Tocqueville Asset Management L.P. Raises Position in Amgen (AMGN)

Tocqueville Asset Management L.P. raised its holdings in shares of Amgen (NASDAQ:AMGN) by 0.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 79,012 shares of the medical research company’s stock after buying an additional 510 shares during the period. Tocqueville Asset Management L.P.’s holdings in Amgen were worth $13,740,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of AMGN. FMR LLC lifted its position in shares of Amgen by 4.8% in the 2nd quarter. FMR LLC now owns 56,999,572 shares of the medical research company’s stock valued at $9,817,037,000 after acquiring an additional 2,587,041 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Amgen by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 52,146,935 shares of the medical research company’s stock valued at $8,981,266,000 after acquiring an additional 489,720 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Amgen by 1.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 8,166,002 shares of the medical research company’s stock valued at $1,522,551,000 after acquiring an additional 140,117 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Amgen by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 8,110,133 shares of the medical research company’s stock valued at $1,407,552,000 after acquiring an additional 199,838 shares in the last quarter. Finally, Nordea Investment Management AB lifted its position in shares of Amgen by 12.9% in the 2nd quarter. Nordea Investment Management AB now owns 7,040,599 shares of the medical research company’s stock valued at $1,212,602,000 after acquiring an additional 806,119 shares in the last quarter. Hedge funds and other institutional investors own 79.54% of the company’s stock.

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In other news, EVP Sean E. Harper sold 1,525 shares of the stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $174.18, for a total transaction of $265,624.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last 90 days, insiders have sold 4,575 shares of company stock worth $818,330. 0.19% of the stock is currently owned by company insiders.

AMGN has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of Amgen from a “hold” rating to a “buy” rating and set a $194.00 price target for the company in a research report on Thursday, April 5th. Morgan Stanley reduced their price target on shares of Amgen from $204.00 to $196.00 and set an “overweight” rating for the company in a research report on Friday, February 2nd. Vetr upgraded shares of Amgen from a “sell” rating to a “hold” rating and set a $181.60 price target for the company in a research report on Tuesday, February 27th. Oppenheimer restated a “buy” rating and issued a $205.00 price target on shares of Amgen in a research report on Tuesday, January 30th. Finally, Piper Jaffray reiterated a “buy” rating on shares of Amgen in a research report on Tuesday, January 2nd. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and ten have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $190.57.

Shares of AMGN opened at $175.11 on Thursday. Amgen has a 12 month low of $152.16 and a 12 month high of $201.23. The firm has a market cap of $116,867.15, a PE ratio of 13.90, a price-to-earnings-growth ratio of 2.14 and a beta of 1.36. The company has a current ratio of 5.49, a quick ratio of 5.17 and a debt-to-equity ratio of 1.35.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Thursday, February 1st. The medical research company reported $2.89 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.03 by ($0.14). Amgen had a return on equity of 30.87% and a net margin of 8.66%. The business had revenue of $5.80 billion for the quarter, compared to analyst estimates of $5.84 billion. During the same quarter last year, the company earned $2.89 EPS. The business’s revenue for the quarter was down 2.7% compared to the same quarter last year. equities research analysts forecast that Amgen will post 13.28 earnings per share for the current fiscal year.

Amgen declared that its Board of Directors has approved a stock buyback program on Thursday, February 1st that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the medical research company to reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 8th. Stockholders of record on Thursday, May 17th will be paid a dividend of $1.32 per share. The ex-dividend date of this dividend is Wednesday, May 16th. This represents a $5.28 annualized dividend and a dividend yield of 3.02%. Amgen’s dividend payout ratio (DPR) is 41.97%.

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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, nephrology, and neuroscience. The company's products include Evenity to treat osteoporosis in postmenopausal women; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Repatha to treat coronary diseases; Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Parsabiv to treat secondary hyperparathyroidism (sHPT); and Aimovig for the prevention of migraine.

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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