Sowell Financial Services LLC grew its position in shares of Amgen, Inc. (NASDAQ:AMGN) by 12.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 4,666 shares of the medical research company’s stock after acquiring an additional 534 shares during the quarter. Sowell Financial Services LLC’s holdings in Amgen were worth $818,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of AMGN. Baker Ellis Asset Management LLC bought a new position in shares of Amgen during the 3rd quarter valued at approximately $108,000. Jackson Grant Investment Advisers Inc. raised its holdings in Amgen by 0.8% during the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 641 shares of the medical research company’s stock valued at $110,000 after buying an additional 5 shares during the period. Phocas Financial Corp. purchased a new stake in Amgen during the 2nd quarter valued at $110,000. Omnia Family Wealth LLC raised its holdings in Amgen by 25.3% during the 2nd quarter. Omnia Family Wealth LLC now owns 729 shares of the medical research company’s stock valued at $125,000 after buying an additional 147 shares during the period. Finally, Grove Bank & Trust raised its holdings in Amgen by 87.4% during the 2nd quarter. Grove Bank & Trust now owns 731 shares of the medical research company’s stock valued at $126,000 after buying an additional 341 shares during the period. Hedge funds and other institutional investors own 78.48% of the company’s stock.
Several research firms recently weighed in on AMGN. Bank of America increased their price target on Amgen to $210.00 and gave the company a “buy” rating in a report on Thursday, October 5th. BidaskClub upgraded Amgen from a “sell” rating to a “hold” rating in a report on Thursday. Oppenheimer restated a “buy” rating and set a $203.00 price target on shares of Amgen in a report on Friday, October 6th. Mizuho restated a “buy” rating and set a $198.00 price target on shares of Amgen in a report on Friday, October 6th. Finally, Morgan Stanley restated an “overweight” rating and set a $196.00 price target (up previously from $189.00) on shares of Amgen in a report on Friday, October 6th. Fifteen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $190.15.
Amgen (NASDAQ:AMGN) last released its earnings results on Wednesday, October 25th. The medical research company reported $3.27 earnings per share 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 business had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.75 billion. During the same quarter last year, the firm posted $3.02 earnings per share. The business’s revenue was down .7% compared to the same quarter last year. sell-side analysts expect that Amgen, Inc. will post 12.69 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 8th. Shareholders of record on Thursday, February 15th will be paid a $1.32 dividend. This is a positive change from Amgen’s previous quarterly dividend of $1.15. The ex-dividend date is Wednesday, February 14th. This represents a $5.28 dividend on an annualized basis and a yield of 2.79%. Amgen’s dividend payout ratio (DPR) is presently 41.63%.
Amgen declared that its Board of Directors has approved a stock repurchase plan on Wednesday, October 25th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the medical research company to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.
In other news, Director Carbonnel Francois De sold 4,000 shares of the firm’s 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Sean E. Harper sold 1,525 shares of the firm’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $185.62, for a total value of $283,070.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,575 shares of company stock worth $1,508,836. Insiders own 0.19% of the company’s stock.
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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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