Country Club Trust Company n.a. lowered its position in Amgen, Inc. (NASDAQ:AMGN) by 2.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 106,605 shares of the medical research company’s stock after selling 2,851 shares during the quarter. Amgen makes up about 2.5% of Country Club Trust Company n.a.’s investment portfolio, making the stock its 5th largest holding. Country Club Trust Company n.a.’s holdings in Amgen were worth $18,539,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the business. Palisade Asset Management LLC raised its position in shares of Amgen by 8.2% in the second quarter. Palisade Asset Management LLC now owns 80,584 shares of the medical research company’s stock valued at $13,879,000 after purchasing an additional 6,096 shares during the period. Wetherby Asset Management Inc. raised its position in shares of Amgen by 6.4% in the second quarter. Wetherby Asset Management Inc. now owns 13,861 shares of the medical research company’s stock valued at $2,387,000 after purchasing an additional 835 shares during the period. Carnick & Kubik Group LLC raised its position in shares of Amgen by 0.8% in the second quarter. Carnick & Kubik Group LLC now owns 10,920 shares of the medical research company’s stock valued at $1,881,000 after purchasing an additional 82 shares during the period. Schwab Charles Investment Management Inc. raised its position in shares of Amgen by 2.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 2,962,595 shares of the medical research company’s stock valued at $510,248,000 after purchasing an additional 67,815 shares during the period. Finally, Walter & Keenan Financial Consulting Co. MI ADV raised its position in shares of Amgen by 21.2% in the second quarter. Walter & Keenan Financial Consulting Co. MI ADV now owns 8,000 shares of the medical research company’s stock valued at $1,378,000 after purchasing an additional 1,400 shares during the period. Hedge funds and other institutional investors own 78.95% of the company’s stock.
In other news, EVP Sean E. Harper sold 1,525 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $185.62, for a total value of $283,070.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last 90 days, insiders sold 4,575 shares of company stock worth $818,361. 0.19% of the stock is currently owned by corporate insiders.
Amgen (NASDAQ:AMGN) last released its earnings results on Thursday, February 1st. The medical research company reported $2.89 EPS for the quarter, missing the consensus estimate of $3.03 by ($0.14). Amgen had a net margin of 8.66% and a return on equity of 30.87%. The firm had revenue of $5.80 billion during the quarter, compared to the consensus estimate of $5.84 billion. During the same period in the prior year, the business earned $2.89 earnings per share. Amgen’s quarterly revenue was down 2.7% compared to the same quarter last year. equities research analysts predict that Amgen, Inc. will post 13.21 earnings per share for the current year.
Amgen announced that its board has authorized a share repurchase plan on Wednesday, October 25th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to repurchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 8th. Stockholders of record on Thursday, February 15th will be paid a $1.32 dividend. This is an increase from Amgen’s previous quarterly dividend of $1.15. This represents a $5.28 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date is Wednesday, February 14th. Amgen’s dividend payout ratio (DPR) is presently 205.45%.
AMGN has been the topic of several research analyst reports. Zacks Investment Research raised shares of Amgen from a “hold” rating to a “buy” rating and set a $199.00 price objective on the stock in a research report on Friday, October 27th. Citigroup lowered shares of Amgen to a “neutral” rating in a research report on Monday, December 18th. Royal Bank of Canada lowered their price target on shares of Amgen from $192.00 to $188.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 26th. Goldman Sachs Group lowered shares of Amgen from a “conviction-buy” rating to a “buy” rating in a research report on Friday, December 15th. Finally, Mizuho set a $198.00 price target on shares of Amgen and gave the stock a “buy” rating in a research report on Sunday, October 29th. Sixteen investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $191.84.
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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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