Spectrum Asset Management Inc. NB CA Takes $203,000 Position in Amgen, Inc. (AMGN)

Spectrum Asset Management Inc. NB CA purchased a new position in shares of Amgen, Inc. (NASDAQ:AMGN) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,090 shares of the medical research company’s stock, valued at approximately $203,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Baker Ellis Asset Management LLC bought a new position in Amgen in the 3rd quarter valued at about $108,000. Phocas Financial Corp. bought a new position in Amgen in the 2nd quarter valued at about $110,000. Jackson Grant Investment Advisers Inc. grew its position in Amgen by 0.8% in 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 in the last quarter. Omnia Family Wealth LLC grew its position in Amgen by 25.3% in 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 in the last quarter. Finally, Grove Bank & Trust grew its position in Amgen by 87.4% in the 2nd quarter. Grove Bank & Trust now owns 731 shares of the medical research company’s stock valued at $126,000 after buying an additional 341 shares in the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

Shares of Amgen, Inc. (NASDAQ AMGN) opened at $182.86 on Thursday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 5.72 and a current ratio of 6.07. Amgen, Inc. has a 52 week low of $150.38 and a 52 week high of $191.10. The company has a market cap of $132,740.00, a PE ratio of 16.52, a price-to-earnings-growth ratio of 2.60 and a beta of 1.36.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Wednesday, October 25th. The medical research company reported $3.27 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 company had revenue of $5.77 billion during the quarter, compared to analyst estimates of $5.75 billion. During the same period in the prior year, the firm earned $3.02 earnings per share. The business’s quarterly revenue was down .7% on a year-over-year basis. equities research analysts predict 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 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 dividend on an annualized basis and a yield of 2.89%. Amgen’s dividend payout ratio is currently 41.55%.

Amgen announced that its board has initiated a share repurchase program on Wednesday, October 25th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the medical research company to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

A number of brokerages recently issued reports on AMGN. Credit Suisse Group reiterated a “neutral” rating and issued a $186.00 target price (up previously from $177.00) on shares of Amgen in a research report on Friday, September 29th. Royal Bank of Canada began coverage on shares of Amgen in a report on Thursday, September 14th. They issued a “sector perform” rating and a $192.00 price target for the company. Oppenheimer set a $205.00 price target on shares of Amgen and gave the company a “buy” rating in a report on Friday, January 5th. Morgan Stanley cut their price target on shares of Amgen from $196.00 to $193.00 and set an “overweight” rating for the company in a report on Thursday, October 26th. Finally, Zacks Investment Research raised shares of 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. One equities 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. The company currently has a consensus rating of “Hold” and an average price target of $190.15.

In other news, EVP Sean E. Harper sold 1,525 shares of the stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $176.83, for a total value of $269,665.75. Following the completion of the sale, the executive vice president now directly owns 56,106 shares of the company’s stock, valued at $9,921,223.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Carbonnel Francois De sold 4,000 shares of the stock in a transaction that occurred on Wednesday, November 8th. The stock was 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 have sold 7,050 shares of company stock valued at $1,225,765 over the last ninety days. Insiders own 0.19% of the company’s stock.

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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).

Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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