Alethea Capital Management LLC Purchases New Position in Amgen Inc. (AMGN)

Alethea Capital Management LLC purchased a new position in shares of Amgen Inc. (NASDAQ:AMGN) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 3,102 shares of the medical research company’s stock, valued at approximately $534,000.

Other hedge funds have also modified their holdings of the company. PGGM Investments lifted its stake in shares of Amgen by 2.3% during the 2nd quarter. PGGM Investments now owns 670,936 shares of the medical research company’s stock worth $115,555,000 after acquiring an additional 15,059 shares during the last quarter. Shelton Capital Management lifted its stake in shares of Amgen by 82.7% during the 1st quarter. Shelton Capital Management now owns 108,997 shares of the medical research company’s stock worth $17,883,000 after acquiring an additional 49,354 shares during the last quarter. Greylin Investment Mangement Inc. lifted its stake in shares of Amgen by 466.9% during the 2nd quarter. Greylin Investment Mangement Inc. now owns 14,030 shares of the medical research company’s stock worth $2,416,000 after acquiring an additional 11,555 shares during the last quarter. Kelman Lazarov Inc. lifted its stake in shares of Amgen by 8.2% during the 2nd quarter. Kelman Lazarov Inc. now owns 1,580 shares of the medical research company’s stock worth $272,000 after acquiring an additional 120 shares during the last quarter. Finally, Osborne Partners Capital Management LLC lifted its stake in shares of Amgen by 0.5% during the 2nd quarter. Osborne Partners Capital Management LLC now owns 17,023 shares of the medical research company’s stock worth $2,932,000 after acquiring an additional 91 shares during the last quarter. 78.54% of the stock is owned by hedge funds and other institutional investors.

Amgen Inc. (NASDAQ AMGN) opened at $173.44 on Monday. Amgen Inc. has a one year low of $133.64 and a one year high of $191.10. The company has a debt-to-equity ratio of 1.05, a quick ratio of 5.72 and a current ratio of 6.07. The firm has a market capitalization of $125,901.93, a price-to-earnings ratio of 13.79, a P/E/G ratio of 2.52 and a beta of 1.37.

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, topping the Thomson Reuters’ 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 firm had revenue of $5.77 billion for the quarter, compared to the consensus estimate of $5.75 billion. During the same period in the previous year, the business earned $3.02 EPS. The firm’s revenue for the quarter was down .7% on a year-over-year basis. analysts predict that Amgen Inc. will post 12.64 earnings per share for the current year.

Amgen announced that its Board of Directors has approved a share buyback program on Wednesday, October 25th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the medical research company to reacquire shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s board believes its stock is 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 paid 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 yield of 2.65%. Amgen’s dividend payout ratio (DPR) is 41.63%.

A number of equities research analysts recently issued reports on AMGN shares. Cann reissued a “buy” rating and set a $203.00 price target (up from $189.00) on shares of Amgen in a research note on Wednesday, July 26th. Mizuho reissued a “buy” rating and set a $195.00 price target on shares of Amgen in a research note on Sunday, July 9th. Jefferies Group LLC reissued a “buy” rating and set a $195.00 price target on shares of Amgen in a research note on Tuesday, July 11th. Argus raised their price target on Amgen from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Thursday, July 27th. Finally, BidaskClub lowered Amgen from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Thirteen research 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 stock. Amgen currently 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 business’s stock in a transaction on Monday, October 9th. The stock was sold at an average price of $185.95, for a total transaction of $283,573.75. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.19% of the stock is owned by insiders.

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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).

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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