Eagle Ridge Investment Management acquired a new position in shares of Amgen, Inc. (NASDAQ:AMGN) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 3,363 shares of the medical research company’s stock, valued at approximately $627,000.
A number of other hedge funds have also recently bought and sold shares of AMGN. Janus Henderson Group PLC raised its position in shares of Amgen by 3,664.7% during the second quarter. Janus Henderson Group PLC now owns 3,699,351 shares of the medical research company’s stock worth $637,139,000 after acquiring an additional 3,601,087 shares during the last quarter. FMR LLC raised its position in shares of Amgen by 4.8% during the second quarter. FMR LLC now owns 56,999,572 shares of the medical research company’s stock worth $9,817,037,000 after acquiring an additional 2,587,041 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Amgen by 40.9% in the second quarter. Renaissance Technologies LLC now owns 3,400,145 shares of the medical research company’s stock worth $585,607,000 after purchasing an additional 986,700 shares in the last quarter. BlackRock Inc. increased its holdings in Amgen by 1.9% in the second quarter. BlackRock Inc. now owns 49,451,203 shares of the medical research company’s stock worth $8,516,980,000 after purchasing an additional 909,689 shares in the last quarter. Finally, Nordea Investment Management AB increased its holdings in Amgen by 12.9% in the second quarter. Nordea Investment Management AB now owns 7,040,599 shares of the medical research company’s stock worth $1,212,602,000 after purchasing an additional 806,119 shares in the last quarter. Hedge funds and other institutional investors own 78.46% of the company’s stock.
In related news, EVP Sean E. Harper sold 1,525 shares of the stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $171.58, for a total transaction of $261,659.50. Following the completion of the sale, the executive vice president now directly owns 57,631 shares in the company, valued at approximately $9,888,326.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Carbonnel Francois De sold 4,000 shares of the stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $173.61, for a total value of $694,440.00. The disclosure for this sale can be found here. Insiders sold a total of 7,050 shares of company stock valued at $1,225,765 over the last quarter. Company insiders own 0.19% of the company’s stock.
Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Wednesday, October 25th. The medical research company reported $3.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.11 by $0.16. Amgen had a return on equity of 29.90% and a net margin of 35.54%. The firm had revenue of $5.77 billion during the quarter, compared to analysts’ expectations of $5.75 billion. During the same period in the prior year, the business earned $3.02 EPS. The company’s revenue for the quarter was down .7% compared to the same quarter last year. research analysts anticipate that Amgen, Inc. will post 12.71 earnings per share for the current fiscal year.
Amgen announced that its board has authorized a stock repurchase program on Wednesday, October 25th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the medical research company to reacquire shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 8th. Stockholders of record on Thursday, February 15th will be issued a $1.32 dividend. This is a boost from Amgen’s previous quarterly dividend of $1.15. This represents a $5.28 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date of this dividend is Wednesday, February 14th. Amgen’s dividend payout ratio is presently 41.55%.
A number of equities research analysts have weighed in on the company. Mizuho set a $192.00 target price on Amgen and gave the stock a “buy” rating in a report on Friday, December 22nd. Zacks Investment Research downgraded Amgen from a “buy” rating to a “hold” rating in a report on Monday, October 30th. Royal Bank of Canada lowered their target price on Amgen from $192.00 to $188.00 and set a “sector perform” rating for the company in a report on Thursday, October 26th. Credit Suisse Group reiterated a “neutral” rating and issued a $186.00 target price (up from $177.00) on shares of Amgen in a report on Friday, September 29th. Finally, Oppenheimer reiterated a “buy” rating and issued a $205.00 target price on shares of Amgen in a report on Thursday, November 30th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and ten have issued a buy rating to the stock. Amgen currently has an average rating of “Hold” and a consensus target price of $190.15.
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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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