Forward Management LLC lifted its stake in shares of Amgen, Inc. (NASDAQ:AMGN) by 5.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,298 shares of the medical research company’s stock after acquiring an additional 292 shares during the period. Forward Management LLC’s holdings in Amgen were worth $987,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in the company. Shelton Capital Management grew its position in shares of Amgen by 82.7% during the first quarter. Shelton Capital Management now owns 108,997 shares of the medical research company’s stock worth $17,883,000 after buying an additional 49,354 shares in the last quarter. Welch Group LLC bought a new position in Amgen during the second quarter worth $639,000. DekaBank Deutsche Girozentrale lifted its stake in Amgen by 2.8% during the second quarter. DekaBank Deutsche Girozentrale now owns 883,579 shares of the medical research company’s stock worth $152,927,000 after purchasing an additional 24,219 shares during the last quarter. Pacer Advisors Inc. lifted its stake in Amgen by 10.3% during the second quarter. Pacer Advisors Inc. now owns 25,378 shares of the medical research company’s stock worth $4,371,000 after purchasing an additional 2,362 shares during the last quarter. Finally, Wesbanco Bank Inc. lifted its stake in Amgen by 6.5% during the second quarter. Wesbanco Bank Inc. now owns 106,792 shares of the medical research company’s stock worth $18,393,000 after purchasing an additional 6,492 shares during the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.
A number of research firms have issued reports on AMGN. Oppenheimer reiterated a “buy” rating and issued a $203.00 target price on shares of Amgen in a research note on Friday, October 6th. Mizuho reiterated a “buy” rating and issued a $198.00 target price on shares of Amgen in a research note on Friday, October 6th. Cann reiterated a “buy” rating and issued a $203.00 target price on shares of Amgen in a research note on Friday, October 6th. Bank of America raised their target price on Amgen to $210.00 and gave the company a “buy” rating in a research note on Thursday, October 5th. Finally, Jefferies Group reiterated a “buy” rating and issued a $200.00 target price on shares of Amgen in a research note on Monday, September 25th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and ten have assigned a buy rating to the stock. Amgen currently has a consensus rating of “Hold” and an average target price of $190.15.
Amgen, Inc. (AMGN) opened at $180.65 on Friday. The firm has a market capitalization of $131,135.81, a PE ratio of 16.35, a P/E/G ratio of 2.60 and a beta of 1.36. Amgen, Inc. has a 12 month low of $150.38 and a 12 month high of $191.10. The company has a debt-to-equity ratio of 1.05, a current ratio of 6.07 and a quick ratio of 5.72.
Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Wednesday, October 25th. The medical research company reported $3.27 EPS for the quarter, topping the Zacks’ consensus estimate of $3.11 by $0.16. Amgen had a return on equity of 29.90% and a net margin of 35.54%. The firm had revenue of $5.77 billion during the quarter, compared to analyst estimates of $5.75 billion. During the same period last year, the company posted $3.02 EPS. The business’s quarterly revenue was down .7% compared to the same quarter last year. analysts expect that Amgen, Inc. will post 12.71 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 8th. Shareholders of record on Thursday, February 15th will be given a dividend of $1.32 per share. The ex-dividend date of this dividend is Wednesday, February 14th. This is a positive change from Amgen’s previous quarterly dividend of $1.15. This represents a $5.28 dividend on an annualized basis and a yield of 2.92%. Amgen’s dividend payout ratio (DPR) is presently 41.63%.
Amgen announced that its Board of Directors has initiated a stock buyback plan on Wednesday, October 25th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the medical research company to repurchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.
In other news, Director Carbonnel Francois De sold 4,000 shares of Amgen stock in a transaction dated 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 Securities & Exchange Commission, which is available through this link. Also, EVP Sean E. Harper sold 1,525 shares of Amgen stock in a transaction dated Monday, October 9th. The shares were sold at an average price of $185.95, for a total value of $283,573.75. The disclosure for this sale can be found here. Insiders have sold a total of 8,575 shares of company stock valued at $1,509,339 over the last 90 days. Corporate 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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