Logan Capital Management Inc. cut its position in Amgen Inc. (NASDAQ:AMGN) by 25.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,236 shares of the medical research company’s stock after selling 415 shares during the period. Logan Capital Management Inc.’s holdings in Amgen were worth $203,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in the company. Swiss National Bank increased its position in Amgen by 26.5% in the first quarter. Swiss National Bank now owns 2,636,008 shares of the medical research company’s stock worth $432,490,000 after buying an additional 551,600 shares in the last quarter. Morningstar Investment Services LLC increased its position in Amgen by 283.8% in the first quarter. Morningstar Investment Services LLC now owns 497,503 shares of the medical research company’s stock worth $81,625,000 after buying an additional 367,894 shares in the last quarter. Karp Capital Management Corp acquired a new position in Amgen during the first quarter worth approximately $54,888,000. Bank of Montreal Can increased its position in Amgen by 10.5% in the first quarter. Bank of Montreal Can now owns 2,837,456 shares of the medical research company’s stock worth $465,543,000 after buying an additional 269,586 shares in the last quarter. Finally, State of Tennessee Treasury Department increased its position in Amgen by 51.4% in the first quarter. State of Tennessee Treasury Department now owns 783,570 shares of the medical research company’s stock worth $128,560,000 after buying an additional 265,931 shares in the last quarter. 79.53% of the stock is owned by hedge funds and other institutional investors.
Amgen Inc. (NASDAQ AMGN) traded up 0.48% during mid-day trading on Friday, reaching $169.93. The company’s stock had a trading volume of 414,280 shares. Amgen Inc. has a 12 month low of $133.64 and a 12 month high of $184.21. The company has a market cap of $123.99 billion, a price-to-earnings ratio of 15.48 and a beta of 1.35. The stock’s 50 day moving average is $174.60 and its 200 day moving average is $167.37.
Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, July 25th. The medical research company reported $3.27 EPS for the quarter, topping the Zacks’ consensus estimate of $3.11 by $0.16. The company had revenue of $5.81 billion for the quarter, compared to analyst estimates of $5.67 billion. Amgen had a return on equity of 29.85% and a net margin of 35.46%. Amgen’s revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the firm posted $2.84 earnings per share. Equities research analysts predict that Amgen Inc. will post $12.57 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Thursday, August 17th will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date is Tuesday, August 15th. Amgen’s dividend payout ratio is currently 41.93%.
Several equities analysts have recently issued reports on AMGN shares. Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $189.00 price target on shares of Amgen in a report on Friday, June 30th. Cowen and Company reissued an “outperform” rating and set a $209.00 price target on shares of Amgen in a report on Wednesday, April 19th. Jefferies Group LLC reissued a “hold” rating and set a $180.00 price target on shares of Amgen in a report on Monday, May 22nd. BidaskClub raised shares of Amgen from a “buy” rating to a “strong-buy” rating in a report on Friday, June 23rd. Finally, Morgan Stanley boosted their price target on shares of Amgen from $183.00 to $184.00 and gave the company an “overweight” rating in a report on Tuesday, June 13th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. Amgen currently has a consensus rating of “Buy” and an average price target of $186.64.
In other news, SVP Cynthia M. Patton sold 2,922 shares of the firm’s stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $154.40, for a total transaction of $451,156.80. Following the sale, the senior vice president now owns 24,214 shares of the company’s stock, valued at $3,738,641.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.20% of the company’s stock.
Amgen Inc is a biotechnology company. The Company discovers, develops, manufactures and delivers various human therapeutics. It operates in human therapeutics segment. 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 KYPROLIS (carfilzomib), Vectibix (panitumumab), Nplate (romiplostim), Repatha (evolocumab), BLINCYTO (blinatumomab), IMLYGIC (talimogene laherparepvec) and Corlanor (ivabradine).
Want to see what other hedge funds are holding AMGN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Amgen Inc. (NASDAQ:AMGN).
What are top analysts saying about Amgen Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Amgen Inc. and related companies.