Altfest L J & Co. Inc. lowered its position in Amgen, Inc. (NASDAQ:AMGN) by 3.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,057 shares of the medical research company’s stock after selling 465 shares during the quarter. Amgen accounts for approximately 1.2% of Altfest L J & Co. Inc.’s holdings, making the stock its 17th biggest holding. Altfest L J & Co. Inc.’s holdings in Amgen were worth $2,434,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the business. Baker Ellis Asset Management LLC bought a new stake in shares of Amgen during the 3rd quarter valued at about $108,000. TrimTabs Asset Management LLC grew its position in shares of Amgen by 88.9% during the 1st quarter. TrimTabs Asset Management LLC now owns 612 shares of the medical research company’s stock valued at $100,000 after buying an additional 288 shares during the last quarter. Phocas Financial Corp. bought a new stake in shares of Amgen during the 2nd quarter valued at about $110,000. Jackson Grant Investment Advisers Inc. grew its position in shares of Amgen by 0.8% during the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 641 shares of the medical research company’s stock valued at $110,000 after buying an additional 5 shares during the last quarter. Finally, Omnia Family Wealth LLC grew its position in shares of Amgen by 25.3% during the 2nd quarter. Omnia Family Wealth LLC now owns 729 shares of the medical research company’s stock valued at $125,000 after buying an additional 147 shares during the last quarter. Hedge funds and other institutional investors own 78.46% of the company’s stock.
Shares of Amgen, Inc. (AMGN) opened at $176.68 on Friday. Amgen, Inc. has a one year low of $145.12 and a one year high of $191.10. The company has a market cap of $128,250.00, a P/E ratio of 14.08, a P/E/G ratio of 2.56 and a beta of 1.36. The company has a current ratio of 6.07, a quick ratio of 5.72 and a debt-to-equity ratio of 1.05.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 8th. Investors of record on Thursday, February 15th will be paid a dividend of $1.32 per share. The ex-dividend date of this dividend is Wednesday, February 14th. This is a positive change from Amgen’s previous quarterly dividend of $1.15. This represents a $5.28 annualized dividend and a yield of 2.99%. Amgen’s dividend payout ratio is currently 41.55%.
Amgen announced that its Board of Directors has approved a stock buyback 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 reacquire shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.
AMGN has been the subject of a number of recent research reports. BMO Capital Markets reaffirmed a “market perform” rating and set a $198.00 price objective on shares of Amgen in a research report on Thursday, October 26th. Cann reaffirmed a “buy” rating on shares of Amgen in a research report on Monday, August 28th. Oppenheimer reaffirmed a “buy” rating and set a $203.00 price objective on shares of Amgen in a research report on Thursday, September 7th. Mizuho reaffirmed a “buy” rating and set a $198.00 price objective (up previously from $183.00) on shares of Amgen in a research report on Thursday, September 28th. Finally, Zacks Investment Research cut shares of Amgen from a “buy” rating to a “hold” rating in a research report on Monday, October 16th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $190.22.
In related news, Director Carbonnel Francois De sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $173.61, for a total value of $694,440.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Sean E. Harper sold 1,525 shares of the company’s stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $176.83, for a total transaction of $269,665.75. Following the completion of the sale, the executive vice president now owns 56,106 shares of the company’s stock, valued at approximately $9,921,223.98. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,575 shares of company stock valued at $1,509,339. Company insiders own 0.19% 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).
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