Amgen (AMGN) Holdings Raised by Kings Point Capital Management

Kings Point Capital Management boosted its holdings in shares of Amgen (NASDAQ:AMGN) by 10.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,637 shares of the medical research company’s stock after purchasing an additional 1,653 shares during the period. Kings Point Capital Management’s holdings in Amgen were worth $3,067,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Truewealth LLC acquired a new stake in Amgen in the fourth quarter valued at $341,000. ETRADE Capital Management LLC lifted its position in shares of Amgen by 5.6% during the 4th quarter. ETRADE Capital Management LLC now owns 11,558 shares of the medical research company’s stock worth $2,010,000 after buying an additional 609 shares in the last quarter. Annex Advisory Services LLC lifted its position in shares of Amgen by 5.6% during the 4th quarter. Annex Advisory Services LLC now owns 7,550 shares of the medical research company’s stock worth $1,313,000 after buying an additional 398 shares in the last quarter. Snow Capital Management LP lifted its position in shares of Amgen by 1.3% during the 4th quarter. Snow Capital Management LP now owns 52,381 shares of the medical research company’s stock worth $9,109,000 after buying an additional 654 shares in the last quarter. Finally, MML Investors Services LLC lifted its position in shares of Amgen by 19.5% during the 4th quarter. MML Investors Services LLC now owns 27,571 shares of the medical research company’s stock worth $4,795,000 after buying an additional 4,490 shares in the last quarter. Hedge funds and other institutional investors own 79.54% of the company’s stock.

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Several brokerages have recently issued reports on AMGN. Leerink Swann restated a “market perform” rating on shares of Amgen in a research note on Friday, February 2nd. Atlantic Securities lowered shares of Amgen from an “overweight” rating to a “neutral” rating and set a $187.01 price target for the company. in a research note on Monday, February 5th. BidaskClub upgraded shares of Amgen from a “sell” rating to a “hold” rating in a research note on Thursday, January 18th. Oppenheimer set a $205.00 price target on shares of Amgen and gave the stock a “buy” rating in a research note on Friday, January 5th. Finally, Credit Suisse Group raised their price target on shares of Amgen from $191.00 to $194.00 and gave the stock a “neutral” rating in a research note on Friday, February 2nd. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and eleven have issued a buy rating to the company’s stock. Amgen presently has a consensus rating of “Hold” and an average price target of $190.57.

Amgen stock opened at $171.38 on Tuesday. Amgen has a 1-year low of $152.16 and a 1-year high of $201.23. The company has a market capitalization of $114,595.02, a P/E ratio of 13.62, a price-to-earnings-growth ratio of 2.10 and a beta of 1.36. 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 (NASDAQ:AMGN) last released 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 business had revenue of $5.80 billion during the quarter, compared to analysts’ expectations of $5.84 billion. During the same quarter in the prior year, the firm posted $2.89 earnings per share. The firm’s quarterly revenue was down 2.7% on a year-over-year basis. sell-side analysts forecast that Amgen will post 13.26 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 8th. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.08%. Amgen’s dividend payout ratio (DPR) is currently 41.97%.

Amgen declared that its board has approved a share repurchase plan on Thursday, February 1st that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the medical research company to repurchase shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

In other news, EVP Sean E. Harper sold 1,525 shares of the business’s stock in a transaction on Thursday, April 12th. The shares were sold at an average price of $172.68, for a total transaction of $263,337.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 4,575 shares of company stock valued at $818,330 over the last 90 days. Company insiders own 0.19% of the company’s stock.

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Amgen Company Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, nephrology, and neuroscience. The company's products include Evenity to treat osteoporosis in postmenopausal women; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Repatha to treat coronary diseases; Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Parsabiv to treat secondary hyperparathyroidism (sHPT); and Aimovig for the prevention of migraine.

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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