Canada Pension Plan Investment Board reduced its holdings in shares of Amgen, Inc. (NASDAQ:AMGN) by 3.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,650,661 shares of the medical research company’s stock after selling 55,600 shares during the quarter. Canada Pension Plan Investment Board owned 0.23% of Amgen worth $307,766,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Shelton Capital Management increased its holdings in Amgen by 82.7% in the 1st quarter. Shelton Capital Management now owns 108,997 shares of the medical research company’s stock worth $17,883,000 after purchasing an additional 49,354 shares in the last quarter. Wallington Asset Management LLC increased its holdings in Amgen by 9.3% in the 2nd quarter. Wallington Asset Management LLC now owns 72,183 shares of the medical research company’s stock worth $12,432,000 after purchasing an additional 6,145 shares in the last quarter. Regentatlantic Capital LLC increased its holdings in Amgen by 0.8% in the 2nd quarter. Regentatlantic Capital LLC now owns 72,211 shares of the medical research company’s stock worth $12,437,000 after purchasing an additional 597 shares in the last quarter. Welch Group LLC acquired a new position in Amgen in the 2nd quarter worth about $639,000. Finally, DekaBank Deutsche Girozentrale increased its holdings in Amgen by 2.8% in the 2nd 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 in the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.
Several equities research analysts have recently weighed in on AMGN shares. Mizuho reissued a “buy” rating and issued a $198.00 price target (up previously from $183.00) on shares of Amgen in a research note on Thursday, September 28th. BMO Capital Markets reissued a “hold” rating and issued a $198.00 price target on shares of Amgen in a research note on Friday, October 20th. Jefferies Group reissued a “buy” rating and issued a $200.00 price target on shares of Amgen in a research note on Monday, September 25th. Barclays increased their price target on Amgen from $180.00 to $190.00 and gave the company an “equal weight” rating in a research note on Friday, October 13th. Finally, Royal Bank of Canada started coverage on Amgen in a research note on Thursday, September 14th. They issued a “sector perform” rating and a $192.00 price target for the company. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Amgen has an average rating of “Hold” and an average price target of $189.94.
Amgen (NASDAQ:AMGN) last released its earnings results on Wednesday, October 25th. The medical research company reported $3.27 EPS for the quarter, topping the 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 business had revenue of $5.77 billion during the quarter, compared to analysts’ expectations of $5.75 billion. During the same quarter last year, the firm posted $3.02 earnings per share. The firm’s revenue was down .7% on a year-over-year basis. analysts forecast that Amgen, Inc. will post 12.67 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 8th. Investors of record on Thursday, February 15th will be paid a dividend of $1.32 per share. The ex-dividend date is Wednesday, February 14th. This represents a $5.28 annualized dividend and a yield of 3.04%. This is a boost from Amgen’s previous quarterly dividend of $1.15. Amgen’s dividend payout ratio (DPR) is currently 41.63%.
Amgen declared that its Board of Directors has initiated a stock repurchase program on Wednesday, October 25th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the medical research company to buy shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its shares are undervalued.
In related news, Director Carbonnel Francois De sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $173.61, for a total transaction of $694,440.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Sean E. Harper sold 1,525 shares of the firm’s stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $176.83, for a total value of $269,665.75. Following the sale, the executive vice president now directly owns 56,106 shares of the company’s stock, valued at approximately $9,921,223.98. The disclosure for this sale can be found here. Insiders have sold 8,575 shares of company stock valued at $1,509,339 in the last ninety days. 0.19% of the stock is currently owned by insiders.
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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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