Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its holdings in Amgen Inc. (NASDAQ:AMGN) by 31.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 86,228 shares of the medical research company’s stock after acquiring an additional 20,408 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Amgen were worth $15,048,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. TrimTabs Asset Management LLC grew its stake in Amgen by 88.9% during the first quarter. TrimTabs Asset Management LLC now owns 612 shares of the medical research company’s stock worth $100,000 after buying an additional 288 shares during the last quarter. Jackson Grant Investment Advisers Inc. grew its stake in Amgen by 0.6% during the first quarter. Jackson Grant Investment Advisers Inc. now owns 636 shares of the medical research company’s stock worth $104,000 after buying an additional 4 shares during the last quarter. American Beacon Advisors Inc. bought a new stake in Amgen during the first quarter worth about $106,000. Nelson Roberts Investment Advisors LLC bought a new stake in Amgen during the first quarter worth about $121,000. Finally, Grove Bank & Trust grew its stake in Amgen by 87.4% during the second quarter. Grove Bank & Trust now owns 731 shares of the medical research company’s stock worth $126,000 after buying an additional 341 shares during the last quarter. 78.54% of the stock is currently owned by institutional investors and hedge funds.
Shares of Amgen Inc. (NASDAQ AMGN) opened at $172.35 on Friday. The company has a quick ratio of 5.72, a current ratio of 6.07 and a debt-to-equity ratio of 1.05. The firm has a market cap of $126,308.45, a price-to-earnings ratio of 13.83, a price-to-earnings-growth ratio of 2.52 and a beta of 1.37. Amgen Inc. has a twelve month low of $138.83 and a twelve month high of $191.10.
Amgen (NASDAQ:AMGN) last posted its earnings results on Wednesday, October 25th. The medical research company reported $3.27 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.11 by $0.16. The company had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.75 billion. Amgen had a net margin of 35.54% and a return on equity of 29.90%. The business’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period last year, the business posted $3.02 earnings per share. sell-side analysts anticipate that Amgen Inc. will post 12.66 EPS for the current year.
Amgen announced that its Board of Directors has initiated a stock buyback program on Wednesday, October 25th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the medical research company to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 17th will be issued a $1.15 dividend. The ex-dividend date is Thursday, November 16th. This represents a $4.60 annualized dividend and a yield of 2.67%. Amgen’s dividend payout ratio (DPR) is presently 41.63%.
In other news, EVP Sean E. Harper sold 1,525 shares of the stock in a transaction on Monday, October 9th. The shares were sold at an average price of $185.95, for a total transaction of $283,573.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Carbonnel Francois De sold 4,000 shares of the stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $173.61, for a total transaction of $694,440.00. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.
Several brokerages have weighed in on AMGN. Royal Bank Of Canada began coverage on shares of Amgen in a research note on Thursday, September 14th. They set a “sector perform” rating and a $192.00 price objective on the stock. Bank of America Corporation upped their price objective on shares of Amgen to $210.00 and gave the stock a “buy” rating in a research note on Thursday, October 5th. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and set a $203.00 price objective on shares of Amgen in a research note on Friday, October 6th. Morgan Stanley reaffirmed an “overweight” rating and set a $196.00 price objective (up from $189.00) on shares of Amgen in a research note on Friday, October 6th. Finally, Mizuho reaffirmed a “buy” rating and set a $198.00 price objective on shares of Amgen in a research note on Friday, October 6th. Thirteen equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $190.03.
Amgen Company Profile
Amgen Inc is a biotechnology company. The Company discovers, develops, manufactures and delivers various human therapeutics. It operates in human therapeutics segment. Its marketed products portfolio includes Neulasta (pegfilgrastim); erythropoiesis-stimulating agents (ESAs), such as Aranesp (darbepoetin alfa) and EPOGEN (epoetin alfa); Sensipar/Mimpara (cinacalcet); XGEVA (denosumab); Prolia (denosumab); NEUPOGEN (filgrastim), and other marketed products, such as KYPROLIS (carfilzomib), Vectibix (panitumumab), Nplate (romiplostim), Repatha (evolocumab), BLINCYTO (blinatumomab), IMLYGIC (talimogene laherparepvec) and Corlanor (ivabradine).
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