Mercer Global Advisors Inc. ADV trimmed its position in shares of Amgen Inc. (NASDAQ:AMGN) by 7.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 52,727 shares of the medical research company’s stock after selling 4,036 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Amgen were worth $12,852,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in AMGN. Regency Capital Management Inc. DE acquired a new stake in shares of Amgen during the 1st quarter worth $27,000. Maverick Capital Ltd. acquired a new stake in shares of Amgen during the 1st quarter worth $27,000. Elmwood Wealth Management Inc. acquired a new stake in shares of Amgen during the 1st quarter worth $31,000. Wolverine Asset Management LLC increased its holdings in shares of Amgen by 1,587.5% during the 1st quarter. Wolverine Asset Management LLC now owns 135 shares of the medical research company’s stock worth $33,000 after buying an additional 127 shares during the last quarter. Finally, KB Financial Partners LLC acquired a new stake in shares of Amgen during the 1st quarter worth $35,000. Institutional investors and hedge funds own 74.73% of the company’s stock.
Several analysts recently issued reports on AMGN shares. Mizuho started coverage on Amgen in a report on Friday, September 10th. They issued a “hold” rating and a $222.00 price target for the company. Morgan Stanley downgraded Amgen from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $280.00 to $251.00 in a research note on Tuesday, September 7th. Zacks Investment Research upgraded Amgen from a “sell” rating to a “hold” rating and set a $255.00 target price for the company in a research note on Tuesday, June 29th. Oppenheimer raised their target price on Amgen from $272.00 to $277.00 and gave the company an “outperform” rating in a research note on Monday, June 7th. Finally, SVB Leerink reduced their price target on shares of Amgen from $238.00 to $234.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 4th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $249.70.
Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Monday, August 2nd. The medical research company reported $4.38 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.09 by $0.29. The company had revenue of $6.53 billion for the quarter, compared to analysts’ expectations of $6.43 billion. Amgen had a return on equity of 99.85% and a net margin of 22.55%. As a group, analysts forecast that Amgen Inc. will post 16.41 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 8th. Stockholders of record on Tuesday, August 17th were issued a dividend of $1.76 per share. The ex-dividend date of this dividend was Monday, August 16th. This represents a $7.04 dividend on an annualized basis and a dividend yield of 3.25%. Amgen’s dividend payout ratio (DPR) is presently 42.41%.
Amgen, Inc is a biotechnology company, which engages in the discovery, development, manufacture and marketing of human therapeutics. Its products include the following brands: Aranesp, Aimovig, KANJINTI, EVENITY, AMGEVITA, AVSOLA, BLINCYTO, MVASI, Corlanor, Enbrel, EPOGEN, IMLYGIC, Kyprolis, Neulasta, NEUPOGEN, Nplate, Parsabiv, Prolia, Repatha, Sensipar, Vectibix, Otezla, RIABNI, and XGEVA.
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