River Road Asset Management LLC trimmed its position in Amgen, Inc. (NASDAQ:AMGN) by 2.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 372,360 shares of the medical research company’s stock after selling 8,084 shares during the quarter. Amgen accounts for 1.4% of River Road Asset Management LLC’s holdings, making the stock its 15th largest position. River Road Asset Management LLC owned about 512.96% of Amgen worth $69,427,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Bradley Foster & Sargent Inc. CT raised its position in shares of Amgen by 24.9% during the 3rd quarter. Bradley Foster & Sargent Inc. CT now owns 7,582 shares of the medical research company’s stock valued at $1,414,000 after buying an additional 1,510 shares in the last quarter. Swiss National Bank raised its position in shares of Amgen by 0.8% during the 3rd quarter. Swiss National Bank now owns 2,712,308 shares of the medical research company’s stock valued at $505,710,000 after buying an additional 21,400 shares in the last quarter. Sunbelt Securities Inc. raised its position in shares of Amgen by 93.3% during the 3rd quarter. Sunbelt Securities Inc. now owns 3,430 shares of the medical research company’s stock valued at $639,000 after buying an additional 1,656 shares in the last quarter. Jaffetilchin Investment Partners LLC purchased a new stake in shares of Amgen during the 3rd quarter valued at $675,000. Finally, Bank of Hawaii raised its position in shares of Amgen by 12.2% during the 3rd quarter. Bank of Hawaii now owns 15,568 shares of the medical research company’s stock valued at $2,903,000 after buying an additional 1,689 shares in the last quarter. 78.46% of the stock is owned by hedge funds and other institutional investors.
AMGN has been the topic of several research reports. BMO Capital Markets restated a “market perform” rating and set a $198.00 price objective on shares of Amgen in a research report on Thursday, October 26th. Mizuho reiterated a “buy” rating and issued a $198.00 target price (up previously from $183.00) on shares of Amgen in a research report on Thursday, September 28th. Zacks Investment Research cut shares of Amgen from a “buy” rating to a “hold” rating in a research report on Monday, October 16th. BidaskClub upgraded shares of Amgen from a “strong sell” rating to a “sell” rating in a research report on Saturday, December 2nd. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $196.00 target price (up previously from $189.00) on shares of Amgen in a research report on Friday, October 6th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and ten have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $190.15.
Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Wednesday, October 25th. The medical research company reported $3.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $5.75 billion. During the same quarter in the previous year, the company earned $3.02 earnings per share. The company’s revenue for the quarter was down .7% compared to the same quarter last year. equities research analysts expect that Amgen, Inc. will post 12.71 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 8th. Shareholders of record on Thursday, February 15th will be given a $1.32 dividend. This is a boost from Amgen’s previous quarterly dividend of $1.15. The ex-dividend date is Wednesday, February 14th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 2.89%. Amgen’s payout ratio is presently 41.55%.
Amgen announced that its Board of Directors has authorized a share repurchase plan 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 reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s management believes its stock is undervalued.
In other Amgen news, EVP Sean E. Harper sold 1,525 shares of the business’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $171.58, for a total value of $261,659.50. Following the transaction, the executive vice president now owns 57,631 shares in the company, valued at $9,888,326.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Carbonnel Francois De sold 4,000 shares of the business’s 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 disclosure for this sale can be found here. Insiders sold 7,050 shares of company stock worth $1,225,765 in the last 90 days. Corporate insiders own 0.19% of the company’s stock.
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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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