Tredje AP fonden lowered its position in Amgen (NASDAQ:AMGN) by 1.1% during the first quarter, Holdings Channel reports. The fund owned 115,694 shares of the medical research company’s stock after selling 1,238 shares during the quarter. Amgen accounts for 0.7% of Tredje AP fonden’s holdings, making the stock its 28th largest holding. Tredje AP fonden’s holdings in Amgen were worth $19,724,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently modified their holdings of the stock. Barrow Hanley Mewhinney & Strauss LLC raised its position in Amgen by 110.7% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 647 shares of the medical research company’s stock valued at $113,000 after purchasing an additional 340 shares during the period. Taylor Hoffman Wealth Management purchased a new position in Amgen in the fourth quarter valued at about $127,000. Welch Group LLC purchased a new position in Amgen in the fourth quarter valued at about $148,000. Watermark Asset Management Inc. raised its position in Amgen by 8,481.8% in the fourth quarter. Watermark Asset Management Inc. now owns 944 shares of the medical research company’s stock valued at $164,000 after purchasing an additional 933 shares during the period. Finally, Trustcore Financial Services LLC purchased a new position in Amgen in the fourth quarter valued at about $183,000. Hedge funds and other institutional investors own 78.43% of the company’s stock.
Shares of Amgen opened at $178.24 on Friday, Marketbeat reports. 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 stock has a market capitalization of $117.94 billion, a P/E ratio of 14.17, a PEG ratio of 2.22 and a beta of 1.36. Amgen has a fifty-two week low of $153.56 and a fifty-two week high of $201.23.
Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, April 24th. The medical research company reported $3.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.24 by $0.23. The firm had revenue of $5.55 billion during the quarter, compared to analyst estimates of $5.44 billion. Amgen had a return on equity of 35.80% and a net margin of 9.67%. Amgen’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the company earned $3.15 earnings per share. equities research analysts anticipate that Amgen will post 13.63 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 8th. Investors of record on Thursday, May 17th will be issued a $1.32 dividend. This represents a $5.28 annualized dividend and a yield of 2.96%. The ex-dividend date of this dividend is Wednesday, May 16th. Amgen’s dividend payout ratio is currently 41.97%.
Amgen announced that its Board of Directors has authorized a stock buyback plan on Thursday, February 1st that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the medical research company to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
Several research firms 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 report on Monday, February 12th. Leerink Swann reaffirmed a “market perform” rating on shares of Amgen in a research report on Friday, February 2nd. Morgan Stanley dropped their target price 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 lowered Amgen from a “b-” rating to a “c+” rating in a research report on Wednesday, April 11th. Finally, BMO Capital Markets lifted their target price on Amgen from $192.00 to $202.00 and gave the stock a “market perform” rating in a research report on Friday, February 2nd. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and ten have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $191.70.
In related news, EVP Sean E. Harper sold 1,525 shares of the business’s stock in a transaction dated Thursday, April 12th. The stock was sold at an average price of $172.68, for a total value of $263,337.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders sold 4,575 shares of company stock valued at $818,208. 0.19% of the stock is owned by corporate insiders.
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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