Lord Abbett & CO. LLC Has $46.37 Million Holdings in Amgen, Inc. (AMGN)

Lord Abbett & CO. LLC trimmed its holdings in shares of Amgen, Inc. (NASDAQ:AMGN) by 15.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 238,218 shares of the medical research company’s stock after selling 44,736 shares during the quarter. Lord Abbett & CO. LLC’s holdings in Amgen were worth $46,374,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. Ruggie Capital Group boosted its stake in shares of Amgen by 297.1% in the fourth quarter. Ruggie Capital Group now owns 135 shares of the medical research company’s stock worth $26,000 after buying an additional 101 shares during the last quarter. Arlington Partners LLC boosted its stake in shares of Amgen by 86.7% in the fourth quarter. Arlington Partners LLC now owns 140 shares of the medical research company’s stock worth $27,000 after buying an additional 65 shares during the last quarter. Massey Quick Simon & CO. LLC boosted its stake in shares of Amgen by 710.5% in the fourth quarter. Massey Quick Simon & CO. LLC now owns 154 shares of the medical research company’s stock worth $30,000 after buying an additional 135 shares during the last quarter. Next Capital Management LLC purchased a new stake in shares of Amgen in the fourth quarter worth about $33,000. Finally, Essex Investment Management Co. LLC purchased a new stake in shares of Amgen in the fourth quarter worth about $39,000. Hedge funds and other institutional investors own 80.00% of the company’s stock.

In other Amgen news, Director Ronald D. Sugar sold 2,000 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $175.73, for a total transaction of $351,460.00. Following the completion of the transaction, the director now owns 15,092 shares of the company’s stock, valued at $2,652,117.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 8,000 shares of company stock valued at $1,495,580 in the last three months. Insiders own 0.25% of the company’s stock.

AMGN has been the topic of a number of recent research reports. Cowen restated a “buy” rating and issued a $234.00 target price on shares of Amgen in a research note on Tuesday, February 26th. Zacks Investment Research upgraded Amgen from a “hold” rating to a “buy” rating and set a $225.00 target price on the stock in a research note on Monday, January 14th. Goldman Sachs Group restated a “buy” rating and issued a $232.00 target price on shares of Amgen in a research note on Thursday, January 17th. Mizuho restated a “buy” rating and issued a $211.00 target price on shares of Amgen in a research note on Wednesday, February 13th. Finally, BidaskClub downgraded Amgen from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, January 29th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $208.84.

NASDAQ AMGN traded up $0.81 during trading hours on Friday, reaching $177.31. The company’s stock had a trading volume of 2,833,642 shares, compared to its average volume of 3,067,257. Amgen, Inc. has a 1-year low of $165.22 and a 1-year high of $210.19. The stock has a market capitalization of $109.21 billion, a price-to-earnings ratio of 12.31, a PEG ratio of 2.20 and a beta of 1.15. The company has a current ratio of 2.79, a quick ratio of 2.57 and a debt-to-equity ratio of 2.36.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, April 30th. The medical research company reported $3.56 EPS for the quarter, beating analysts’ consensus estimates of $3.45 by $0.11. Amgen had a return on equity of 67.08% and a net margin of 34.00%. The business had revenue of $5.56 billion during the quarter, compared to analysts’ expectations of $5.55 billion. During the same quarter in the prior year, the firm earned $3.47 earnings per share. The business’s revenue was up .1% compared to the same quarter last year. Equities analysts predict that Amgen, Inc. will post 13.95 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be issued a dividend of $1.45 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $5.80 dividend on an annualized basis and a dividend yield of 3.27%. Amgen’s payout ratio is currently 40.28%.

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Amgen 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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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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