180 Wealth Advisors LLC acquired a new position in shares of Amgen (NASDAQ:AMGN) in the fourth quarter, Holdings Channel reports. The fund acquired 7,922 shares of the medical research company’s stock, valued at approximately $1,378,000.
Several other institutional investors also recently made changes to their positions in AMGN. Toronto Dominion Bank grew its stake in Amgen by 11.0% in the third quarter. Toronto Dominion Bank now owns 279,280 shares of the medical research company’s stock valued at $52,066,000 after acquiring an additional 27,726 shares during the period. Teacher Retirement System of Texas boosted its position in shares of Amgen by 16.5% during the third quarter. Teacher Retirement System of Texas now owns 740,764 shares of the medical research company’s stock worth $138,115,000 after buying an additional 104,871 shares during the period. Putnam FL Investment Management Co. acquired a new position in shares of Amgen during the third quarter worth about $447,000. Moody Lynn & Lieberson LLC acquired a new position in shares of Amgen during the third quarter worth about $2,353,000. Finally, Patten Group Inc. boosted its position in shares of Amgen by 1,151.5% during the third quarter. Patten Group Inc. now owns 27,859 shares of the medical research company’s stock worth $389,000 after buying an additional 25,633 shares during the period. 79.55% of the stock is owned by institutional investors and hedge funds.
AMGN opened at $171.48 on Monday. Amgen has a 52-week low of $152.16 and a 52-week high of $201.23. The stock has a market cap of $114,287.63, a P/E ratio of 13.63, a P/E/G ratio of 2.10 and a beta of 1.36. The company has a debt-to-equity ratio of 1.35, a quick ratio of 5.17 and a current ratio of 5.49.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 8th. Shareholders of record on Thursday, May 17th will be paid a $1.32 dividend. The ex-dividend date is Wednesday, May 16th. This represents a $5.28 annualized dividend and a yield of 3.08%. Amgen’s dividend payout ratio is 41.97%.
Amgen announced that its board has initiated a stock repurchase plan on Thursday, February 1st that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the medical research company to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.
Several research analysts have recently weighed in on the company. ValuEngine cut Amgen from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. TheStreet cut Amgen from a “b-” rating to a “c+” rating in a research report on Wednesday, April 11th. Barclays reduced their price objective on Amgen from $190.00 to $180.00 and set an “equal weight” rating for the company in a research report on Thursday, April 5th. Oppenheimer set a $205.00 price objective on Amgen and gave the stock a “buy” rating in a research report on Friday, January 5th. Finally, Atlantic Securities cut Amgen from an “overweight” rating to a “neutral” rating and set a $187.01 price objective for the company. in a research report on Monday, February 5th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eleven have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $190.57.
In other Amgen news, EVP Sean E. Harper sold 1,525 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $174.18, for a total value of $265,624.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders sold 4,575 shares of company stock worth $838,064 in the last 90 days. Corporate insiders own 0.19% of the company’s stock.
ILLEGAL ACTIVITY WARNING: This article was reported by Chaffey Breeze and is the property of of Chaffey Breeze. If you are reading this article on another domain, it was copied illegally and republished in violation of United States and international trademark and copyright law. The correct version of this article can be read at https://www.chaffeybreeze.com/2018/04/16/180-wealth-advisors-llc-acquires-shares-of-7922-amgen-amgn.html.
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, nephrology, and neuroscience. The company's products include Evenity to treat osteoporosis in postmenopausal women; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Repatha to treat coronary diseases; Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Parsabiv to treat secondary hyperparathyroidism (sHPT); and Aimovig for the prevention of migraine.
Want to see what other hedge funds are holding AMGN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Amgen (NASDAQ:AMGN).
Receive News & Ratings for Amgen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amgen and related companies with MarketBeat.com's FREE daily email newsletter.