Iat Reinsurance Co. LTD. lessened its holdings in Amgen, Inc. (NASDAQ:AMGN) by 35.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 92,500 shares of the medical research company’s stock after selling 50,000 shares during the quarter. Amgen accounts for about 5.3% of Iat Reinsurance Co. LTD.’s holdings, making the stock its 4th biggest position. Iat Reinsurance Co. LTD.’s holdings in Amgen were worth $18,753,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AMGN. Salomon & Ludwin LLC boosted its position in shares of Amgen by 125.0% during the 4th quarter. Salomon & Ludwin LLC now owns 108 shares of the medical research company’s stock worth $26,000 after purchasing an additional 60 shares in the last quarter. Savior LLC acquired a new stake in shares of Amgen in the fourth quarter valued at about $34,000. CLS Investments LLC lifted its stake in shares of Amgen by 175.4% in the fourth quarter. CLS Investments LLC now owns 157 shares of the medical research company’s stock valued at $38,000 after purchasing an additional 100 shares during the period. Sageworth Trust Co purchased a new stake in Amgen during the fourth quarter worth about $42,000. Finally, Altshuler Shaham Ltd grew its position in Amgen by 273.9% during the fourth quarter. Altshuler Shaham Ltd now owns 172 shares of the medical research company’s stock worth $42,000 after buying an additional 126 shares during the period. Institutional investors own 76.41% of the company’s stock.
AMGN has been the subject of a number of research reports. Morgan Stanley lifted their price target on shares of Amgen from $267.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. BidaskClub raised Amgen from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. Robert W. Baird lowered Amgen from a “neutral” rating to an “underperform” rating and upped their target price for the company from $173.00 to $185.00 in a report on Friday, January 31st. Wells Fargo & Co raised their price target on Amgen from $220.00 to $237.00 and gave the company an “equal weight” rating in a research report on Friday, May 1st. Finally, Zacks Investment Research upgraded shares of Amgen from a “hold” rating to a “buy” rating and set a $240.00 price objective on the stock in a research report on Wednesday, April 15th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seventeen have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $244.65.
Amgen (NASDAQ:AMGN) last released its earnings results on Thursday, April 30th. The medical research company reported $4.17 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.70 by $0.47. Amgen had a return on equity of 90.75% and a net margin of 32.03%. The firm had revenue of $6.16 billion during the quarter, compared to analyst estimates of $6.01 billion. During the same period in the prior year, the firm posted $3.56 earnings per share. The business’s quarterly revenue was up 10.9% compared to the same quarter last year. As a group, analysts anticipate that Amgen, Inc. will post 15.58 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 8th. Stockholders of record on Monday, May 18th will be issued a dividend of $1.60 per share. The ex-dividend date is Friday, May 15th. This represents a $6.40 annualized dividend and a dividend yield of 2.83%. Amgen’s payout ratio is currently 43.18%.
In related news, Director R Sanders Williams sold 425 shares of the stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $237.31, for a total value of $100,856.75. Following the transaction, the director now directly owns 5,834 shares of the company’s stock, valued at approximately $1,384,466.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ronald D. Sugar sold 1,000 shares of Amgen stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $229.27, for a total value of $229,270.00. Following the completion of the transaction, the director now owns 16,482 shares in the company, valued at approximately $3,778,828.14. The disclosure for this sale can be found here. Insiders sold 2,425 shares of company stock worth $563,477 over the last three months. 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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