Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Amgen, Inc. (NASDAQ:AMGN) by 85.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 250,700 shares of the medical research company’s stock after acquiring an additional 115,350 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Amgen were worth $51,968,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the business. Kwmg LLC acquired a new position in shares of Amgen during the second quarter valued at about $108,000. Mainstay Capital Management LLC ADV acquired a new position in shares of Amgen during the second quarter valued at about $111,000. Polaris Greystone Financial Group LLC acquired a new position in shares of Amgen during the third quarter valued at about $166,000. Family Firm Inc. acquired a new position in shares of Amgen during the second quarter valued at about $202,000. Finally, Wellington Shields Capital Management LLC acquired a new position in shares of Amgen during the third quarter valued at about $202,000. 76.94% of the stock is owned by hedge funds and other institutional investors.
NASDAQ AMGN opened at $197.76 on Thursday. The stock has a market capitalization of $126.02 billion, a P/E ratio of 14.25, a price-to-earnings-growth ratio of 2.05 and a beta of 1.41. Amgen, Inc. has a twelve month low of $163.31 and a twelve month high of $210.19. The company has a current ratio of 3.08, a quick ratio of 2.84 and a debt-to-equity ratio of 2.05.
Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, October 30th. The medical research company reported $3.69 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.45 by $0.24. The firm had revenue of $5.90 billion for the quarter, compared to analysts’ expectations of $5.78 billion. Amgen had a net margin of 9.44% and a return on equity of 54.14%. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.27 earnings per share. As a group, research analysts anticipate that Amgen, Inc. will post 14.24 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 7th. Shareholders of record on Friday, November 16th will be paid a dividend of $1.32 per share. The ex-dividend date of this dividend is Thursday, November 15th. This represents a $5.28 annualized dividend and a yield of 2.67%. Amgen’s dividend payout ratio is 41.97%.
A number of research analysts have recently commented on the stock. Cann reaffirmed a “buy” rating and set a $224.00 price objective on shares of Amgen in a research report on Monday, October 1st. Jefferies Financial Group reissued a “buy” rating and issued a $220.00 target price on shares of Amgen in a research note on Monday, October 1st. Oppenheimer reissued a “buy” rating and issued a $224.00 target price on shares of Amgen in a research note on Tuesday, October 2nd. Royal Bank of Canada set a $193.00 target price on shares of Amgen and gave the company a “neutral” rating in a research note on Friday, September 28th. Finally, Zacks Investment Research raised shares of Amgen from a “hold” rating to a “buy” rating and set a $234.00 target price on the stock in a research note on Monday, October 1st. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Amgen presently has a consensus rating of “Hold” and a consensus price target of $205.68.
In other Amgen news, SVP Cynthia M. Patton sold 1,777 shares of the company’s stock in a transaction dated Thursday, November 29th. The shares were sold at an average price of $202.88, for a total transaction of $360,517.76. Following the sale, the senior vice president now directly owns 23,090 shares of the company’s stock, valued at $4,684,499.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.19% of the stock is currently owned by corporate insiders.
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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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