Connable Office Inc. reduced its stake in shares of Amgen, Inc. (NASDAQ:AMGN) by 3.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 14,274 shares of the medical research company’s stock after selling 500 shares during the period. Connable Office Inc.’s holdings in Amgen were worth $2,661,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Toth Financial Advisory Corp lifted its stake in Amgen by 12.6% in the second quarter. Toth Financial Advisory Corp now owns 12,326 shares of the medical research company’s stock worth $2,123,000 after purchasing an additional 1,383 shares during the last quarter. McQueen Ball & Associates Inc. lifted its stake in Amgen by 1.7% in the second quarter. McQueen Ball & Associates Inc. now owns 11,250 shares of the medical research company’s stock worth $1,938,000 after purchasing an additional 183 shares during the last quarter. DnB Asset Management AS lifted its stake in Amgen by 0.3% in the second quarter. DnB Asset Management AS now owns 78,866 shares of the medical research company’s stock worth $13,583,000 after purchasing an additional 200 shares during the last quarter. Triangle Securities Wealth Management lifted its stake in Amgen by 0.8% in the second quarter. Triangle Securities Wealth Management now owns 12,054 shares of the medical research company’s stock worth $2,076,000 after purchasing an additional 100 shares during the last quarter. Finally, Copper Rock Capital Partners LLC lifted its stake in Amgen by 70.9% in the second quarter. Copper Rock Capital Partners LLC now owns 3,301 shares of the medical research company’s stock worth $483,000 after purchasing an additional 1,370 shares during the last quarter. 78.46% of the stock is owned by institutional investors.
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.
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.
Amgen declared that its Board of Directors has initiated a stock 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. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
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 of this dividend is Wednesday, February 14th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 2.90%. Amgen’s payout ratio is presently 41.55%.
AMGN has been the subject of several recent research reports. 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 research note on Friday, October 27th. Bank of America boosted their price target on shares of Amgen to $210.00 and gave the stock a “buy” rating in a research note on Thursday, October 5th. Barclays boosted their price target on shares of Amgen from $180.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Friday, October 13th. Royal Bank of Canada initiated coverage on shares of Amgen in a research note on Thursday, September 14th. They issued a “sector perform” rating and a $192.00 price target for the company. Finally, Cann reissued a “buy” rating and issued a $203.00 price target on shares of Amgen in a research note on Friday, October 6th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and ten have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $190.15.
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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