Bailard Inc. Acquires 350 Shares of Amgen (AMGN)

Bailard Inc. boosted its holdings in Amgen (NASDAQ:AMGN) by 7.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,015 shares of the medical research company’s stock after buying an additional 350 shares during the period. Bailard Inc.’s holdings in Amgen were worth $855,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Psagot Investment House Ltd. purchased a new position in shares of Amgen during the 1st quarter valued at $6,682,000. KCS Wealth Advisory purchased a new position in shares of Amgen during the 1st quarter valued at $257,000. Sandy Spring Bank grew its position in shares of Amgen by 8.5% during the 1st quarter. Sandy Spring Bank now owns 15,177 shares of the medical research company’s stock valued at $2,587,000 after purchasing an additional 1,195 shares in the last quarter. LSV Asset Management grew its position in shares of Amgen by 5.6% during the 1st quarter. LSV Asset Management now owns 4,028,784 shares of the medical research company’s stock valued at $686,827,000 after purchasing an additional 214,013 shares in the last quarter. Finally, Ffcm LLC purchased a new position in shares of Amgen during the 1st quarter valued at $614,000. Institutional investors and hedge funds own 86.24% of the company’s stock.

In other news, EVP Sean E. Harper sold 1,525 shares of the company’s stock in a transaction dated Thursday, April 12th. The shares were sold at an average price of $172.68, for a total transaction of $263,337.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders have sold 4,575 shares of company stock valued at $818,208. Insiders own 0.19% of the company’s stock.

Amgen opened at $174.65 on Friday, Marketbeat Ratings reports. The company has a quick ratio of 3.60, a current ratio of 3.88 and a debt-to-equity ratio of 2.14. The firm has a market capitalization of $114.04 billion, a price-to-earnings ratio of 13.88, a price-to-earnings-growth ratio of 2.09 and a beta of 1.36. Amgen has a twelve month low of $170.68 and a twelve month high of $173.18.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, April 24th. The medical research company reported $3.47 earnings per share for the quarter, topping the consensus estimate of $3.24 by $0.23. The business had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $5.44 billion. Amgen had a net margin of 9.67% and a return on equity of 35.80%. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period in the previous year, the firm posted $3.15 earnings per share. equities analysts anticipate that Amgen will post 13.71 EPS for the current fiscal year.

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

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 8th. Stockholders of record on Thursday, May 17th will be paid a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a dividend yield of 3.02%. The ex-dividend date of this dividend is Wednesday, May 16th. Amgen’s dividend payout ratio (DPR) is 41.97%.

A number of research analysts have recently commented on the stock. Argus upgraded shares of 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 research report on Tuesday, January 23rd. JPMorgan Chase boosted their price target on shares of Amgen from $184.00 to $189.00 and gave the company a “neutral” rating in a research report on Wednesday, January 24th. Royal Bank of Canada reiterated a “hold” rating and issued a $189.00 target price on shares of Amgen in a research report on Wednesday, January 24th. Vetr lowered shares of Amgen from a “hold” rating to a “sell” rating and set a $181.60 target price for the company. in a research report on Tuesday, March 6th. Finally, BMO Capital Markets upped their target price on shares of Amgen from $192.00 to $202.00 and gave the stock a “market perform” rating in a research report on Friday, February 2nd. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and ten have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $191.70.

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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