Baker Avenue Asset Management LP increased its holdings in shares of Amgen (NASDAQ:AMGN) by 6.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 36,300 shares of the medical research company’s stock after acquiring an additional 2,204 shares during the period. Baker Avenue Asset Management LP’s holdings in Amgen were worth $6,312,000 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 AMGN. South Texas Money Management Ltd. grew its stake in Amgen by 0.7% in the second quarter. South Texas Money Management Ltd. now owns 3,223 shares of the medical research company’s stock valued at $555,000 after acquiring an additional 22 shares during the period. Glenview Trust Co grew its stake in Amgen by 0.4% in the second quarter. Glenview Trust Co now owns 6,137 shares of the medical research company’s stock valued at $1,057,000 after acquiring an additional 25 shares during the period. Roberts Glore & Co. Inc. IL grew its stake in Amgen by 0.4% in the second quarter. Roberts Glore & Co. Inc. IL now owns 7,425 shares of the medical research company’s stock valued at $1,279,000 after acquiring an additional 27 shares during the period. Salem Investment Counselors Inc. grew its stake in Amgen by 4.7% in the second 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. Finally, Keel Point LLC grew its stake in Amgen by 1.2% in the second quarter. Keel Point LLC now owns 3,509 shares of the medical research company’s stock valued at $604,000 after acquiring an additional 43 shares during the period. 79.54% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have commented on AMGN. Mizuho raised their price objective on Amgen from $192.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, February 12th. Leerink Swann reissued a “market perform” rating on shares of Amgen in a research note on Friday, February 2nd. Morgan Stanley reduced their price objective on Amgen from $204.00 to $196.00 and set an “overweight” rating for the company in a research note on Friday, February 2nd. TheStreet cut Amgen from a “b-” rating to a “c+” rating in a research note on Wednesday, April 11th. Finally, BMO Capital Markets raised their price objective on Amgen from $192.00 to $202.00 and gave the company a “market perform” rating in a research note on Friday, February 2nd. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and ten have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $190.57.
In related news, EVP Sean E. Harper sold 1,525 shares of Amgen stock in a transaction on Friday, March 16th. The stock was sold at an average price of $189.75, for a total transaction of $289,368.75. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold 4,575 shares of company stock worth $818,330 over the last quarter. 0.19% of the stock is currently owned by corporate insiders.
Shares of NASDAQ:AMGN opened at $171.56 on Friday. The company has a market cap of $117,020.85, a P/E ratio of 13.64, a P/E/G ratio of 2.14 and a beta of 1.36. The company has a debt-to-equity ratio of 1.35, a quick ratio of 5.17 and a current ratio of 5.49. Amgen has a 12-month low of $152.16 and a 12-month high of $201.23.
Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Thursday, February 1st. The medical research company reported $2.89 EPS for the quarter, missing the Zacks’ consensus estimate of $3.03 by ($0.14). The business had revenue of $5.80 billion for the quarter, compared to the consensus estimate of $5.84 billion. Amgen had a return on equity of 30.87% and a net margin of 8.66%. The business’s revenue was down 2.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.89 earnings per share. research analysts predict that Amgen will post 13.28 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 8th. Investors of record on Thursday, May 17th will be issued a dividend of $1.32 per share. The ex-dividend date is Wednesday, May 16th. This represents a $5.28 dividend on an annualized basis and a yield of 3.08%. Amgen’s dividend payout ratio (DPR) is currently 41.97%.
Amgen announced that its Board of Directors has approved a share buyback 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 repurchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.
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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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