CFO4Life Group LLC Reduces Position in Amgen (AMGN)

CFO4Life Group LLC lowered its holdings in Amgen (NASDAQ:AMGN) by 38.6% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,316 shares of the medical research company’s stock after selling 2,708 shares during the period. Amgen makes up 0.6% of CFO4Life Group LLC’s holdings, making the stock its 20th biggest holding. CFO4Life Group LLC’s holdings in Amgen were worth $736,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the stock. Geode Capital Management LLC grew its holdings in Amgen by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 8,110,133 shares of the medical research company’s stock worth $1,407,552,000 after acquiring an additional 199,838 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Amgen by 16.9% during the 4th quarter. Renaissance Technologies LLC now owns 4,579,445 shares of the medical research company’s stock worth $796,365,000 after acquiring an additional 661,745 shares in the last quarter. LSV Asset Management grew its holdings in Amgen by 5.6% during the 1st quarter. LSV Asset Management now owns 4,028,784 shares of the medical research company’s stock worth $686,827,000 after acquiring an additional 214,013 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Amgen by 1.6% during the 3rd quarter. Legal & General Group Plc now owns 3,781,891 shares of the medical research company’s stock worth $705,099,000 after buying an additional 60,532 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its position in shares of Amgen by 3.9% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 3,304,340 shares of the medical research company’s stock worth $574,680,000 after buying an additional 123,250 shares during the last quarter. Hedge funds and other institutional investors own 86.24% of the company’s stock.

AMGN stock opened at $174.65 on Friday. Amgen has a 12 month low of $170.68 and a 12 month high of $173.18. The firm has a market capitalization of $114.04 billion, a P/E ratio of 13.88, a price-to-earnings-growth ratio of 2.09 and a beta of 1.36. The company has a quick ratio of 3.60, a current ratio of 3.88 and a debt-to-equity ratio of 2.14.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, April 24th. The medical research company reported $3.47 EPS for the quarter, beating the consensus estimate of $3.24 by $0.23. Amgen had a net margin of 9.67% and a return on equity of 35.80%. The firm had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $5.44 billion. During the same quarter in the prior year, the firm earned $3.15 EPS. Amgen’s revenue for the quarter was up 1.6% on a year-over-year basis. equities research analysts forecast that Amgen will post 13.71 earnings per share for the current fiscal year.

The firm also recently declared 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 is Wednesday, May 16th. This represents a $5.28 annualized dividend and a yield of 3.02%. Amgen’s dividend payout ratio (DPR) is 41.97%.

Amgen declared that its Board of Directors has initiated a stock 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. Shares repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Several analysts have recently weighed in on AMGN shares. BidaskClub upgraded shares of Amgen from a “sell” rating to a “hold” rating in a research report on Thursday, January 18th. Argus upgraded shares of Amgen from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $192.33 to $220.00 in a research report on Tuesday, January 23rd. Royal Bank of Canada restated a “hold” rating and set a $189.00 price objective on shares of Amgen in a research report on Wednesday, January 24th. JPMorgan Chase boosted their price objective on shares of Amgen from $184.00 to $189.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 24th. Finally, Oppenheimer restated a “buy” rating and set a $205.00 price objective on shares of Amgen in a research report on Tuesday, January 30th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Amgen currently has an average rating of “Hold” and a consensus price target of $191.70.

In related news, EVP Sean E. Harper sold 1,525 shares of the company’s stock in a transaction on Thursday, April 12th. The shares were sold at an average price of $172.68, for a total value of $263,337.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders sold 4,575 shares of company stock valued at $818,208. 0.19% of the stock is owned by insiders.

About Amgen

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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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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