Amgen, Inc. (AMGN) Shares Sold by Destination Wealth Management

Destination Wealth Management decreased its holdings in shares of Amgen, Inc. (NASDAQ:AMGN) by 20.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,181 shares of the medical research company’s stock after selling 310 shares during the period. Destination Wealth Management’s holdings in Amgen were worth $203,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. BlueMountain Capital Management LLC boosted its stake in shares of Amgen by 181.8% during the second quarter. BlueMountain Capital Management LLC now owns 40,355 shares of the medical research company’s stock worth $6,950,000 after buying an additional 26,034 shares during the period. Amalgamated Bank boosted its stake in shares of Amgen by 47.9% during the second quarter. Amalgamated Bank now owns 84,095 shares of the medical research company’s stock worth $14,484,000 after buying an additional 27,240 shares during the period. BlackRock Inc. boosted its stake in shares of Amgen by 1.9% during the second quarter. BlackRock Inc. now owns 49,451,203 shares of the medical research company’s stock worth $8,516,980,000 after buying an additional 909,689 shares during the period. Bruderman Asset Management LLC acquired a new stake in shares of Amgen during the second quarter worth about $1,209,000. Finally, Bahl & Gaynor Inc. boosted its stake in shares of Amgen by 24.1% during the second quarter. Bahl & Gaynor Inc. now owns 793,496 shares of the medical research company’s stock worth $116,017,000 after buying an additional 154,003 shares during the period. Institutional investors and hedge funds own 78.38% of the company’s stock.

In other news, Director Carbonnel Francois De sold 4,000 shares of the firm’s 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Sean E. Harper sold 1,525 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $171.58, for a total transaction of $261,659.50. Following the transaction, the executive vice president now directly owns 57,631 shares of the company’s stock, valued at $9,888,326.98. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,050 shares of company stock valued at $1,239,673. Corporate insiders own 0.19% of the company’s stock.

A number of brokerages recently commented on AMGN. BMO Capital Markets restated a “market perform” rating and issued a $198.00 price objective on shares of Amgen in a research report on Thursday, October 26th. Cann restated a “buy” rating on shares of Amgen in a research report on Monday, August 28th. Oppenheimer restated a “buy” rating and issued a $203.00 price objective on shares of Amgen in a research report on Thursday, September 7th. Mizuho restated a “buy” rating and issued a $198.00 price objective (up previously from $183.00) on shares of Amgen in a research report on Thursday, September 28th. Finally, Zacks Investment Research downgraded shares of Amgen from a “buy” rating to a “hold” rating in a research report on Monday, October 16th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. Amgen has an average rating of “Hold” and a consensus price target of $190.22.

Amgen, Inc. (NASDAQ:AMGN) opened at $176.22 on Thursday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 5.72 and a current ratio of 6.07. Amgen, Inc. has a 12 month low of $138.83 and a 12 month high of $191.10. The firm has a market cap of $129,712.96, a P/E ratio of 14.20, a PEG ratio of 2.59 and a beta of 1.36.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Wednesday, October 25th. The medical research company reported $3.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.11 by $0.16. Amgen had a net margin of 35.54% and a return on equity of 29.90%. The business had revenue of $5.77 billion during the quarter, compared to analysts’ expectations of $5.75 billion. During the same period last year, the company posted $3.02 EPS. The company’s revenue was down .7% on a year-over-year basis. research analysts predict that Amgen, Inc. will post 12.66 earnings per share for the current year.

Amgen declared that its Board of Directors has authorized a share buyback program on Wednesday, October 25th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the medical research company to purchase shares of its stock through open market purchases. Shares 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, December 8th. Stockholders of record on Friday, November 17th will be paid a dividend of $1.15 per share. The ex-dividend date is Thursday, November 16th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.61%. Amgen’s dividend payout ratio (DPR) is 41.63%.

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About Amgen

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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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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