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.
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.
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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