock after purchasing an additional 1,355 shares during the period. Amgen accounts for approximately 2.3% of Palisade Asset Management LLC’s holdings, making the stock its 9th largest holding. Palisade Asset Management LLC’s holdings in Amgen were worth $14,687,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of the company. Baker Ellis Asset Management LLC bought a new position in Amgen during the third quarter worth about $108,000. Jackson Grant Investment Advisers Inc. lifted its holdings in Amgen by 0.8% during the second quarter. Jackson Grant Investment Advisers Inc. now owns 641 shares of the medical research company’s stock worth $110,000 after acquiring an additional 5 shares in the last quarter. Phocas Financial Corp. bought a new position in Amgen during the second quarter worth about $110,000. Omnia Family Wealth LLC lifted its holdings in Amgen by 25.3% during the second quarter. Omnia Family Wealth LLC now owns 729 shares of the medical research company’s stock worth $125,000 after acquiring an additional 147 shares in the last quarter. Finally, Salem Investment Counselors Inc. lifted its holdings in Amgen by 4.7% during the second quarter. Salem Investment Counselors Inc. now owns 809 shares of the medical research company’s stock worth $139,000 after acquiring an additional 36 shares in the last quarter. Institutional investors and hedge funds own 79.53% of the company’s stock.
AMGN has been the topic of several recent analyst reports. Oppenheimer reiterated a “buy” rating and set a $205.00 target price on shares of Amgen in a report on Tuesday, January 30th. Argus upgraded Amgen from a “hold” rating to a “buy” rating and boosted their price target for the company from $192.33 to $220.00 in a report on Tuesday, January 23rd. Piper Jaffray restated a “buy” rating on shares of Amgen in a report on Tuesday, January 2nd. Mizuho set a $192.00 price target on Amgen and gave the company a “buy” rating in a report on Thursday, December 28th. Finally, Goldman Sachs lowered Amgen from a “conviction-buy” rating to a “buy” rating in a report on Friday, December 15th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eleven have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $190.57.
NASDAQ:AMGN opened at $168.14 on Friday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 5.17 and a current ratio of 5.49. The stock has a market capitalization of $125,031.95, a P/E ratio of 13.37, a P/E/G ratio of 2.13 and a beta of 1.36. Amgen, Inc. has a 52-week low of $152.16 and a 52-week high of $201.23.
Amgen (NASDAQ:AMGN) last released its earnings results on Thursday, February 1st. The medical research company reported $2.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.03 by ($0.14). The company had revenue of $5.80 billion during the quarter, compared to analyst estimates of $5.84 billion. Amgen had a net margin of 8.66% and a return on equity of 30.87%. Amgen’s revenue was down 2.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.89 EPS. analysts anticipate that Amgen, Inc. will post 13.25 earnings per share for the current year.
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. This represents a $5.28 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date of this dividend is Wednesday, May 16th. Amgen’s dividend payout ratio (DPR) is presently 41.97%.
Amgen declared that its Board of Directors has authorized a share repurchase program on Thursday, February 1st that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the medical research company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
In other Amgen news, EVP Sean E. Harper sold 1,525 shares of the business’s 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last three months, insiders have sold 4,575 shares of company stock worth $838,064. Company insiders own 0.19% of the company’s stock.
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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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