Tocqueville Asset Management L.P. Sells 2,156 Shares of Amgen, Inc. (NASDAQ:AMGN)

Tocqueville Asset Management L.P. lowered its holdings in Amgen, Inc. (NASDAQ:AMGN) by 3.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 64,413 shares of the medical research company’s stock after selling 2,156 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Amgen were worth $11,870,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Norges Bank acquired a new position in Amgen in the fourth quarter valued at about $1,283,248,000. Thoroughbred Financial Services LLC boosted its position in Amgen by 19,447.3% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 1,805,392 shares of the medical research company’s stock worth $180,539,000 after buying an additional 1,796,156 shares during the period. Ellis Investment Partners LLC boosted its position in Amgen by 18,906.7% during the 1st quarter. Ellis Investment Partners LLC now owns 605,934 shares of the medical research company’s stock worth $605,000 after buying an additional 602,746 shares during the period. Geode Capital Management LLC boosted its position in Amgen by 5.8% during the 4th quarter. Geode Capital Management LLC now owns 8,850,224 shares of the medical research company’s stock worth $1,720,250,000 after buying an additional 482,760 shares during the period. Finally, First Trust Advisors LP boosted its position in Amgen by 37.3% during the 2nd quarter. First Trust Advisors LP now owns 1,196,708 shares of the medical research company’s stock worth $220,529,000 after buying an additional 325,404 shares during the period. 78.96% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ AMGN traded up $1.16 during trading on Tuesday, hitting $206.94. The stock had a trading volume of 2,941,513 shares, compared to its average volume of 3,179,201. Amgen, Inc. has a 12 month low of $166.30 and a 12 month high of $210.19. The company has a quick ratio of 2.60, a current ratio of 2.89 and a debt-to-equity ratio of 2.58. The firm has a market capitalization of $117.69 billion, a P/E ratio of 14.37, a PEG ratio of 2.30 and a beta of 1.19. The company’s fifty day moving average price is $182.47.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, July 30th. The medical research company reported $3.97 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.58 by $0.39. Amgen had a net margin of 33.78% and a return on equity of 76.17%. The firm had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.67 billion. During the same quarter in the prior year, the business posted $3.83 EPS. The business’s revenue was down 3.1% compared to the same quarter last year. On average, research analysts predict that Amgen, Inc. will post 14.23 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Thursday, August 15th will be issued a $1.45 dividend. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date is Wednesday, August 14th. Amgen’s dividend payout ratio (DPR) is currently 40.28%.

Several research firms recently commented on AMGN. Morgan Stanley cut their target price on shares of Amgen from $211.00 to $207.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Royal Bank of Canada restated a “hold” rating on shares of Amgen in a research report on Sunday. Evercore ISI restated a “hold” rating on shares of Amgen in a research report on Sunday. Zacks Investment Research downgraded shares of Amgen from a “buy” rating to a “hold” rating in a research report on Monday, April 15th. Finally, Mizuho restated a “buy” rating and issued a $208.00 price target on shares of Amgen in a research report on Monday, July 1st. Nine investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Amgen currently has a consensus rating of “Buy” and a consensus target price of $211.78.

In related news, Director Ronald D. Sugar sold 2,000 shares of the business’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $175.68, for a total value of $351,360.00. Following the transaction, the director now directly owns 16,219 shares of the company’s stock, valued at approximately $2,849,353.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director R Sanders Williams sold 425 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $183.04, for a total transaction of $77,792.00. Following the completion of the transaction, the director now directly owns 16,336 shares in the company, valued at $2,990,141.44. The disclosure for this sale can be found here. Insiders sold a total of 4,425 shares of company stock worth $804,312 over the last three months. 0.25% of the stock is owned by insiders.

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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