ETRADE Capital Management LLC boosted its position in Amgen (NASDAQ:AMGN) by 5.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,558 shares of the medical research company’s stock after acquiring an additional 609 shares during the quarter. ETRADE Capital Management LLC’s holdings in Amgen were worth $2,010,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of AMGN. Lingohr & Partner Asset Management GmbH raised its holdings in Amgen by 71.4% during the second quarter. Lingohr & Partner Asset Management GmbH now owns 8,165 shares of the medical research company’s stock worth $1,340,000 after purchasing an additional 3,400 shares in the last quarter. Thrivent Financial For Lutherans raised its holdings in Amgen by 107.1% during the second quarter. Thrivent Financial For Lutherans now owns 118,342 shares of the medical research company’s stock worth $20,382,000 after purchasing an additional 61,212 shares in the last quarter. Verity Asset Management Inc. raised its holdings in Amgen by 363.8% during the second quarter. Verity Asset Management Inc. now owns 8,989 shares of the medical research company’s stock worth $1,548,000 after purchasing an additional 7,051 shares in the last quarter. Investec Asset Management LTD raised its holdings in Amgen by 1,081.7% during the second quarter. Investec Asset Management LTD now owns 21,967 shares of the medical research company’s stock worth $3,783,000 after purchasing an additional 20,108 shares in the last quarter. Finally, Fort L.P. acquired a new stake in Amgen during the second quarter worth approximately $4,294,000. 79.54% of the stock is currently owned by hedge funds and other institutional investors.
In related news, EVP Sean E. Harper sold 1,525 shares of Amgen stock in a transaction on Friday, March 16th. The shares were sold at an average price of $189.75, for a total value of $289,368.75. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last quarter, insiders sold 4,575 shares of company stock worth $818,330. 0.19% of the stock is currently owned by insiders.
Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Thursday, February 1st. The medical research company reported $2.89 earnings per share for the quarter, missing analysts’ consensus estimates of $3.03 by ($0.14). Amgen had a net margin of 8.66% and a return on equity of 30.87%. The firm had revenue of $5.80 billion during the quarter, compared to analysts’ expectations of $5.84 billion. During the same quarter last year, the business earned $2.89 earnings per share. The business’s quarterly revenue was down 2.7% on a year-over-year basis. analysts anticipate that Amgen will post 13.26 earnings per share for the current year.
Amgen declared that its board has authorized a share repurchase plan on Thursday, February 1st that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the medical research company to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 8th. Investors of record on Thursday, May 17th will be given a $1.32 dividend. The ex-dividend date of this dividend is Wednesday, May 16th. This represents a $5.28 dividend on an annualized basis and a yield of 3.08%. Amgen’s dividend payout ratio (DPR) is 41.97%.
A number of research firms have weighed in on AMGN. Argus raised shares of Amgen from a “hold” rating to a “buy” rating and raised their price objective for the stock from $192.33 to $220.00 in a report on Tuesday, January 23rd. JPMorgan Chase raised their price objective on shares of Amgen from $184.00 to $189.00 and gave the stock a “neutral” rating in a report on Wednesday, January 24th. Royal Bank of Canada reissued a “hold” rating and set a $189.00 price objective on shares of Amgen in a report on Wednesday, January 24th. Vetr cut shares of Amgen from a “hold” rating to a “sell” rating and set a $181.60 price objective on the stock. in a report on Tuesday, March 6th. Finally, BMO Capital Markets raised their price objective on shares of Amgen from $192.00 to $202.00 and gave the stock a “market perform” rating in a report on Friday, February 2nd. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and eleven have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $190.57.
Amgen Company Profile
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.
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