Rehmann Capital Advisory Group increased its position in shares of Amgen, Inc. (NASDAQ:AMGN) by 35.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,711 shares of the medical research company’s stock after purchasing an additional 1,239 shares during the quarter. Rehmann Capital Advisory Group’s holdings in Amgen were worth $878,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in AMGN. TrimTabs Asset Management LLC lifted its holdings in shares of Amgen by 88.9% during the first quarter. TrimTabs Asset Management LLC now owns 612 shares of the medical research company’s stock worth $100,000 after purchasing an additional 288 shares during the period. Baker Ellis Asset Management LLC acquired a new position in Amgen in the third quarter valued at approximately $108,000. Jackson Grant Investment Advisers Inc. lifted its holdings in Amgen by 0.8% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 641 shares of the medical research company’s stock valued at $110,000 after acquiring an additional 5 shares during the period. Phocas Financial Corp. acquired a new position in Amgen in the second quarter valued at approximately $110,000. Finally, Omnia Family Wealth LLC lifted its holdings in Amgen by 25.3% in the second quarter. Omnia Family Wealth LLC now owns 729 shares of the medical research company’s stock valued at $125,000 after acquiring an additional 147 shares during the period. 78.46% of the stock is owned by hedge funds and other institutional investors.
Amgen, Inc. (AMGN) opened at $176.09 on Wednesday. Amgen, Inc. has a 12 month low of $145.62 and a 12 month high of $191.10. The company has a market capitalization of $127,830.00, a price-to-earnings ratio of 15.91, a PEG ratio of 2.55 and a beta of 1.36. 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 announced that its Board of Directors has authorized a stock buyback program on Wednesday, October 25th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the medical research company to buy shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
The company 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. This is a positive change from Amgen’s previous quarterly dividend of $1.15. The ex-dividend date is Wednesday, February 14th. This represents a $5.28 annualized dividend and a yield of 3.00%. Amgen’s dividend payout ratio is presently 41.55%.
In related news, EVP Sean E. Harper sold 1,525 shares of the stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $185.95, for a total transaction of $283,573.75. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Carbonnel Francois De sold 4,000 shares of the company’s stock in a transaction dated 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. In the last three months, insiders have sold 8,575 shares of company stock worth $1,509,339. 0.19% of the stock is owned by corporate insiders.
A number of research analysts have issued reports on AMGN shares. Zacks Investment Research raised Amgen from a “hold” rating to a “buy” rating and set a $199.00 price target for the company in a report on Friday, October 27th. Bank of America boosted their price target on Amgen to $210.00 and gave the company a “buy” rating in a report on Thursday, October 5th. Barclays boosted their price target on Amgen from $180.00 to $190.00 and gave the company an “equal weight” rating in a report on Friday, October 13th. Oppenheimer reissued a “buy” rating and issued a $203.00 price target on shares of Amgen in a report on Thursday, September 7th. Finally, Royal Bank of Canada started coverage on Amgen in a report on Thursday, September 14th. They issued a “sector perform” rating and a $192.00 price target for the company. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, ten have issued 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 target price of $189.94.
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Amgen Company 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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