Reynders McVeigh Capital Management LLC cut its stake in shares of Amgen, Inc. (NASDAQ:AMGN) by 0.9% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 8,514 shares of the medical research company’s stock after selling 77 shares during the period. Reynders McVeigh Capital Management LLC’s holdings in Amgen were worth $1,569,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in AMGN. Norges Bank purchased a new stake in Amgen during the 4th quarter worth approximately $1,283,248,000. Thoroughbred Financial Services LLC increased its holdings 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 purchasing an additional 1,796,156 shares during the last quarter. Ruffer LLP purchased a new stake in Amgen during the 2nd quarter worth approximately $192,788,000. Ellis Investment Partners LLC increased its holdings 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 purchasing an additional 602,746 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings 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 purchasing an additional 482,760 shares during the last quarter. 78.01% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have issued reports on AMGN. Citigroup restated a “buy” rating on shares of Amgen in a report on Monday, August 12th. Morgan Stanley dropped their price objective on Amgen from $211.00 to $207.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Royal Bank of Canada boosted their price target on Amgen to $192.00 and gave the company a “sector perform” rating in a report on Wednesday. Oppenheimer boosted their price target on Amgen from $210.00 to $230.00 and gave the company an “outperform” rating in a report on Tuesday, August 13th. Finally, JPMorgan Chase & Co. reiterated a “hold” rating on shares of Amgen in a report on Friday, August 9th. Ten research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $212.94.
Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, July 30th. The medical research company reported $3.97 EPS for the quarter, topping the Zacks’ consensus estimate of $3.58 by $0.39. The firm had revenue of $5.87 billion during 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%. The firm’s revenue was down 3.1% on a year-over-year basis. During the same period in the prior year, the business earned $3.83 EPS. On average, research analysts expect that Amgen, Inc. will post 14.26 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Thursday, August 15th will be paid a dividend of $1.45 per share. The ex-dividend date is Wednesday, August 14th. This represents a $5.80 dividend on an annualized basis and a yield of 2.91%. Amgen’s payout ratio is currently 40.28%.
In related news, Director Ronald D. Sugar sold 2,000 shares of the company’s stock in a transaction on Wednesday, July 3rd. The stock was 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 in the company, valued at approximately $3,064,306.88. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director R Sanders Williams sold 425 shares of the company’s stock in a transaction 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 transaction, the director now owns 16,336 shares of the company’s stock, valued at $2,990,141.44. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,425 shares of company stock valued at $804,312. 0.25% of the stock is owned by company insiders.
Amgen Company 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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