Wallington Asset Management LLC increased its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 0.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 36,514 shares of the medical research company’s stock after buying an additional 200 shares during the period. Amgen comprises 2.1% of Wallington Asset Management LLC’s portfolio, making the stock its 20th largest holding. Wallington Asset Management LLC’s holdings in Amgen were worth $9,280,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in AMGN. Price Wealth LLC boosted its holdings in Amgen by 42.9% during the second quarter. Price Wealth LLC now owns 140 shares of the medical research company’s stock worth $33,000 after buying an additional 42 shares in the last quarter. Lake Point Wealth Management raised its position in Amgen by 1,590.0% during the first quarter. Lake Point Wealth Management now owns 169 shares of the medical research company’s stock worth $34,000 after acquiring an additional 159 shares during the last quarter. Campbell Wealth Management acquired a new position in Amgen during the second quarter worth about $51,000. Demars Financial Group LLC acquired a new position in Amgen during the second quarter worth about $53,000. Finally, 1776 Wealth LLC acquired a new position in Amgen during the second quarter worth about $59,000. 75.23% of the stock is currently owned by hedge funds and other institutional investors.
AMGN has been the subject of a number of research reports. Raymond James restated a “market perform” rating on shares of Amgen in a research report on Tuesday, October 6th. SVB Leerink lifted their target price on shares of Amgen from $253.00 to $261.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 29th. JPMorgan Chase & Co. restated a “hold” rating on shares of Amgen in a research report on Tuesday, September 22nd. Jefferies Financial Group lifted their target price on shares of Amgen from $285.00 to $300.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Finally, Morgan Stanley cut their target price on shares of Amgen from $281.00 to $273.00 and set an “overweight” rating for the company in a research report on Tuesday, October 13th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. Amgen currently has a consensus rating of “Hold” and a consensus target price of $255.08.
AMGN traded up $0.71 during trading on Friday, hitting $235.72. 2,059,919 shares of the company’s stock were exchanged, compared to its average volume of 2,885,637. The company has a current ratio of 2.18, a quick ratio of 1.81 and a debt-to-equity ratio of 3.20. Amgen Inc. has a 1 year low of $177.05 and a 1 year high of $264.97. The stock has a 50 day moving average price of $246.43 and a 200 day moving average price of $237.88. The firm has a market cap of $138.06 billion, a P/E ratio of 19.26, a price-to-earnings-growth ratio of 2.11 and a beta of 0.81.
Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, July 28th. The medical research company reported $4.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.81 by $0.44. Amgen had a net margin of 30.04% and a return on equity of 91.98%. The company had revenue of $6.21 billion during the quarter, compared to the consensus estimate of $6.19 billion. During the same period in the previous year, the firm earned $3.97 earnings per share. Amgen’s revenue for the quarter was up 5.7% on a year-over-year basis. Analysts forecast that Amgen Inc. will post 15.66 earnings per share for the current fiscal year.
In other news, Director R Sanders Williams sold 250 shares of the company’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $242.95, for a total value of $60,737.50. Following the completion of the transaction, the director now directly owns 5,159 shares in the company, valued at $1,253,379.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ronald D. Sugar sold 1,000 shares of the company’s stock in a transaction on Wednesday, July 22nd. The shares were sold at an average price of $259.79, for a total transaction of $259,790.00. Following the completion of the transaction, the director now owns 16,589 shares of the company’s stock, valued at $4,309,656.31. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,250 shares of company stock valued at $561,548. 0.36% of the stock is owned by insiders.
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Sensipar/Mimpara to treat secondary hyperparathyroidism; and EPOGEN to treat anemia caused by chronic kidney disease.
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