Bridgeworth LLC lowered its stake in shares of Amgen, Inc. (NASDAQ:AMGN) by 22.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,529 shares of the medical research company’s stock after selling 449 shares during the quarter. Bridgeworth LLC’s holdings in Amgen were worth $282,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. HC Financial Advisors Inc. acquired a new stake in Amgen in the fourth quarter valued at about $1,924,000. Boston Partners lifted its position in Amgen by 7.5% in the first quarter. Boston Partners now owns 9,952 shares of the medical research company’s stock valued at $1,697,000 after purchasing an additional 698 shares during the period. Financial Gravity Wealth Inc. acquired a new stake in Amgen in the first quarter valued at about $579,000. Frontier Investment Mgmt Co. lifted its position in Amgen by 12.0% in the first quarter. Frontier Investment Mgmt Co. now owns 7,367 shares of the medical research company’s stock valued at $1,256,000 after purchasing an additional 790 shares during the period. Finally, Grimes & Company Inc. lifted its position in Amgen by 11.9% in the first quarter. Grimes & Company Inc. now owns 60,906 shares of the medical research company’s stock valued at $10,383,000 after purchasing an additional 6,483 shares during the period. 77.20% of the stock is currently owned by hedge funds and other institutional investors.
In other news, EVP Sean E. Harper sold 1,525 shares of Amgen stock in a transaction that occurred on Monday, July 16th. The shares were sold at an average price of $195.71, for a total transaction of $298,457.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.19% of the stock is currently owned by company insiders.
Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Thursday, July 26th. The medical research company reported $3.83 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.52 by $0.31. Amgen had a net margin of 10.19% and a return on equity of 43.18%. The company had revenue of $6.06 billion during the quarter, compared to the consensus estimate of $5.73 billion. During the same period last year, the firm earned $3.27 EPS. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. analysts forecast that Amgen, Inc. will post 13.95 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 7th. Stockholders of record on Friday, August 17th were given a dividend of $1.32 per share. The ex-dividend date of this dividend was Thursday, August 16th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 2.63%. Amgen’s payout ratio is 41.97%.
A number of brokerages recently commented on AMGN. Jefferies Financial Group set a $220.00 price objective on shares of Amgen and gave the company a “buy” rating in a research report on Wednesday. Oppenheimer set a $224.00 price objective on shares of Amgen and gave the company a “buy” rating in a research report on Monday, September 10th. Royal Bank of Canada restated a “neutral” rating and issued a $193.00 price objective on shares of Amgen in a research report on Monday, September 10th. Wells Fargo & Co restated a “neutral” rating and issued a $197.00 price objective on shares of Amgen in a research report on Wednesday, August 29th. Finally, Cann restated a “buy” rating and issued a $224.00 price objective on shares of Amgen in a research report on Monday, July 30th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $202.76.
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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