Frontier Investment Mgmt Co. grew its stake in shares of Amgen (NASDAQ:AMGN) by 12.0% during the 1st quarter, HoldingsChannel reports. The fund owned 7,367 shares of the medical research company’s stock after buying an additional 790 shares during the period. Frontier Investment Mgmt Co.’s holdings in Amgen were worth $1,256,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors also recently bought and sold shares of the business. Geode Capital Management LLC raised its position in shares of Amgen by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 8,110,133 shares of the medical research company’s stock worth $1,407,552,000 after buying an additional 199,838 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Amgen by 16.9% in the fourth quarter. Renaissance Technologies LLC now owns 4,579,445 shares of the medical research company’s stock worth $796,365,000 after buying an additional 661,745 shares in the last quarter. LSV Asset Management raised its position in shares of Amgen by 5.6% in the first quarter. LSV Asset Management now owns 4,028,784 shares of the medical research company’s stock worth $686,827,000 after buying an additional 214,013 shares in the last quarter. Legal & General Group Plc raised its position in shares of Amgen by 1.6% in the third quarter. Legal & General Group Plc now owns 3,781,891 shares of the medical research company’s stock worth $705,099,000 after buying an additional 60,532 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in shares of Amgen by 3.9% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 3,304,340 shares of the medical research company’s stock worth $574,680,000 after buying an additional 123,250 shares in the last quarter. Hedge funds and other institutional investors own 86.24% of the company’s stock.
In other news, EVP Sean E. Harper sold 1,525 shares of the firm’s stock in a transaction dated Thursday, April 12th. The stock was sold at an average price of $172.68, for a total transaction of $263,337.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have sold 4,575 shares of company stock worth $818,208 over the last ninety days. Insiders own 0.19% of the company’s stock.
A number of equities research analysts recently issued reports on the company. Mizuho increased their price objective on Amgen from $192.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, February 12th. Leerink Swann reiterated a “market perform” rating on shares of Amgen in a research report on Friday, February 2nd. Morgan Stanley lowered their price objective on Amgen from $204.00 to $196.00 and set an “overweight” rating on the stock in a research report on Friday, February 2nd. TheStreet downgraded Amgen from a “b-” rating to a “c+” rating in a research report on Wednesday, April 11th. Finally, BMO Capital Markets increased their price objective on Amgen from $192.00 to $202.00 and gave the stock a “market perform” rating in a research report on Friday, February 2nd. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $191.70.
Shares of Amgen opened at $176.30 on Friday, Marketbeat Ratings reports. Amgen has a 12-month low of $152.16 and a 12-month high of $201.23. The stock has a market cap of $115.57 billion, a PE ratio of 14.01, a P/E/G ratio of 2.12 and a beta of 1.36. The company has a current ratio of 3.88, a quick ratio of 3.60 and a debt-to-equity ratio of 2.14.
Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, April 24th. The medical research company reported $3.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.24 by $0.23. Amgen had a return on equity of 35.80% and a net margin of 9.67%. The firm had revenue of $5.55 billion for the quarter, compared to analysts’ expectations of $5.44 billion. During the same period last year, the firm earned $3.15 earnings per share. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. analysts anticipate that Amgen will post 13.71 EPS for the current year.
Amgen declared that its Board of Directors has initiated a share buyback 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 repurchase shares of its stock through open market purchases. Shares buyback plans are usually a sign 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. Stockholders of record on Thursday, May 17th will be paid 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 2.99%. Amgen’s dividend payout ratio (DPR) is currently 41.97%.
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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