State Treasurer State of Michigan trimmed its position in shares of Amgen (NASDAQ:AMGN) by 7.5% during the 1st quarter, Holdings Channel reports. The firm owned 196,794 shares of the medical research company’s stock after selling 16,000 shares during the quarter. State Treasurer State of Michigan’s holdings in Amgen were worth $33,549,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of AMGN. Lederer & Associates Investment Counsel CA grew its stake in Amgen by 2.1% in the 4th quarter. Lederer & Associates Investment Counsel CA now owns 13,306 shares of the medical research company’s stock worth $2,314,000 after acquiring an additional 277 shares in the last quarter. Capital City Trust Co. FL grew its stake in Amgen by 5.8% in the 4th quarter. Capital City Trust Co. FL now owns 5,075 shares of the medical research company’s stock worth $946,000 after acquiring an additional 280 shares in the last quarter. Community Bank & Trust Waco Texas grew its stake in Amgen by 7.7% in the 4th quarter. Community Bank & Trust Waco Texas now owns 3,930 shares of the medical research company’s stock worth $683,000 after acquiring an additional 281 shares in the last quarter. First Citizens Bank & Trust Co. grew its stake in Amgen by 1.1% in the 4th quarter. First Citizens Bank & Trust Co. now owns 25,545 shares of the medical research company’s stock worth $4,442,000 after acquiring an additional 284 shares in the last quarter. Finally, Timber Creek Capital Management LLC grew its stake in Amgen by 1.6% in the 4th quarter. Timber Creek Capital Management LLC now owns 18,672 shares of the medical research company’s stock worth $3,247,000 after acquiring an additional 285 shares in the last quarter. Institutional investors own 78.43% of the company’s stock.
AMGN has been the topic of a number of research analyst reports. Argus upgraded shares of Amgen from a “hold” rating to a “buy” rating and upped their target price for the stock from $192.33 to $220.00 in a research note on Tuesday, January 23rd. JPMorgan Chase restated a “hold” rating and issued a $191.00 target price on shares of Amgen in a research note on Sunday, February 4th. Zacks Investment Research raised shares of Amgen from a “hold” rating to a “buy” rating and set a $194.00 price target for the company in a research report on Thursday, April 5th. TheStreet cut shares of Amgen from a “b-” rating to a “c+” rating in a research report on Wednesday, April 11th. Finally, Mizuho upped their price target on shares of Amgen from $192.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, February 12th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and ten have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $191.70.
In related news, EVP Sean E. Harper sold 1,525 shares of the stock in a transaction that occurred on Monday, May 14th. The shares were sold at an average price of $174.10, for a total transaction of $265,502.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 4,575 shares of company stock valued at $818,208 in the last three months. 0.27% of the stock is currently owned by corporate insiders.
NASDAQ:AMGN opened at $176.47 on Tuesday. Amgen has a 52 week low of $152.16 and a 52 week high of $201.23. The company has a debt-to-equity ratio of 2.14, a current ratio of 3.88 and a quick ratio of 3.60. The company has a market cap of $116.66 billion, a P/E ratio of 14.03, a PEG ratio of 2.18 and a beta of 1.36.
Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, April 24th. The medical research company reported $3.47 EPS for the quarter, beating the Zacks’ consensus estimate of $3.24 by $0.23. Amgen had a net margin of 9.67% and a return on equity of 35.80%. The company had revenue of $5.55 billion during the quarter, compared to analysts’ expectations of $5.44 billion. During the same quarter in the prior year, the company posted $3.15 earnings per share. Amgen’s revenue for the quarter was up 1.6% compared to the same quarter last year. equities analysts anticipate that Amgen will post 13.71 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 8th. Investors of record on Thursday, May 17th will be given 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 2.99%. Amgen’s payout ratio is 41.97%.
Amgen declared that its board has initiated a share buyback program on Thursday, February 1st that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the medical research company to buy shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
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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