Oakworth Capital Inc. decreased its holdings in Amgen, Inc. (NASDAQ:AMGN) by 27.0% during the second quarter, Holdings Channel.com reports. The firm owned 227 shares of the medical research company’s stock after selling 84 shares during the period. Oakworth Capital Inc.’s holdings in Amgen were worth $42,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the company. Capital Financial Planning LLC bought a new stake in shares of Amgen in the 4th quarter valued at approximately $27,000. Arbor Wealth Management LLC grew its stake in shares of Amgen by 154.5% in the 2nd quarter. Arbor Wealth Management LLC now owns 168 shares of the medical research company’s stock valued at $31,000 after buying an additional 102 shares in the last quarter. C J Advisory Inc bought a new stake in shares of Amgen in the 1st quarter valued at approximately $40,000. Clarfeld Financial Advisors LLC bought a new stake in shares of Amgen in the 4th quarter valued at approximately $41,000. Finally, Ashburton Jersey Ltd bought a new stake in shares of Amgen in the 2nd quarter valued at approximately $42,000. Institutional investors own 78.01% of the company’s stock.
In other news, Director R Sanders Williams sold 425 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $183.04, for a total value of $77,792.00. Following the completion of the sale, the director now directly owns 16,336 shares of the company’s stock, valued at $2,990,141.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ronald D. Sugar sold 2,000 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $175.68, for a total value of $351,360.00. Following the completion of the sale, the director now directly owns 16,219 shares of the company’s stock, valued at $2,849,353.92. The disclosure for this sale can be found here. Insiders have sold 4,425 shares of company stock valued at $804,312 in the last ninety days. Company insiders own 0.25% of the company’s stock.
Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, July 30th. The medical research company reported $3.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.58 by $0.39. The firm had revenue of $5.87 billion during the quarter, compared to analysts’ expectations of $5.67 billion. Amgen had a return on equity of 76.17% and a net margin of 33.78%. The company’s revenue was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.83 earnings per share. As a group, research analysts forecast that Amgen, Inc. will post 14.25 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Thursday, August 15th will be given a dividend of $1.45 per share. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $5.80 dividend on an annualized basis and a yield of 2.87%. Amgen’s payout ratio is currently 40.28%.
Several brokerages recently commented on AMGN. Citigroup reissued a “buy” rating on shares of Amgen in a research note on Monday, August 12th. BMO Capital Markets set a $230.00 price target on Amgen and gave the company a “buy” rating in a research note on Wednesday, July 31st. Morgan Stanley lowered their price target on Amgen from $211.00 to $207.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Oppenheimer boosted their price target on Amgen from $210.00 to $230.00 and gave the company an “outperform” rating in a research note on Tuesday, August 13th. Finally, Mizuho cut Amgen from a “buy” rating to a “neutral” rating and boosted their price target for the company from $208.00 to $212.00 in a research note on Monday. They noted that the move was a valuation call. Ten investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Amgen presently has an average rating of “Buy” and a consensus price target of $212.94.
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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