Sapphire Star Partners LP reduced its stake in shares of Amgen, Inc. (NASDAQ:AMGN) by 27.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 28,823 shares of the medical research company’s stock after selling 10,677 shares during the period. Amgen makes up 7.0% of Sapphire Star Partners LP’s investment portfolio, making the stock its 2nd biggest position. Sapphire Star Partners LP’s holdings in Amgen were worth $5,373,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Columbia Asset Management lifted its stake in Amgen by 10.4% in the first quarter. Columbia Asset Management now owns 23,700 shares of the medical research company’s stock worth $3,888,000 after purchasing an additional 2,238 shares during the last quarter. Eliot Finkel Investment Counsel LLC lifted its stake in Amgen by 6.2% in the first quarter. Eliot Finkel Investment Counsel LLC now owns 32,305 shares of the medical research company’s stock worth $5,300,000 after purchasing an additional 1,880 shares during the last quarter. SRS Capital Advisors Inc. lifted its stake in Amgen by 22.9% in the first quarter. SRS Capital Advisors Inc. now owns 1,696 shares of the medical research company’s stock worth $278,000 after purchasing an additional 316 shares during the last quarter. Verity Asset Management Inc. bought a new stake in Amgen in the first quarter worth $318,000. Finally, Perceptive Advisors LLC bought a new stake in Amgen in the first quarter worth $3,281,000. 78.46% of the stock is owned by institutional investors.
In related 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Carbonnel Francois De sold 4,000 shares of the business’s stock in a transaction dated Wednesday, November 8th. The shares were 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. Insiders have sold 8,575 shares of company stock worth $1,509,339 in the last quarter. 0.19% of the stock is owned by corporate insiders.
Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Wednesday, October 25th. The medical research company reported $3.27 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $5.75 billion. During the same quarter in the previous year, the company earned $3.02 earnings per share. The company’s revenue for the quarter was down .7% compared to the same quarter last year. equities research analysts expect that Amgen, Inc. will post 12.71 EPS for the current fiscal year.
Amgen declared that its Board of Directors has initiated a stock repurchase plan 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 plans are typically a sign that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 8th. Investors of record on Thursday, February 15th will be given a dividend of $1.32 per share. The ex-dividend date is Wednesday, February 14th. This represents a $5.28 annualized dividend and a dividend yield of 2.94%. This is a boost from Amgen’s previous quarterly dividend of $1.15. Amgen’s payout ratio is currently 41.55%.
Several analysts have weighed in on the stock. Royal Bank of Canada assumed coverage on shares of Amgen in a research note on Thursday, September 14th. They issued a “sector perform” rating and a $192.00 price target for the company. Bank of America boosted their price target on shares of Amgen to $210.00 and gave the stock a “buy” rating in a research note on Thursday, October 5th. Oppenheimer reissued a “buy” rating and issued a $203.00 price target on shares of Amgen in a research note on Friday, October 6th. Mizuho reissued a “buy” rating and issued a $198.00 price target on shares of Amgen in a research note on Friday, October 6th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $196.00 price target (up from $189.00) on shares of Amgen in a research note on Friday, October 6th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and ten have given a buy rating to the company. Amgen currently has an average rating of “Hold” and an average target price of $190.15.
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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