State Board of Administration of Florida Retirement System Has $184.80 Million Stake in Amgen, Inc. (AMGN)

State Board of Administration of Florida Retirement System trimmed its holdings in shares of Amgen, Inc. (NASDAQ:AMGN) by 1.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,073,005 shares of the medical research company’s stock after selling 18,983 shares during the quarter. State Board of Administration of Florida Retirement System owned 0.15% of Amgen worth $184,804,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of AMGN. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in shares of Amgen by 3.2% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 119,433 shares of the medical research company’s stock worth $19,595,000 after acquiring an additional 3,651 shares during the period. Kornitzer Capital Management Inc. KS boosted its stake in Amgen by 70.6% during the first quarter. Kornitzer Capital Management Inc. KS now owns 38,865 shares of the medical research company’s stock valued at $6,377,000 after buying an additional 16,080 shares during the period. Alpha Omega Wealth Management LLC boosted its stake in Amgen by 19.0% during the first quarter. Alpha Omega Wealth Management LLC now owns 625 shares of the medical research company’s stock valued at $103,000 after buying an additional 100 shares during the period. Geneva Advisors LLC boosted its stake in Amgen by 3.8% during the first quarter. Geneva Advisors LLC now owns 8,327 shares of the medical research company’s stock valued at $1,366,000 after buying an additional 308 shares during the period. Finally, Biondo Investment Advisors LLC boosted its stake in Amgen by 0.8% during the first quarter. Biondo Investment Advisors LLC now owns 6,180 shares of the medical research company’s stock valued at $946,000 after buying an additional 50 shares during the period. 78.13% of the stock is owned by institutional investors.

A number of equities research analysts have weighed in on AMGN shares. Bank of America Corporation raised their price target on Amgen to $210.00 and gave the company a “buy” rating in a research report on Thursday, October 5th. Credit Suisse Group set a $177.00 price target on Amgen and gave the company a “hold” rating in a research report on Friday, July 14th. Oppenheimer Holdings, Inc. restated a “buy” rating and set a $203.00 price target on shares of Amgen in a research report on Thursday, September 7th. Barclays PLC lifted their price objective on Amgen from $180.00 to $190.00 and gave the stock an “equal weight” rating in a report on Friday, October 13th. Finally, Royal Bank Of Canada assumed coverage on Amgen in a report on Thursday, September 14th. They issued a “sector perform” rating and a $192.00 price objective on the stock. Thirteen equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $190.03.

In related news, EVP Sean E. Harper sold 1,525 shares of the firm’s stock in a transaction on Monday, October 9th. The shares were sold at an average price of $185.95, for a total transaction of $283,573.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.19% of the company’s stock.

Shares of Amgen, Inc. (NASDAQ:AMGN) opened at $173.44 on Friday. The firm has a market cap of $125.90 billion, a P/E ratio of 13.70, a price-to-earnings-growth ratio of 2.50 and a beta of 1.37. Amgen, Inc. has a one year low of $133.64 and a one year high of $191.10. The company has a quick ratio of 5.72, a current ratio of 6.07 and a debt-to-equity ratio of 1.05.

Amgen (NASDAQ:AMGN) last announced its earnings results on Wednesday, October 25th. The medical research company reported $3.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.11 by $0.16. Amgen had a net margin of 35.54% and a return on equity of 29.90%. The company had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.75 billion. During the same period last year, the firm earned $3.02 earnings per share. Amgen’s revenue was down .7% compared to the same quarter last year. equities research analysts anticipate that Amgen, Inc. will post 12.64 EPS for the current year.

Amgen declared that its board has authorized a share repurchase plan on Wednesday, October 25th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the medical research company to buy shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 17th will be issued a dividend of $1.15 per share. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $4.60 annualized dividend and a dividend yield of 2.65%. Amgen’s dividend payout ratio (DPR) is presently 41.55%.

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Amgen Profile

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).

Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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