Pennsylvania Trust Co increased its position in Amgen, Inc. (NASDAQ:AMGN) by 1.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 97,619 shares of the medical research company’s stock after buying an additional 1,003 shares during the period. Pennsylvania Trust Co’s holdings in Amgen were worth $16,976,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of AMGN. Toronto Dominion Bank raised its position in Amgen by 11.0% in the third quarter. Toronto Dominion Bank now owns 279,280 shares of the medical research company’s stock valued at $52,066,000 after purchasing an additional 27,726 shares during the period. Welch Group LLC purchased a new position in Amgen in the second quarter valued at about $639,000. DekaBank Deutsche Girozentrale raised its position in Amgen by 2.8% in the second quarter. DekaBank Deutsche Girozentrale now owns 883,579 shares of the medical research company’s stock valued at $152,927,000 after purchasing an additional 24,219 shares during the period. Pacer Advisors Inc. raised its position in Amgen by 10.3% in the second quarter. Pacer Advisors Inc. now owns 25,378 shares of the medical research company’s stock valued at $4,371,000 after purchasing an additional 2,362 shares during the period. Finally, Teacher Retirement System of Texas raised its position in Amgen by 16.5% in the third quarter. Teacher Retirement System of Texas now owns 740,764 shares of the medical research company’s stock valued at $138,115,000 after purchasing an additional 104,871 shares during the period. 78.03% of the stock is currently owned by institutional investors and hedge funds.
Amgen, Inc. (AMGN) opened at $183.55 on Monday. The company has a market capitalization of $132,259.19, a PE ratio of 14.59, a P/E/G ratio of 2.19 and a beta of 1.42. Amgen, Inc. has a 52 week low of $152.16 and a 52 week high of $201.23. The company has a quick ratio of 5.17, a current ratio of 5.49 and a debt-to-equity ratio of 1.35.
Amgen declared that its Board of Directors has approved a share buyback plan on Wednesday, October 25th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the medical research company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 8th. Investors of record on Thursday, February 15th will be paid a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a yield of 2.88%. This is an increase from Amgen’s previous quarterly dividend of $1.15. The ex-dividend date is Wednesday, February 14th. Amgen’s dividend payout ratio (DPR) is 205.45%.
In related news, EVP Sean E. Harper sold 1,525 shares of Amgen stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $174.18, for a total value of $265,624.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 4,575 shares of company stock valued at $818,361 over the last quarter. Insiders own 0.19% of the company’s stock.
Several research analysts have commented on the company. Argus raised Amgen from a “hold” rating to a “buy” rating and raised their price objective for the company from $192.33 to $220.00 in a research report on Tuesday, January 23rd. Royal Bank of Canada reissued a “hold” rating and issued a $189.00 price objective on shares of Amgen in a research report on Wednesday, January 24th. JPMorgan Chase & Co. raised their price objective on Amgen from $184.00 to $189.00 and gave the company a “neutral” rating in a research report on Wednesday, January 24th. BMO Capital Markets raised their price objective on Amgen from $192.00 to $202.00 and gave the company a “market perform” rating in a research report on Friday, February 2nd. Finally, Piper Jaffray Companies dropped their target price on Amgen from $194.00 to $190.00 and set an “overweight” rating on the stock in a research report on Friday, February 2nd. Sixteen analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $191.84.
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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).
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