Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Amgen, Inc. (NASDAQ:AMGN) by 11.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,782 shares of the medical research company’s stock after purchasing an additional 1,633 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in Amgen were worth $2,943,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in the stock. PGGM Investments grew its holdings 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 period. Shelton Capital Management grew its holdings 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 period. Greylin Investment Mangement Inc. boosted its position in shares of Amgen by 466.9% in the 2nd quarter. Greylin Investment Mangement Inc. now owns 14,030 shares of the medical research company’s stock worth $2,416,000 after purchasing an additional 11,555 shares in the last quarter. Kelman Lazarov Inc. boosted its position in shares of Amgen by 8.2% in the 2nd quarter. Kelman Lazarov Inc. now owns 1,580 shares of the medical research company’s stock worth $272,000 after purchasing an additional 120 shares in the last quarter. Finally, Osborne Partners Capital Management LLC boosted its position in shares of Amgen by 0.5% in 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 purchasing an additional 91 shares in the last quarter. Institutional investors own 78.46% of the company’s stock.
In other news, EVP Sean E. Harper sold 1,525 shares of the company’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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Carbonnel Francois De sold 4,000 shares of the company’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $173.61, for a total value of $694,440.00. The disclosure for this sale can be found here. Insiders sold a total of 8,575 shares of company stock valued at $1,509,339 over the last 90 days. 0.19% of the stock is currently owned by company insiders.
Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Wednesday, October 25th. The medical research company reported $3.27 earnings per share for the quarter, beating the consensus estimate of $3.11 by $0.16. The firm had revenue of $5.77 billion for the quarter, compared to analysts’ expectations of $5.75 billion. Amgen had a return on equity of 29.90% and a net margin of 35.54%. The company’s revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.02 EPS. sell-side analysts predict that Amgen, Inc. will post 12.67 earnings per share for the current fiscal year.
Amgen announced that its Board of Directors has initiated a share buyback program on Wednesday, October 25th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the medical research company to buy shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 8th. Stockholders of record on Thursday, February 15th will be paid a $1.32 dividend. This represents a $5.28 annualized dividend and a dividend yield of 2.99%. This is a positive change from Amgen’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Wednesday, February 14th. Amgen’s dividend payout ratio is 41.63%.
A number of brokerages have recently commented on AMGN. Royal Bank of Canada began coverage on Amgen in a research report on Thursday, September 14th. They issued a “sector perform” rating and a $192.00 price target on the stock. Bank of America boosted their price target on Amgen to $210.00 and gave the stock a “buy” rating in a research report on Thursday, October 5th. Oppenheimer reissued a “buy” rating and issued a $203.00 price target on shares of Amgen in a research report on Friday, October 6th. Mizuho reissued a “buy” rating and issued a $198.00 price target on shares of Amgen in a research report on Friday, October 6th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $196.00 price target (up from $189.00) on shares of Amgen in a research report on Friday, October 6th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Amgen has a consensus rating of “Hold” and a consensus target price of $189.94.
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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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