Tokio Marine Asset Management Co. Ltd. cut its holdings in Amgen, Inc. (NASDAQ:AMGN) by 28.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,073 shares of the medical research company’s stock after selling 1,612 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Amgen were worth $708,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Baker Ellis Asset Management LLC bought a new position in Amgen in the 3rd quarter valued at approximately $108,000. Jackson Grant Investment Advisers Inc. lifted its position 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 valued at $110,000 after acquiring an additional 5 shares in the last quarter. Phocas Financial Corp. bought a new position in Amgen in the 2nd quarter valued at approximately $110,000. Omnia Family Wealth LLC lifted its holdings in shares of 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, Salem Investment Counselors Inc. lifted its holdings in shares of Amgen by 4.7% during the 2nd quarter. Salem Investment Counselors Inc. now owns 809 shares of the medical research company’s stock valued at $139,000 after buying an additional 36 shares during the period. 79.50% of the stock is currently owned by institutional investors and hedge funds.
In other Amgen news, EVP Sean E. Harper sold 1,525 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $174.18, for a total value of $265,624.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 4,575 shares of company stock valued at $838,064 in the last quarter. 0.19% of the stock is currently owned by company insiders.
Amgen (NASDAQ:AMGN) last posted its quarterly earnings data 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). The company had revenue of $5.80 billion during the quarter, compared to analysts’ expectations of $5.84 billion. Amgen had a return on equity of 30.87% and a net margin of 8.66%. The company’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter last year, the company earned $2.89 earnings per share. research analysts anticipate that Amgen, Inc. will post 13.25 earnings per share for the current fiscal year.
Amgen announced that its Board of Directors has initiated a share buyback program on Thursday, February 1st that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the medical research company to buy shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 8th. Shareholders of record on Thursday, May 17th will be paid a $1.32 dividend. The ex-dividend date is Wednesday, May 16th. This represents a $5.28 dividend on an annualized basis and a yield of 2.90%. Amgen’s payout ratio is presently 205.45%.
Several equities analysts have recently weighed in on AMGN shares. Cann reissued a “buy” rating and set a $205.00 price target on shares of Amgen in a report on Thursday, November 30th. Oppenheimer reissued a “buy” rating and set a $205.00 price target on shares of Amgen in a report on Thursday, November 30th. BidaskClub raised Amgen from a “strong sell” rating to a “sell” rating in a report on Saturday, December 2nd. Goldman Sachs cut Amgen from a “conviction-buy” rating to a “buy” rating in a report on Friday, December 15th. Finally, Citigroup cut Amgen to a “neutral” rating in a report on Monday, December 18th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and eleven have issued a buy rating to the company. Amgen presently has an average rating of “Hold” and a consensus target price of $191.26.
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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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