Lincoln Capital Corp increased its position in Amgen, Inc. (NASDAQ:AMGN) by 3.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,248 shares of the medical research company’s stock after acquiring an additional 765 shares during the period. Amgen makes up about 3.6% of Lincoln Capital Corp’s portfolio, making the stock its 12th biggest holding. Lincoln Capital Corp’s holdings in Amgen were worth $4,305,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Nuveen Asset Management LLC raised its stake in shares of Amgen by 1,334.9% during the 2nd quarter. Nuveen Asset Management LLC now owns 4,942,807 shares of the medical research company’s stock valued at $910,860,000 after buying an additional 4,598,329 shares during the last quarter. Thoroughbred Financial Services LLC raised its stake in shares of Amgen by 19,447.3% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 1,805,392 shares of the medical research company’s stock valued at $180,539,000 after buying an additional 1,796,156 shares during the last quarter. BlackRock Inc. raised its stake in shares of Amgen by 3.4% during the 2nd quarter. BlackRock Inc. now owns 47,717,316 shares of the medical research company’s stock valued at $8,793,346,000 after buying an additional 1,585,911 shares during the last quarter. Ruffer LLP purchased a new position in shares of Amgen during the 2nd quarter valued at about $192,788,000. Finally, Railway Pension Investments Ltd raised its stake in shares of Amgen by 158.2% during the 3rd quarter. Railway Pension Investments Ltd now owns 651,796 shares of the medical research company’s stock valued at $126,129,000 after buying an additional 399,317 shares during the last quarter. Institutional investors own 76.33% of the company’s stock.
A number of research firms have weighed in on AMGN. JPMorgan Chase & Co. reiterated a “hold” rating on shares of Amgen in a research note on Monday, September 30th. Piper Jaffray Companies lifted their price objective on Amgen from $210.00 to $218.00 and gave the company an “overweight” rating in a research note on Monday, August 26th. Citigroup reiterated a “buy” rating on shares of Amgen in a research note on Monday, August 12th. Cowen set a $231.00 price objective on Amgen and gave the company a “buy” rating in a research note on Sunday, September 29th. Finally, BMO Capital Markets set a $240.00 price objective on Amgen and gave the company a “buy” rating in a research note on Monday, September 30th. Ten research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $219.56.
Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, October 29th. The medical research company reported $3.66 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.53 by $0.13. The business had revenue of $5.74 billion for the quarter, compared to analysts’ expectations of $5.63 billion. Amgen had a return on equity of 80.26% and a net margin of 34.48%. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.69 EPS. On average, equities research analysts forecast that Amgen, Inc. will post 14.44 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be given a dividend of $1.45 per share. This represents a $5.80 annualized dividend and a dividend yield of 2.62%. The ex-dividend date of this dividend is Thursday, November 14th. Amgen’s payout ratio is presently 40.28%.
In other news, SVP Cynthia M. Patton sold 13,426 shares of Amgen stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $208.07, for a total transaction of $2,793,547.82. Following the sale, the senior vice president now owns 32,648 shares of the company’s stock, valued at approximately $6,793,069.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Ronald D. Sugar sold 2,000 shares of Amgen stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $206.70, for a total transaction of $413,400.00. Following the sale, the director now directly owns 16,336 shares in the company, valued at approximately $3,376,651.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 17,851 shares of company stock worth $3,685,674. Corporate insiders own 0.25% of the company’s stock.
Amgen Company Profile
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, and neuroscience. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Aranesp to treat anemia; Xgeva for skeletal-related events prevention; Sensipar/Mimpara products to treat sHPT in chronic kidney disease; and EPOGEN to treat a lower-than-normal number of red blood cells.
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