Valley National Advisers Inc. raised its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 837.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,322 shares of the medical research company’s stock after purchasing an additional 8,328 shares during the period. Valley National Advisers Inc.’s holdings in Amgen were worth $1,606,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in AMGN. Canada Pension Plan Investment Board raised its position in Amgen by 65.7% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,706,261 shares of the medical research company’s stock valued at $293,869,000 after purchasing an additional 676,300 shares during the last quarter. Skandinaviska Enskilda Banken AB publ bought a new position in Amgen during the 1st quarter valued at approximately $110,402,000. Swiss National Bank raised its position in Amgen by 26.5% during the 1st quarter. Swiss National Bank now owns 2,636,008 shares of the medical research company’s stock valued at $432,490,000 after purchasing an additional 551,600 shares during the last quarter. Bank of Nova Scotia raised its position in Amgen by 414.4% during the 1st quarter. Bank of Nova Scotia now owns 601,862 shares of the medical research company’s stock valued at $98,747,000 after purchasing an additional 484,868 shares during the last quarter. Finally, First Eagle Investment Management LLC bought a new position in Amgen during the 2nd quarter valued at approximately $71,081,000. 78.13% of the stock is owned by institutional investors and hedge funds.
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A number of research analysts have commented on the company. Argus lowered Amgen from a “buy” rating to a “hold” rating and upped their price target for the company from $175.22 to $195.00 in a research report on Wednesday. Zacks Investment Research lowered Amgen from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. Mizuho set a $198.00 price target on Amgen and gave the company a “buy” rating in a research report on Sunday, October 29th. BMO Capital Markets reaffirmed a “market perform” rating and set a $198.00 price target on shares of Amgen in a research report on Thursday, October 26th. Finally, Morgan Stanley decreased their target price on Amgen from $196.00 to $193.00 and set an “overweight” rating for the company in a research report on Thursday, October 26th. Thirteen investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. Amgen presently has an average rating of “Buy” and an average target price of $190.03.
In other news, EVP Sean E. Harper sold 1,525 shares of the firm’s stock in a transaction on Monday, October 9th. The stock was sold at an average price of $185.95, for a total value of $283,573.75. The transaction was disclosed in a filing with the SEC, which can be accessed 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 company has a debt-to-equity ratio of 1.05, a quick ratio of 5.72 and a current ratio of 6.07. Amgen Inc. has a 52 week low of $133.64 and a 52 week high of $191.10. The company has a market capitalization of $125,902.01, a price-to-earnings ratio of 13.79, a price-to-earnings-growth ratio of 2.52 and a beta of 1.37.
Amgen (NASDAQ:AMGN) last issued its earnings results on Wednesday, October 25th. The medical research company reported $3.27 EPS for the quarter, beating the consensus estimate of $3.11 by $0.16. Amgen had a return on equity of 29.90% and a net margin of 35.54%. The business had revenue of $5.77 billion for the quarter, compared to the consensus estimate of $5.75 billion. During the same period last year, the business posted $3.02 EPS. The company’s revenue was down .7% compared to the same quarter last year. equities research analysts anticipate that Amgen Inc. will post 12.64 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 17th will be paid a dividend of $1.15 per share. The ex-dividend date is Thursday, November 16th. This represents a $4.60 annualized dividend and a yield of 2.65%. Amgen’s dividend payout ratio is 41.63%.
Amgen declared that its board has initiated a share buyback program on Wednesday, October 25th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the medical research company to purchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.
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).
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