Fruth Investment Management trimmed its position in shares of Amgen, Inc. (NASDAQ:AMGN) by 17.9% in the first quarter, HoldingsChannel.com reports. The fund owned 1,380 shares of the medical research company’s stock after selling 300 shares during the period. Fruth Investment Management’s holdings in Amgen were worth $262,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the stock. Ruggie Capital Group boosted its stake in shares of Amgen by 297.1% in the 4th quarter. Ruggie Capital Group now owns 135 shares of the medical research company’s stock valued at $26,000 after buying an additional 101 shares during the period. Capital Financial Planning LLC purchased a new position in shares of Amgen in the 4th quarter valued at about $27,000. Massey Quick Simon & CO. LLC boosted its stake in shares of Amgen by 710.5% in the 4th quarter. Massey Quick Simon & CO. LLC now owns 154 shares of the medical research company’s stock valued at $30,000 after buying an additional 135 shares during the period. Next Capital Management LLC purchased a new position in shares of Amgen in the 4th quarter valued at about $33,000. Finally, Essex Investment Management Co. LLC purchased a new position in shares of Amgen in the 4th quarter valued at about $39,000. Institutional investors own 80.65% of the company’s stock.
AMGN has been the subject of several recent research reports. Zacks Investment Research upgraded Amgen from a “hold” rating to a “buy” rating and set a $217.00 price objective for the company in a research note on Friday, April 12th. Cowen reiterated a “buy” rating and issued a $234.00 price objective on shares of Amgen in a research note on Tuesday, February 26th. Cantor Fitzgerald reiterated a “hold” rating and issued a $221.00 price objective on shares of Amgen in a research note on Monday, April 1st. Mizuho set a $208.00 price objective on Amgen and gave the company a “buy” rating in a research note on Friday, April 12th. Finally, BidaskClub cut 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 issued a hold rating and nine have assigned a buy rating to the company’s stock. Amgen currently has a consensus rating of “Hold” and an average target price of $208.84.
Shares of NASDAQ AMGN opened at $169.91 on Friday. The company has a current ratio of 2.77, a quick ratio of 2.53 and a debt-to-equity ratio of 2.71. Amgen, Inc. has a fifty-two week low of $166.30 and a fifty-two week high of $210.19. The stock has a market cap of $103.64 billion, a PE ratio of 11.80, a price-to-earnings-growth ratio of 2.24 and a beta of 1.15.
Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, April 30th. The medical research company reported $3.56 earnings per share for the quarter, topping the consensus estimate of $3.45 by $0.11. Amgen had a return on equity of 71.02% and a net margin of 34.00%. The business had revenue of $5.56 billion for the quarter, compared to analyst estimates of $5.55 billion. During the same quarter last year, the company earned $3.47 EPS. The business’s quarterly revenue was up .1% on a year-over-year basis. Equities analysts forecast that Amgen, Inc. will post 13.93 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be given a dividend of $1.45 per share. This represents a $5.80 annualized dividend and a dividend yield of 3.41%. The ex-dividend date is Thursday, May 16th. Amgen’s dividend payout ratio (DPR) is presently 40.28%.
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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