Everence Capital Management Inc. grew its position in Amgen, Inc. (NASDAQ:AMGN) by 2.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,379 shares of the medical research company’s stock after acquiring an additional 496 shares during the quarter. Everence Capital Management Inc.’s holdings in Amgen were worth $3,022,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Jackson Grant Investment Advisers Inc. increased its stake in Amgen by 0.8% in the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 641 shares of the medical research company’s stock worth $110,000 after buying an additional 5 shares during the period. South Texas Money Management Ltd. increased its stake in Amgen by 0.7% in the 2nd quarter. South Texas Money Management Ltd. now owns 3,223 shares of the medical research company’s stock worth $555,000 after buying an additional 22 shares during the period. Glenview Trust Co increased its stake in Amgen by 0.4% in the 2nd quarter. Glenview Trust Co now owns 6,137 shares of the medical research company’s stock worth $1,057,000 after buying an additional 25 shares during the period. Roberts Glore & Co. Inc. IL increased its stake in Amgen by 0.4% in the 2nd quarter. Roberts Glore & Co. Inc. IL now owns 7,425 shares of the medical research company’s stock worth $1,279,000 after buying an additional 27 shares during the period. Finally, WMS Partners LLC increased its stake in Amgen by 0.5% in the 2nd quarter. WMS Partners LLC now owns 6,319 shares of the medical research company’s stock worth $1,088,000 after buying an additional 33 shares during the period. 79.61% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have commented on AMGN. BidaskClub raised shares of Amgen from a “strong sell” rating to a “sell” rating in a research report on Saturday, December 2nd. Morgan Stanley cut their target price on shares of Amgen from $204.00 to $196.00 and set an “overweight” rating on the stock in a research report on Friday, February 2nd. Vetr raised shares of Amgen from a “sell” rating to a “hold” rating and set a $181.60 target price on the stock in a research report on Tuesday, February 27th. Oppenheimer reissued a “buy” rating and set a $205.00 target price on shares of Amgen in a research report on Tuesday, January 30th. Finally, Piper Jaffray Companies reissued a “buy” rating on shares of Amgen in a research report on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and eleven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $191.72.
Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Thursday, February 1st. The medical research company reported $2.89 earnings per share for the quarter, missing analysts’ consensus estimates 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 quarter in the prior year, the business posted $2.89 earnings per share. The firm’s quarterly revenue was down 2.7% on a year-over-year basis. sell-side analysts predict that Amgen, Inc. will post 13.24 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 8th. Stockholders of record on Thursday, May 17th will be issued a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend is Wednesday, May 16th. Amgen’s dividend payout ratio is currently 205.45%.
Amgen announced that its board has approved a share repurchase program on Thursday, February 1st that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the medical research company to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
In related news, EVP Sean E. Harper sold 1,525 shares of Amgen stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $174.18, for a total value of $265,624.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.19% of the stock is currently owned by company insiders.
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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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