Concorde Asset Management LLC lowered its stake in shares of Amgen, Inc. (NASDAQ:AMGN) by 34.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,281 shares of the medical research company’s stock after selling 685 shares during the period. Concorde Asset Management LLC’s holdings in Amgen were worth $237,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Amgen by 4.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 70,728 shares of the medical research company’s stock valued at $11,605,000 after purchasing an additional 2,760 shares during the last quarter. Davidson & Garrard Inc. lifted its stake in shares of Amgen by 2.6% in the 1st quarter. Davidson & Garrard Inc. now owns 5,055 shares of the medical research company’s stock valued at $829,000 after purchasing an additional 128 shares during the last quarter. Conservest Capital Advisors Inc. acquired a new stake in shares of Amgen in the 1st quarter valued at $511,000. Private Advisor Group LLC lifted its stake in shares of Amgen by 6.8% in the 1st quarter. Private Advisor Group LLC now owns 46,776 shares of the medical research company’s stock valued at $7,589,000 after purchasing an additional 2,980 shares during the last quarter. Finally, Congress Asset Management Co. MA lifted its stake in shares of Amgen by 1.8% in the 1st quarter. Congress Asset Management Co. MA now owns 35,902 shares of the medical research company’s stock valued at $5,890,000 after purchasing an additional 634 shares during the last quarter. 78.46% of the stock is owned by institutional investors.
In other news, EVP Sean E. Harper sold 1,525 shares of the business’s stock in a transaction dated Monday, October 9th. The shares were sold at an average price of $185.95, for a total transaction of $283,573.75. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Carbonnel Francois De sold 4,000 shares of the business’s 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,575 shares of company stock worth $1,509,339. Insiders own 0.19% of the company’s stock.
Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Wednesday, October 25th. The medical research company reported $3.27 earnings per share (EPS) for the quarter, topping the 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 company had revenue of $5.77 billion for the quarter, compared to the consensus estimate of $5.75 billion. During the same quarter in the previous year, the firm posted $3.02 EPS. The business’s revenue was down .7% compared to the same quarter last year. equities research analysts forecast that Amgen, Inc. will post 12.67 earnings per share for the current year.
Amgen declared that its board has initiated a stock repurchase program on Wednesday, October 25th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the medical research company to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 8th. Stockholders of record on Thursday, February 15th will be issued a dividend of $1.32 per share. This is an increase from Amgen’s previous quarterly dividend of $1.15. The ex-dividend date is Wednesday, February 14th. This represents a $5.28 annualized dividend and a dividend yield of 2.98%. Amgen’s payout ratio is presently 41.63%.
Several research firms recently issued reports on AMGN. Piper Jaffray Companies reaffirmed a “buy” rating on shares of Amgen in a research note on Tuesday. Credit Suisse Group reaffirmed a “neutral” rating and issued a $186.00 price objective (up previously from $177.00) on shares of Amgen in a research note on Friday, September 29th. Royal Bank of Canada started coverage on shares of Amgen in a report on Thursday, September 14th. They issued a “sector perform” rating and a $192.00 target price on the stock. Morgan Stanley dropped their target price on shares of Amgen from $196.00 to $193.00 and set an “overweight” rating on the stock in a report on Thursday, October 26th. Finally, Zacks Investment Research upgraded shares of Amgen from a “hold” rating to a “buy” rating and set a $199.00 target price on the stock in a report on Friday, October 27th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $189.94.
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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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