PGGM Investments Trims Position in Amgen, Inc. (NASDAQ:AMGN)

PGGM Investments lessened its stake in shares of Amgen, Inc. (NASDAQ:AMGN) by 43.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 506,257 shares of the medical research company’s stock after selling 389,877 shares during the period. PGGM Investments owned 0.09% of Amgen worth $122,043,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Strategic Family Wealth Counselors L.L.C. purchased a new stake in Amgen in the 4th quarter valued at about $214,000. Comprehensive Portfolio Management LLC raised its holdings in Amgen by 2.3% in the 4th quarter. Comprehensive Portfolio Management LLC now owns 3,784 shares of the medical research company’s stock valued at $912,000 after buying an additional 86 shares during the period. Arlington Partners LLC raised its holdings in Amgen by 25.6% in the 4th quarter. Arlington Partners LLC now owns 490 shares of the medical research company’s stock valued at $118,000 after buying an additional 100 shares during the period. Stordahl Capital Management Inc. purchased a new stake in Amgen in the 4th quarter valued at about $203,000. Finally, Allworth Financial LP raised its holdings in Amgen by 15.5% in the 4th quarter. Allworth Financial LP now owns 2,271 shares of the medical research company’s stock valued at $547,000 after buying an additional 304 shares during the period. Institutional investors and hedge funds own 76.58% of the company’s stock.

Shares of Amgen stock traded down $0.09 on Friday, reaching $240.41. 40,672 shares of the company were exchanged, compared to its average volume of 1,906,640. Amgen, Inc. has a 1-year low of $166.30 and a 1-year high of $244.99. The company has a market cap of $142.60 billion, a P/E ratio of 16.70, a price-to-earnings-growth ratio of 2.08 and a beta of 1.11. The company has a debt-to-equity ratio of 2.54, a current ratio of 2.89 and a quick ratio of 2.59. The stock’s 50 day moving average price is $238.44 and its 200-day moving average price is $209.08.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, October 29th. The medical research company reported $3.66 earnings per share for the quarter, topping the consensus estimate of $3.53 by $0.13. The firm had revenue of $5.74 billion during the quarter, compared to analysts’ expectations of $5.63 billion. Amgen had a return on equity of 80.26% and a net margin of 34.48%. The firm’s revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.69 earnings per share. On average, research analysts predict that Amgen, Inc. will post 14.58 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 14th will be paid a dividend of $1.60 per share. This is a boost from Amgen’s previous quarterly dividend of $1.45. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $6.40 annualized dividend and a yield of 2.66%. Amgen’s payout ratio is presently 40.28%.

In other Amgen news, EVP Jonathan P. Graham sold 9,000 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $230.54, for a total value of $2,074,860.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO David W. Meline sold 8,737 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $234.36, for a total value of $2,047,603.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,162 shares of company stock valued at $4,214,030. 0.25% of the stock is owned by company insiders.

Several research firms have weighed in on AMGN. BidaskClub downgraded Amgen from a “buy” rating to a “hold” rating in a research report on Tuesday, December 31st. Goldman Sachs Group set a $243.00 target price on Amgen and gave the company a “buy” rating in a research report on Monday, September 30th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $255.00 target price on shares of Amgen in a research report on Tuesday. Morgan Stanley dropped their target price on Amgen from $280.00 to $277.00 and set an “overweight” rating for the company in a research report on Friday. Finally, JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of Amgen in a research report on Monday, September 30th. Eleven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $235.22.

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, 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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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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