Pzena Investment Management LLC Boosts Position in Amgen, Inc. (NASDAQ:AMGN)

Pzena Investment Management LLC boosted its position in shares of Amgen, Inc. (NASDAQ:AMGN) by 28.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,221,320 shares of the medical research company’s stock after acquiring an additional 271,301 shares during the quarter. Pzena Investment Management LLC owned 0.20% of Amgen worth $225,065,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of AMGN. Capital Financial Planning LLC purchased a new stake in Amgen in the fourth quarter worth about $27,000. Arbor Wealth Management LLC increased its position in Amgen by 154.5% in the second quarter. Arbor Wealth Management LLC now owns 168 shares of the medical research company’s stock worth $31,000 after buying an additional 102 shares in the last quarter. C J Advisory Inc purchased a new stake in Amgen in the first quarter worth about $40,000. Clarfeld Financial Advisors LLC purchased a new stake in Amgen in the fourth quarter worth about $41,000. Finally, Ashburton Jersey Ltd purchased a new stake in Amgen in the second quarter worth about $42,000. Institutional investors own 78.96% of the company’s stock.

In other news, Director Ronald D. Sugar sold 2,000 shares of Amgen stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $187.58, for a total value of $375,160.00. Following the transaction, the director now directly owns 16,336 shares in the company, valued at approximately $3,064,306.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director R Sanders Williams sold 425 shares of Amgen stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $183.04, for a total value of $77,792.00. Following the completion of the transaction, the director now owns 16,336 shares in the company, valued at $2,990,141.44. The disclosure for this sale can be found here. Insiders have sold a total of 4,425 shares of company stock worth $804,312 over the last 90 days. 0.25% of the stock is currently owned by company insiders.

Several research firms recently issued reports on AMGN. BidaskClub upgraded Amgen from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Cowen reaffirmed a “buy” rating and issued a $229.00 price objective on shares of Amgen in a research note on Wednesday, May 1st. Royal Bank of Canada reaffirmed a “hold” rating on shares of Amgen in a research note on Sunday, August 11th. Wells Fargo & Co raised their price objective on Amgen from $197.00 to $202.00 and gave the company a “market perform” rating in a research note on Monday. Finally, Credit Suisse Group reaffirmed an “outperform” rating and issued a $225.00 price objective (up from $202.00) on shares of Amgen in a research note on Friday. Nine investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Amgen has an average rating of “Buy” and an average price target of $212.72.

AMGN traded up $4.94 during trading on Friday, hitting $204.25. 189,114 shares of the stock were exchanged, compared to its average volume of 3,715,693. The firm has a 50 day simple moving average of $183.54 and a 200 day simple moving average of $182.71. The firm has a market cap of $121.31 billion, a price-to-earnings ratio of 14.17, a P/E/G ratio of 2.42 and a beta of 1.19. Amgen, Inc. has a 1 year low of $166.30 and a 1 year high of $211.90. The company has a debt-to-equity ratio of 2.58, a quick ratio of 2.60 and a current ratio of 2.89.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, July 30th. The medical research company reported $3.97 EPS for the quarter, topping the consensus estimate of $3.58 by $0.39. The company had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.67 billion. Amgen had a return on equity of 76.17% and a net margin of 33.78%. Amgen’s quarterly revenue was down 3.1% on a year-over-year basis. During the same period last year, the business posted $3.83 EPS. As a group, equities analysts anticipate that Amgen, Inc. will post 14.25 earnings per share for the current fiscal year.

The company 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. The ex-dividend date is Wednesday, August 14th. This represents a $5.80 annualized dividend and a yield of 2.84%. Amgen’s payout ratio is currently 40.28%.

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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