BlackRock Inc. Boosts Stake in Amgen, Inc. (AMGN)

BlackRock Inc. increased its holdings in Amgen, Inc. (NASDAQ:AMGN) by 1.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 49,451,203 shares of the medical research company’s stock after buying an additional 909,689 shares during the period. BlackRock Inc. owned about 6.78% of Amgen worth $8,516,980,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Financial Advisory Service Inc. boosted its stake in Amgen by 0.3% during the 2nd quarter. Financial Advisory Service Inc. now owns 1,974 shares of the medical research company’s stock valued at $340,000 after purchasing an additional 5 shares during the period. Jackson Grant Investment Advisers Inc. boosted its stake in Amgen by 0.8% during the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 641 shares of the medical research company’s stock valued at $110,000 after purchasing an additional 5 shares during the period. Capital Advisors Ltd. LLC boosted its stake in Amgen by 0.6% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 1,103 shares of the medical research company’s stock valued at $190,000 after purchasing an additional 7 shares during the period. Ballentine Partners LLC boosted its stake in Amgen by 0.3% during the 2nd quarter. Ballentine Partners LLC now owns 3,441 shares of the medical research company’s stock valued at $620,000 after purchasing an additional 9 shares during the period. Finally, Hudock Capital Group LLC boosted its stake in Amgen by 0.5% during the 2nd quarter. Hudock Capital Group LLC now owns 1,921 shares of the medical research company’s stock valued at $330,000 after purchasing an additional 10 shares during the period. 78.38% of the stock is owned by institutional investors and hedge funds.

In other news, EVP Sean E. Harper sold 1,525 shares of the business’s stock in a transaction that occurred on Monday, October 9th. The shares were sold at an average price of $185.95, for a total transaction of $283,573.75. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Carbonnel Francois De sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $173.61, for a total transaction of $694,440.00. The disclosure for this sale can be found here. Insiders have sold 7,050 shares of company stock worth $1,239,673 in the last 90 days. 0.19% of the stock is owned by company insiders.

Shares of Amgen, Inc. (AMGN) opened at $176.22 on Thursday. Amgen, Inc. has a 1-year low of $138.83 and a 1-year high of $191.10. The company has a current ratio of 6.07, a quick ratio of 5.72 and a debt-to-equity ratio of 1.05. The stock has a market cap of $129,712.96, a P/E ratio of 14.20, a PEG ratio of 2.59 and a beta of 1.36.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Wednesday, October 25th. The medical research company reported $3.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.11 by $0.16. Amgen had a net margin of 35.54% and a return on equity of 29.90%. The business had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.75 billion. During the same quarter in the previous year, the business earned $3.02 earnings per share. The firm’s revenue was down .7% compared to the same quarter last year. analysts forecast that Amgen, Inc. will post 12.66 EPS for the current fiscal year.

Amgen announced that its board has initiated a share buyback plan on Wednesday, October 25th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the medical research company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 17th will be issued a dividend of $1.15 per share. The ex-dividend date is Thursday, November 16th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.61%. Amgen’s dividend payout ratio is currently 41.63%.

A number of research analysts have issued reports on the stock. Credit Suisse Group reissued a “neutral” rating and set a $186.00 target price (up from $177.00) on shares of Amgen in a research note on Friday, September 29th. Royal Bank Of Canada assumed coverage on shares of Amgen in a research note on Thursday, September 14th. They set a “sector perform” rating and a $192.00 target price for the company. Mizuho reissued a “buy” rating and set a $183.00 target price (down from $195.00) on shares of Amgen in a research note on Monday, August 21st. Morgan Stanley reduced their price target on shares of Amgen from $196.00 to $193.00 and set an “overweight” rating for the company in a research note on Thursday, October 26th. Finally, Zacks Investment Research raised shares of Amgen from a “hold” rating to a “buy” rating and set a $199.00 price target for the company in a research note on Friday, October 27th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $190.22.

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Amgen Profile

Amgen Inc is a biotechnology company. The Company discovers, develops, manufactures and delivers various human therapeutics. It operates in human therapeutics segment. Its marketed products portfolio includes Neulasta (pegfilgrastim); erythropoiesis-stimulating agents (ESAs), such as Aranesp (darbepoetin alfa) and EPOGEN (epoetin alfa); Sensipar/Mimpara (cinacalcet); XGEVA (denosumab); Prolia (denosumab); NEUPOGEN (filgrastim), and other marketed products, such as KYPROLIS (carfilzomib), Vectibix (panitumumab), Nplate (romiplostim), Repatha (evolocumab), BLINCYTO (blinatumomab), IMLYGIC (talimogene laherparepvec) and Corlanor (ivabradine).

Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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