Amgen, Inc. (AMGN) Position Lowered by First Manhattan Co.

First Manhattan Co. trimmed its stake in Amgen, Inc. (NASDAQ:AMGN) by 4.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 415,201 shares of the medical research company’s stock after selling 18,275 shares during the period. First Manhattan Co. owned approximately 0.06% of Amgen worth $77,414,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. TrimTabs Asset Management LLC boosted its stake in Amgen by 88.9% during the 1st 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 stake in Amgen during the 3rd quarter worth $108,000. Jackson Grant Investment Advisers Inc. boosted its stake in Amgen by 0.8% during the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 641 shares of the medical research company’s stock worth $110,000 after purchasing an additional 5 shares during the period. Phocas Financial Corp. acquired a new stake in Amgen during the 2nd quarter worth $110,000. Finally, Omnia Family Wealth LLC boosted its stake in Amgen by 25.3% during the 2nd quarter. Omnia Family Wealth LLC now owns 729 shares of the medical research company’s stock worth $125,000 after purchasing an additional 147 shares during the period. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages recently weighed in on AMGN. Mizuho set a $192.00 price target on shares of Amgen and gave the stock a “buy” rating in a research note on Friday, December 22nd. Citigroup cut shares of Amgen to a “neutral” rating in a research note on Monday, December 18th. Goldman Sachs Group cut shares of Amgen from a “conviction-buy” rating to a “buy” rating in a research note on Friday, December 15th. Oppenheimer set a $205.00 target price on shares of Amgen and gave the stock a “buy” rating in a research note on Tuesday, December 12th. Finally, BidaskClub upgraded shares of Amgen from a “strong sell” rating to a “sell” rating in a research note on Saturday, December 2nd. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Amgen currently has an average rating of “Hold” and an average target price of $189.94.

In other news, Director Carbonnel Francois De sold 4,000 shares of Amgen stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $173.61, for a total transaction of $694,440.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Sean E. Harper sold 1,525 shares of Amgen 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 disclosure for this sale can be found here. Insiders have 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 insiders.

Amgen, Inc. (AMGN) opened at $176.21 on Thursday. The company has a current ratio of 6.07, a quick ratio of 5.72 and a debt-to-equity ratio of 1.05. Amgen, Inc. has a twelve month low of $145.62 and a twelve month high of $191.10. The firm has a market cap of $127,910.00, a PE ratio of 15.92, a price-to-earnings-growth ratio of 2.55 and a beta of 1.36.

Amgen (NASDAQ:AMGN) last posted its earnings results on Wednesday, October 25th. The medical research company reported $3.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.11 by $0.16. Amgen had a net margin of 35.54% and a return on equity of 29.90%. The firm had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.75 billion. During the same period last year, the firm posted $3.02 EPS. The firm’s revenue for the quarter was down .7% on a year-over-year basis. equities research analysts anticipate that Amgen, Inc. will post 12.67 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 8th. Shareholders of record on Thursday, February 15th will be issued a dividend of $1.32 per share. This is an increase from Amgen’s previous quarterly dividend of $1.15. This represents a $5.28 annualized dividend and a yield of 3.00%. The ex-dividend date of this dividend is Wednesday, February 14th. Amgen’s dividend payout ratio (DPR) is 41.55%.

Amgen announced that its Board of Directors has approved a share repurchase 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 purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

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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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