Harfst & Associates Inc. Increases Stock Holdings in Amgen, Inc. (NASDAQ:AMGN)

Harfst & Associates Inc. lifted its position in Amgen, Inc. (NASDAQ:AMGN) by 7.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,323 shares of the medical research company’s stock after buying an additional 294 shares during the quarter. Harfst & Associates Inc.’s holdings in Amgen were worth $796,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Advisors Preferred LLC purchased a new stake in Amgen in the second quarter valued at approximately $30,000. Arbor Wealth Management LLC raised its stake in Amgen by 154.5% in the second quarter. Arbor Wealth Management LLC now owns 168 shares of the medical research company’s stock valued at $31,000 after purchasing an additional 102 shares in the last quarter. C J Advisory Inc purchased a new stake in Amgen in the first quarter valued at approximately $40,000. Ashburton Jersey Ltd purchased a new stake in Amgen in the second quarter valued at approximately $42,000. Finally, Sound Income Strategies LLC raised its stake in Amgen by 402.1% in the second quarter. Sound Income Strategies LLC now owns 236 shares of the medical research company’s stock valued at $43,000 after purchasing an additional 189 shares in the last quarter. 76.24% of the stock is currently owned by hedge funds and other institutional investors.

AMGN has been the topic of a number of recent analyst reports. Morgan Stanley lowered their target price on shares of Amgen from $211.00 to $207.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Oppenheimer set a $240.00 target price on shares of Amgen and gave the company a “buy” rating in a research note on Monday, September 9th. Citigroup reaffirmed a “buy” rating on shares of Amgen in a research note on Monday, August 12th. JPMorgan Chase & Co. set a $198.00 price target on shares of Amgen and gave the stock a “hold” rating in a research note on Friday, September 6th. Finally, Leerink Swann reissued a “hold” rating on shares of Amgen in a research note on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $217.33.

In related news, Director R Sanders Williams sold 425 shares of Amgen stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $183.04, for a total value of $77,792.00. Following the sale, the director now owns 16,336 shares in the company, valued at $2,990,141.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ronald D. Sugar sold 2,000 shares of Amgen stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $187.58, for a total transaction of $375,160.00. Following the completion of the sale, the director now owns 16,336 shares in the company, valued at approximately $3,064,306.88. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,851 shares of company stock worth $3,659,900. 0.25% of the stock is currently owned by company insiders.

Shares of Amgen stock opened at $198.64 on Friday. The company has a debt-to-equity ratio of 2.58, a quick ratio of 2.60 and a current ratio of 2.89. Amgen, Inc. has a 52-week low of $166.30 and a 52-week high of $211.90. The stock has a market capitalization of $117.97 billion, a price-to-earnings ratio of 13.79, a P/E/G ratio of 2.56 and a beta of 1.11. The company’s 50 day moving average price is $198.98 and its 200-day moving average price is $185.35.

Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, July 30th. The medical research company reported $3.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.58 by $0.39. The firm had revenue of $5.87 billion for the quarter, compared to analysts’ expectations of $5.67 billion. Amgen had a net margin of 33.78% and a return on equity of 76.17%. The business’s revenue was down 3.1% on a year-over-year basis. During the same quarter last year, the business earned $3.83 earnings per share. As a group, equities research analysts forecast that Amgen, Inc. will post 14.3 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Thursday, August 15th were issued a $1.45 dividend. This represents a $5.80 annualized dividend and a yield of 2.92%. The ex-dividend date of this dividend was Wednesday, August 14th. Amgen’s dividend payout ratio (DPR) is currently 40.28%.

Amgen Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, and neuroscience. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Aranesp to treat anemia; Xgeva for skeletal-related events prevention; Sensipar/Mimpara products to treat sHPT in chronic kidney disease; and EPOGEN to treat a lower-than-normal number of red blood cells.

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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