RB Capital Management LLC increased its position in shares of Amgen, Inc. (NASDAQ:AMGN) by 4.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,034 shares of the medical research company’s stock after buying an additional 350 shares during the period. Amgen accounts for approximately 1.1% of RB Capital Management LLC’s investment portfolio, making the stock its 22nd biggest position. RB Capital Management LLC’s holdings in Amgen were worth $1,480,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of AMGN. Geode Capital Management LLC boosted its position in Amgen by 5.8% during the fourth quarter. Geode Capital Management LLC now owns 8,850,224 shares of the medical research company’s stock worth $1,720,250,000 after purchasing an additional 482,760 shares during the period. Norges Bank bought a new position in Amgen during the fourth quarter worth $1,283,248,000. Nordea Investment Management AB boosted its position in Amgen by 5.0% during the first quarter. Nordea Investment Management AB now owns 4,709,467 shares of the medical research company’s stock worth $894,700,000 after purchasing an additional 225,485 shares during the period. Thoroughbred Financial Services LLC boosted its position in Amgen by 19,447.3% during the second quarter. Thoroughbred Financial Services LLC now owns 1,805,392 shares of the medical research company’s stock worth $180,539,000 after purchasing an additional 1,796,156 shares during the period. Finally, Pzena Investment Management LLC boosted its position in Amgen by 28.6% during the second quarter. Pzena Investment Management LLC now owns 1,221,320 shares of the medical research company’s stock worth $225,065,000 after purchasing an additional 271,301 shares during the period. Institutional investors and hedge funds own 78.01% of the company’s stock.
In related news, Director R Sanders Williams sold 425 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $183.04, for a total transaction of $77,792.00. Following the completion of the sale, the director now owns 16,336 shares of the company’s stock, valued at $2,990,141.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ronald D. Sugar sold 2,000 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $187.58, for a total transaction of $375,160.00. Following the sale, the director now directly owns 16,336 shares of the company’s stock, valued at approximately $3,064,306.88. The disclosure for this sale can be found here. Insiders have sold 4,425 shares of company stock valued at $804,312 in the last ninety days. 0.25% of the stock is currently owned by company insiders.
Shares of Amgen stock traded down $4.34 during trading on Friday, reaching $199.08. The company’s stock had a trading volume of 2,734,319 shares, compared to its average volume of 3,954,342. The business’s 50-day moving average price is $186.41 and its 200-day moving average price is $183.47. The firm has a market cap of $121.99 billion, a PE ratio of 13.83, a P/E/G ratio of 2.45 and a beta of 1.19. Amgen, Inc. has a 52 week low of $166.30 and a 52 week high of $211.90. The company has a quick ratio of 2.60, a current ratio of 2.89 and a debt-to-equity ratio of 2.58.
Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, July 30th. The medical research company reported $3.97 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.58 by $0.39. The company had revenue of $5.87 billion during the quarter, compared to analysts’ expectations of $5.67 billion. Amgen had a net margin of 33.78% and a return on equity of 76.17%. Amgen’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.83 earnings per share. Equities analysts predict that Amgen, Inc. will post 14.26 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Thursday, August 15th will be given a $1.45 dividend. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.91%. Amgen’s payout ratio is presently 40.28%.
AMGN has been the subject of a number of research analyst reports. Evercore ISI reaffirmed a “hold” rating on shares of Amgen in a research report on Sunday, August 11th. Wells Fargo & Co lifted their price objective on shares of Amgen from $197.00 to $202.00 and gave the stock a “market perform” rating in a research report on Monday, August 12th. Mizuho cut shares of Amgen from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $208.00 to $212.00 in a research report on Monday, August 19th. They noted that the move was a valuation call. Morgan Stanley reduced their price objective on shares of Amgen from $211.00 to $207.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Finally, Oppenheimer lifted their price objective on shares of Amgen from $210.00 to $230.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 13th. Ten research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $212.94.
Amgen Company Profile
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, and neuroscience. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Aranesp to treat anemia; Xgeva for skeletal-related events prevention; Sensipar/Mimpara products to treat sHPT in chronic kidney disease; and EPOGEN to treat a lower-than-normal number of red blood cells.
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