Financial Advocates Investment Management reduced its holdings in Amgen, Inc. (NASDAQ:AMGN) by 32.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,511 shares of the medical research company’s stock after selling 2,171 shares during the period. Financial Advocates Investment Management’s holdings in Amgen were worth $460,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in the stock. Oregon Public Employees Retirement Fund increased its holdings in shares of Amgen by 20,103.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 31,424,215 shares of the medical research company’s stock valued at $161,000 after acquiring an additional 31,268,677 shares during the last quarter. BlackRock Inc. grew its holdings in Amgen by 2.0% in the 4th quarter. BlackRock Inc. now owns 46,127,396 shares of the medical research company’s stock valued at $8,979,621,000 after buying an additional 906,568 shares during the last quarter. Geode Capital Management LLC grew its holdings in Amgen by 5.8% in the 4th quarter. Geode Capital Management LLC now owns 8,850,224 shares of the medical research company’s stock valued at $1,720,250,000 after buying an additional 482,760 shares during the last quarter. Epoch Investment Partners Inc. grew its holdings in Amgen by 536.5% in the 4th quarter. Epoch Investment Partners Inc. now owns 524,376 shares of the medical research company’s stock valued at $102,080,000 after buying an additional 441,995 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in Amgen by 4.7% in the 4th quarter. Northern Trust Corp now owns 9,182,050 shares of the medical research company’s stock valued at $1,787,470,000 after buying an additional 408,675 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.
In other Amgen news, Director Ronald D. Sugar sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $188.88, for a total transaction of $377,760.00. Following the transaction, the director now owns 14,988 shares of the company’s stock, valued at $2,830,933.44. The sale was disclosed in a document filed with the SEC, which is available through this link. In the last three months, insiders have sold 6,000 shares of company stock worth $1,115,580. Company insiders own 0.25% of the company’s stock.
Amgen (NASDAQ:AMGN) last issued its quarterly 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 71.02% and a net margin of 34.00%. The company had revenue of $5.56 billion for the quarter, compared to analyst estimates of $5.55 billion. During the same period in the previous year, the company posted $3.47 earnings per share. The company’s quarterly revenue was up .1% compared to the same quarter last year. Sell-side analysts forecast that Amgen, Inc. will post 13.93 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be issued a dividend of $1.45 per share. The ex-dividend date is Thursday, May 16th. This represents a $5.80 annualized dividend and a yield of 3.38%. Amgen’s payout ratio is presently 40.28%.
A number of analysts have commented on AMGN shares. BMO Capital Markets began coverage on Amgen in a research report on Thursday, March 14th. They issued an “outperform” rating and a $228.00 price objective for the company. JPMorgan Chase & Co. restated a “neutral” rating and set a $190.00 target price on shares of Amgen in a research report on Wednesday, January 30th. Mizuho set a $208.00 target price on Amgen and gave the stock a “buy” rating in a research report on Monday, April 22nd. Leerink Swann cut their target price on Amgen from $200.00 to $192.00 and set a “market perform” rating for the company in a research report on Wednesday, January 30th. Finally, Oppenheimer set a $224.00 price objective on Amgen and gave the company a “buy” rating in a research report on Sunday, January 27th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the stock. Amgen currently has a consensus rating of “Hold” and an average target price of $208.84.
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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