Alpha Cubed Investments LLC increased its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 9.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,812 shares of the medical research company’s stock after buying an additional 3,912 shares during the period. Amgen comprises 2.0% of Alpha Cubed Investments LLC’s portfolio, making the stock its 20th largest position. Alpha Cubed Investments LLC’s holdings in Amgen were worth $7,308,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of the stock. BNP Paribas Arbitrage SA increased its stake in shares of Amgen by 23.2% in the second quarter. BNP Paribas Arbitrage SA now owns 1,175,040 shares of the medical research company’s stock valued at $178,782,000 after buying an additional 221,118 shares in the last quarter. Banced Corp increased its stake in shares of Amgen by 6.5% in the second quarter. Banced Corp now owns 2,395 shares of the medical research company’s stock valued at $331,000 after buying an additional 146 shares in the last quarter. First American Bank increased its stake in shares of Amgen by 158.7% in the second quarter. First American Bank now owns 9,992 shares of the medical research company’s stock valued at $1,520,000 after buying an additional 6,130 shares in the last quarter. Capital City Trust Co. FL acquired a new stake in shares of Amgen during the second quarter valued at $581,000. Finally, Concorde Asset Management LLC acquired a new stake in shares of Amgen during the second quarter valued at $271,000. Institutional investors own 77.90% of the company’s stock.
Amgen Inc. (NASDAQ:AMGN) traded down 1.69% during trading on Wednesday, reaching $156.07. The company had a trading volume of 2,004,485 shares. The firm’s 50 day moving average is $146.78 and its 200-day moving average is $159.07. Amgen Inc. has a 12 month low of $133.64 and a 12 month high of $176.85. The company has a market capitalization of $116.10 billion, a P/E ratio of 15.62 and a beta of 1.14.
Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Thursday, October 27th. The medical research company reported $3.02 EPS for the quarter, topping the Zacks’ consensus estimate of $2.79 by $0.23. The company had revenue of $5.81 billion for the quarter, compared to analysts’ expectations of $5.73 billion. Amgen had a return on equity of 29.27% and a net margin of 33.63%. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.72 earnings per share. On average, equities analysts expect that Amgen Inc. will post $11.55 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 8th. Shareholders of record on Wednesday, February 15th will be paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date is Monday, February 13th. This is a boost from Amgen’s previous quarterly dividend of $1.00. Amgen’s payout ratio is currently 39.92%.
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A number of research firms recently commented on AMGN. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and set a $206.00 target price (up previously from $204.00) on shares of Amgen in a report on Tuesday, September 27th. Jefferies Group reaffirmed a “buy” rating on shares of Amgen in a report on Wednesday, September 28th. Credit Suisse Group set a $206.00 target price on Amgen and gave the stock a “buy” rating in a report on Saturday, September 17th. Piper Jaffray Companies set a $193.00 target price on Amgen and gave the stock a “buy” rating in a report on Thursday, September 15th. Finally, Cowen and Company reaffirmed a “buy” rating on shares of Amgen in a report on Monday, September 19th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $179.48.
Amgen Inc is a biotechnology company. The Company discovers, develops, manufactures and delivers various human therapeutics. The Company’s business segment is human therapeutics. Its marketed products portfolio includes Neulasta (pegfilgrastim); erythropoiesis-stimulating agents (ESAs), such as Aranesp (darbepoetin alfa) and EPOGEN (epoetin alfa); Sensipar/Mimpara (cinacalcet); XGEVA (denosumab); Prolia (denosumab); NEUPOGEN (filgrastim), and other marketed products, such as Vectibix (panitumumab), Nplate (romiplostim) and Corlanor (ivabradine).
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