Chicago Equity Partners LLC Decreases Position in Amgen (AMGN)

Chicago Equity Partners LLC cut its position in shares of Amgen (NASDAQ:AMGN) by 0.7% in the first quarter, HoldingsChannel reports. The institutional investor owned 95,120 shares of the medical research company’s stock after selling 700 shares during the period. Chicago Equity Partners LLC’s holdings in Amgen were worth $16,216,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Robeco Institutional Asset Management B.V. grew its stake in Amgen by 60.8% in the first quarter. Robeco Institutional Asset Management B.V. now owns 247,299 shares of the medical research company’s stock valued at $42,159,000 after purchasing an additional 93,518 shares in the last quarter. Bailard Inc. grew its stake in Amgen by 7.5% in the first quarter. Bailard Inc. now owns 5,015 shares of the medical research company’s stock valued at $855,000 after purchasing an additional 350 shares in the last quarter. Psagot Investment House Ltd. bought a new position in Amgen in the first quarter valued at approximately $6,682,000. KCS Wealth Advisory bought a new position in Amgen in the first quarter valued at approximately $257,000. Finally, Sandy Spring Bank grew its stake in Amgen by 8.5% in the first quarter. Sandy Spring Bank now owns 15,177 shares of the medical research company’s stock valued at $2,587,000 after purchasing an additional 1,195 shares in the last quarter. Institutional investors and hedge funds own 86.24% of the company’s stock.

AMGN has been the subject of a number of analyst reports. BidaskClub upgraded Amgen from a “sell” rating to a “hold” rating in a research note on Thursday, January 18th. Argus upgraded Amgen from a “hold” rating to a “buy” rating and raised their price target for the company from $192.33 to $220.00 in a research note on Tuesday, January 23rd. Royal Bank of Canada reiterated a “hold” rating and set a $189.00 target price on shares of Amgen in a research note on Wednesday, January 24th. JPMorgan Chase lifted their target price on Amgen from $184.00 to $189.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 24th. Finally, Oppenheimer reiterated a “buy” rating and set a $205.00 target price on shares of Amgen in a research note 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. The stock presently has an average rating of “Hold” and a consensus price target of $191.70.

NASDAQ:AMGN opened at $174.65 on Friday. The company has a market cap of $114.04 billion, a P/E ratio of 13.88, a PEG 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 has a 1-year low of $170.68 and a 1-year high of $173.18.

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

The company also recently declared a quarterly dividend, which will be paid on Friday, June 8th. Investors of record on Thursday, May 17th will be issued a dividend of $1.32 per share. The ex-dividend date is Wednesday, May 16th. This represents a $5.28 annualized dividend and a yield of 3.02%. Amgen’s payout ratio is currently 41.97%.

Amgen announced that its board has authorized a stock buyback program on Thursday, February 1st that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the medical research company to purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

In related news, EVP Sean E. Harper sold 1,525 shares of Amgen stock in a transaction that occurred on Thursday, April 12th. The stock was sold at an average price of $172.68, for a total transaction of $263,337.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders have sold 4,575 shares of company stock valued at $818,208. 0.19% of the stock is currently 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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