Sit Investment Associates Inc. lessened its stake in Amgen, Inc. (NASDAQ:AMGN) by 18.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 80,165 shares of the medical research company’s stock after selling 18,710 shares during the quarter. Sit Investment Associates Inc.’s holdings in Amgen were worth $15,606,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also modified their holdings of AMGN. Deane Retirement Strategies Inc. grew its stake in shares of Amgen by 0.6% during the 4th quarter. Deane Retirement Strategies Inc. now owns 9,838 shares of the medical research company’s stock valued at $1,915,000 after acquiring an additional 60 shares during the period. Arlington Partners LLC boosted its stake in Amgen by 86.7% in the 4th quarter. Arlington Partners LLC now owns 140 shares of the medical research company’s stock worth $27,000 after purchasing an additional 65 shares during the period. Pure Financial Advisors Inc. raised its holdings in shares of Amgen by 8.8% during the 4th quarter. Pure Financial Advisors Inc. now owns 1,432 shares of the medical research company’s stock worth $279,000 after acquiring an additional 116 shares in the last quarter. First PREMIER Bank raised its holdings in shares of Amgen by 1.3% during the 4th quarter. First PREMIER Bank now owns 9,570 shares of the medical research company’s stock worth $1,863,000 after acquiring an additional 119 shares in the last quarter. Finally, Murphy Capital Management Inc. raised its holdings in shares of Amgen by 2.3% during the 3rd quarter. Murphy Capital Management Inc. now owns 11,285 shares of the medical research company’s stock worth $2,339,000 after acquiring an additional 254 shares in the last quarter. 76.88% of the stock is owned by institutional investors and hedge funds.
In other Amgen news, Director Tyler Jacks sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 6th. The shares were sold at an average price of $195.41, for a total value of $3,908,200.00. Following the transaction, the director now directly owns 28,979 shares of the company’s stock, valued at $5,662,786.39. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Cynthia M. Patton sold 1,777 shares of the firm’s stock in a transaction that occurred on Thursday, November 29th. The shares were sold at an average price of $202.88, for a total transaction of $360,517.76. Following the completion of the transaction, the senior vice president now directly owns 23,090 shares in the company, valued at $4,684,499.20. The disclosure for this sale can be found here. 0.27% of the stock is currently owned by corporate insiders.
Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, October 30th. The medical research company reported $3.69 EPS for the quarter, beating the Zacks’ consensus estimate of $3.45 by $0.24. The business had revenue of $5.90 billion during the quarter, compared to analyst estimates of $5.78 billion. Amgen had a net margin of 9.44% and a return on equity of 54.14%. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.27 earnings per share. As a group, sell-side analysts expect that Amgen, Inc. will post 14.24 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 8th. Shareholders of record on Friday, February 15th will be paid a dividend of $1.45 per share. This represents a $5.80 annualized dividend and a yield of 2.94%. This is a boost from Amgen’s previous quarterly dividend of $1.32. The ex-dividend date is Thursday, February 14th. Amgen’s dividend payout ratio is currently 41.97%.
Several analysts recently weighed in on the company. Zacks Investment Research upgraded Amgen from a “hold” rating to a “buy” rating and set a $225.00 price target on the stock in a report on Monday. Oppenheimer reaffirmed a “buy” rating and set a $224.00 price objective on shares of Amgen in a research report on Tuesday, October 2nd. Jefferies Financial Group reissued a “buy” rating and issued a $220.00 target price on shares of Amgen in a research report on Monday, October 1st. Citigroup upped their target price on Amgen from $200.00 to $204.00 and gave the company a “neutral” rating in a research report on Thursday, November 1st. Finally, JPMorgan Chase & Co. set a $192.00 price objective on Amgen and gave the company a “neutral” rating in a research note on Tuesday, December 4th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $205.50.
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Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, nephrology, and neuroscience. The company's products include Evenity to treat osteoporosis in postmenopausal women; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Repatha to treat coronary diseases; Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Parsabiv to treat secondary hyperparathyroidism (sHPT); and Aimovig for the prevention of migraine.
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