Jacobs & Co. CA lessened its holdings in Amgen (NASDAQ:AMGN) by 1.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,577 shares of the medical research company’s stock after selling 662 shares during the period. Jacobs & Co. CA’s holdings in Amgen were worth $6,840,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Pzena Investment Management LLC increased its stake in shares of Amgen by 34.5% in the fourth quarter. Pzena Investment Management LLC now owns 1,688 shares of the medical research company’s stock worth $294,000 after purchasing an additional 433 shares during the period. First Republic Investment Management Inc. grew its position in Amgen by 15.3% during the fourth quarter. First Republic Investment Management Inc. now owns 681,420 shares of the medical research company’s stock worth $118,499,000 after buying an additional 90,412 shares in the last quarter. Stordahl Capital Management Inc. acquired a new stake in Amgen during the fourth quarter worth about $273,000. Mission Wealth Management LP grew its position in Amgen by 6.1% during the fourth quarter. Mission Wealth Management LP now owns 8,363 shares of the medical research company’s stock worth $1,454,000 after buying an additional 479 shares in the last quarter. Finally, Alexandria Capital LLC grew its position in Amgen by 1,170.1% during the fourth quarter. Alexandria Capital LLC now owns 5,525 shares of the medical research company’s stock worth $961,000 after buying an additional 5,090 shares in the last quarter. Institutional investors and hedge funds own 79.55% of the company’s stock.
In other news, EVP Sean E. Harper sold 1,525 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $174.18, for a total transaction of $265,624.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders have sold 4,575 shares of company stock valued at $838,064. Company insiders own 0.19% of the company’s stock.
Amgen (NASDAQ:AMGN) last announced its earnings results on Thursday, February 1st. The medical research company reported $2.89 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.03 by ($0.14). Amgen had a return on equity of 30.87% and a net margin of 8.66%. The company had revenue of $5.80 billion during the quarter, compared to analyst estimates of $5.84 billion. During the same period in the previous year, the company posted $2.89 earnings per share. Amgen’s revenue for the quarter was down 2.7% on a year-over-year basis. sell-side analysts expect that Amgen will post 13.24 earnings per share for the current year.
Amgen declared that its board has approved a share buyback program on Thursday, February 1st that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the medical research company to repurchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 8th. Stockholders of record on Thursday, May 17th will be paid a dividend of $1.32 per share. The ex-dividend date of this dividend is Wednesday, May 16th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 3.08%. Amgen’s dividend payout ratio is 41.97%.
A number of equities research analysts recently weighed in on the company. Leerink Swann reissued a “market perform” rating on shares of Amgen in a research report on Friday, February 2nd. Atlantic Securities downgraded Amgen from an “overweight” rating to a “neutral” rating and set a $187.01 price objective on the stock. in a report on Monday, February 5th. BidaskClub raised Amgen from a “sell” rating to a “hold” rating in a report on Thursday, January 18th. Oppenheimer set a $205.00 price objective on Amgen and gave the company a “buy” rating in a report on Friday, January 5th. Finally, Credit Suisse Group lifted their target price on shares of Amgen from $191.00 to $194.00 and gave the company a “neutral” rating in a research note on Friday, February 2nd. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eleven have issued a buy rating to the company. Amgen currently has a consensus rating of “Hold” and an average target price of $190.57.
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Amgen Company Profile
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, nephrology, and neuroscience. The company's products include Evenity to treat osteoporosis in postmenopausal women; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Repatha to treat coronary diseases; Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Parsabiv to treat secondary hyperparathyroidism (sHPT); and Aimovig for the prevention of migraine.
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