Logan Capital Management Inc. Has $9.94 Million Holdings in Amgen, Inc. (AMGN)

Logan Capital Management Inc. lifted its stake in shares of Amgen, Inc. (NASDAQ:AMGN) by 1.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 47,944 shares of the medical research company’s stock after purchasing an additional 459 shares during the period. Logan Capital Management Inc.’s holdings in Amgen were worth $9,938,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of AMGN. Pillar Pacific Capital Management LLC grew its stake in Amgen by 0.5% in the 2nd quarter. Pillar Pacific Capital Management LLC now owns 56,671 shares of the medical research company’s stock valued at $10,461,000 after buying an additional 254 shares in the last quarter. Murphy Capital Management Inc. boosted its holdings in Amgen by 2.3% in the 3rd quarter. Murphy Capital Management Inc. now owns 11,285 shares of the medical research company’s stock valued at $2,339,000 after purchasing an additional 254 shares during the period. Fairfield Bush & CO. boosted its holdings in Amgen by 0.8% in the 2nd quarter. Fairfield Bush & CO. now owns 33,934 shares of the medical research company’s stock valued at $6,264,000 after purchasing an additional 260 shares during the period. Advisors Capital Management LLC boosted its holdings in Amgen by 5.8% in the 2nd quarter. Advisors Capital Management LLC now owns 4,737 shares of the medical research company’s stock valued at $874,000 after purchasing an additional 261 shares during the period. Finally, Mutual Advisors LLC boosted its holdings in Amgen by 5.8% in the 2nd quarter. Mutual Advisors LLC now owns 4,814 shares of the medical research company’s stock valued at $889,000 after purchasing an additional 265 shares during the period. Institutional investors own 76.94% of the company’s stock.

In related news, SVP Cynthia M. Patton sold 1,777 shares of the business’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 transaction, the senior vice president now owns 23,090 shares in the company, valued at $4,684,499.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.19% of the stock is owned by insiders.

AMGN stock opened at $199.01 on Friday. Amgen, Inc. has a 12-month low of $163.31 and a 12-month high of $210.19. The stock has a market capitalization of $126.02 billion, a price-to-earnings ratio of 15.82, a PEG ratio of 2.05 and a beta of 1.41. The company has a debt-to-equity ratio of 2.05, a quick ratio of 2.84 and a current ratio of 3.08.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, October 30th. The medical research company reported $3.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.45 by $0.24. Amgen had a net margin of 9.44% and a return on equity of 54.14%. The firm had revenue of $5.90 billion for the quarter, compared to analysts’ expectations of $5.78 billion. During the same quarter in the previous year, the company earned $3.27 earnings per share. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, equities analysts predict that Amgen, Inc. will post 14.24 EPS for the current 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 given a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date of this dividend is Thursday, November 15th. Amgen’s payout ratio is 41.97%.

Several brokerages have commented on AMGN. Cann reissued a “buy” rating and issued a $224.00 price target on shares of Amgen in a report on Monday, October 1st. Jefferies Financial Group reissued a “buy” rating and issued a $220.00 price target on shares of Amgen in a report on Monday, October 1st. Oppenheimer reissued a “buy” rating and issued a $224.00 price target on shares of Amgen in a report on Tuesday, October 2nd. Royal Bank of Canada set a $193.00 price target on shares of Amgen and gave the company a “neutral” rating in a report 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 price target for the company in a report on Monday, October 1st. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $205.68.

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Amgen 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.

Further Reading: Why do companies issue stock splits?

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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