Andra AP fonden decreased its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 6.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,700 shares of the medical research company’s stock after selling 2,600 shares during the period. Andra AP fonden’s holdings in Amgen were worth $6,493,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of the company. TrimTabs Asset Management LLC boosted its holdings in Amgen by 88.9% during the first quarter. TrimTabs Asset Management LLC now owns 612 shares of the medical research company’s stock worth $100,000 after purchasing an additional 288 shares during the last quarter. Jackson Grant Investment Advisers Inc. lifted its stake in Amgen by 0.6% in the first quarter. Jackson Grant Investment Advisers Inc. now owns 636 shares of the medical research company’s stock valued at $104,000 after acquiring an additional 4 shares during the last quarter. American Beacon Advisors Inc. acquired a new stake in Amgen in the first quarter valued at $106,000. Grove Bank & Trust lifted its stake in Amgen by 87.4% in the second quarter. Grove Bank & Trust now owns 731 shares of the medical research company’s stock valued at $126,000 after acquiring an additional 341 shares during the last quarter. Finally, Nelson Roberts Investment Advisors LLC acquired a new stake in Amgen in the first quarter valued at $121,000. 78.54% of the stock is owned by institutional investors.
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A number of analysts have commented on AMGN shares. Cann reiterated a “buy” rating and issued a $203.00 price target (up previously from $189.00) on shares of Amgen in a research note on Wednesday, July 26th. Jefferies Group LLC restated a “buy” rating and set a $195.00 target price on shares of Amgen in a research note on Monday, July 17th. Oppenheimer Holdings, Inc. restated a “buy” rating and set a $203.00 target price on shares of Amgen in a research note on Thursday, September 7th. Mizuho restated a “buy” rating and set a $183.00 target price (down previously from $195.00) on shares of Amgen in a research note on Monday, August 21st. Finally, BidaskClub cut shares of Amgen from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Thirteen analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $190.03.
In other Amgen news, Director Carbonnel Francois De sold 4,000 shares of the stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $173.61, for a total transaction of $694,440.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Sean E. Harper sold 1,525 shares of the stock in a transaction that occurred on Monday, October 9th. The shares were sold at an average price of $185.95, for a total transaction of $283,573.75. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by corporate insiders.
Shares of Amgen Inc. (AMGN) opened at $172.35 on Friday. Amgen Inc. has a fifty-two week low of $138.83 and a fifty-two week high of $191.10. The stock has a market cap of $125,110.77, a PE ratio of 13.70, a PEG ratio of 2.50 and a beta of 1.37. 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 results on Wednesday, October 25th. The medical research company reported $3.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.11 by $0.16. Amgen had a net margin of 35.54% and a return on equity of 29.90%. The firm had revenue of $5.77 billion for the quarter, compared to the consensus estimate of $5.75 billion. During the same period in the prior year, the firm posted $3.02 earnings per share. The company’s revenue for the quarter was down .7% on a year-over-year basis. research analysts predict that Amgen Inc. will post 12.66 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 17th will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date of this dividend is Thursday, November 16th. Amgen’s payout ratio is 41.63%.
Amgen announced that its board has authorized a share repurchase plan on Wednesday, October 25th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the medical research company to reacquire shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.
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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