Smead Capital Management Inc. lessened its holdings in Amgen, Inc. (NASDAQ:AMGN) by 3.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 646,099 shares of the medical research company’s stock after selling 20,666 shares during the period. Amgen comprises approximately 5.7% of Smead Capital Management Inc.’s holdings, making the stock its 4th biggest holding. Smead Capital Management Inc. owned about 0.11% of Amgen worth $119,063,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Weaver Consulting Group purchased a new stake in Amgen during the 1st quarter worth $239,000. CHICAGO TRUST Co NA increased its stake in Amgen by 2.8% during the 2nd quarter. CHICAGO TRUST Co NA now owns 3,716 shares of the medical research company’s stock worth $685,000 after buying an additional 100 shares during the period. Commonwealth Bank of Australia increased its stake in Amgen by 19.7% during the 4th quarter. Commonwealth Bank of Australia now owns 66,961 shares of the medical research company’s stock worth $13,027,000 after buying an additional 11,040 shares during the period. Phocas Financial Corp. purchased a new stake in Amgen during the 4th quarter worth $117,000. Finally, Duality Advisers LP purchased a new stake in Amgen during the 4th quarter worth $3,983,000. 77.43% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts recently issued reports on the stock. Oppenheimer set a $210.00 price target on shares of Amgen and gave the stock a “buy” rating in a research note on Friday, May 24th. Zacks Investment Research downgraded shares of Amgen from a “buy” rating to a “hold” rating in a research note on Monday, April 15th. Morgan Stanley dropped their price target on shares of Amgen from $211.00 to $207.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Citigroup raised shares of Amgen from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $211.00 to $205.00 in a research note on Wednesday, May 22nd. Finally, Cowen reaffirmed a “buy” rating and set a $229.00 price target on shares of Amgen in a research note on Wednesday, May 1st. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Amgen currently has a consensus rating of “Buy” and a consensus target price of $210.41.
Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, July 30th. The medical research company reported $3.97 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.58 by $0.39. The company had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.67 billion. Amgen had a net margin of 33.78% and a return on equity of 76.17%. The firm’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same period last year, the business earned $3.83 EPS. On average, equities research analysts expect that Amgen, Inc. will post 14.23 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Thursday, August 15th will be issued a dividend of $1.45 per share. This represents a $5.80 annualized dividend and a yield of 3.15%. The ex-dividend date is Wednesday, August 14th. Amgen’s dividend payout ratio is currently 40.28%.
In other Amgen news, Director Ronald D. Sugar sold 2,000 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $187.58, for a total transaction of $375,160.00. Following the completion of the transaction, the director now directly owns 16,336 shares of the company’s stock, valued at approximately $3,064,306.88. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.25% of the stock is owned by company insiders.
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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