Quantitative Investment Management LLC Reduces Position in Amgen (AMGN)

Quantitative Investment Management LLC decreased its stake in Amgen (NASDAQ:AMGN) by 96.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,400 shares of the medical research company’s stock after selling 171,100 shares during the period. Quantitative Investment Management LLC’s holdings in Amgen were worth $1,112,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the stock. South Texas Money Management Ltd. raised its stake in shares of Amgen by 0.7% during the second quarter. South Texas Money Management Ltd. now owns 3,223 shares of the medical research company’s stock valued at $555,000 after acquiring an additional 22 shares during the last quarter. Glenview Trust Co raised its stake in shares of Amgen by 0.4% during the second quarter. Glenview Trust Co now owns 6,137 shares of the medical research company’s stock valued at $1,057,000 after acquiring an additional 25 shares during the last quarter. Roberts Glore & Co. Inc. IL raised its stake in Amgen by 0.4% during the second quarter. Roberts Glore & Co. Inc. IL now owns 7,425 shares of the medical research company’s stock worth $1,279,000 after buying an additional 27 shares during the last quarter. Salem Investment Counselors Inc. raised its stake in Amgen by 4.7% during the second quarter. Salem Investment Counselors Inc. now owns 809 shares of the medical research company’s stock worth $139,000 after buying an additional 36 shares during the last quarter. Finally, Keel Point LLC raised its stake in Amgen by 1.2% during the second quarter. Keel Point LLC now owns 3,509 shares of the medical research company’s stock worth $604,000 after buying an additional 43 shares during the last quarter. 79.54% of the stock is owned by institutional investors and hedge funds.

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A number of brokerages recently weighed in on AMGN. ValuEngine downgraded shares of Amgen from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. TheStreet downgraded shares of Amgen from a “b-” rating to a “c+” rating in a research note on Wednesday, April 11th. Zacks Investment Research downgraded shares of Amgen from a “buy” rating to a “hold” rating in a research note on Tuesday. Barclays lowered their target price on shares of Amgen from $190.00 to $180.00 and set an “equal weight” rating for the company in a research note on Thursday, April 5th. Finally, Oppenheimer set a $205.00 target price on shares of Amgen and gave the stock a “buy” rating in a research note on Friday, January 5th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and ten have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $190.57.

In other news, EVP Sean E. Harper sold 1,525 shares of Amgen stock in a transaction dated Friday, March 16th. The shares were sold at an average price of $189.75, for a total transaction of $289,368.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold 4,575 shares of company stock valued at $818,330 over the last quarter. Corporate insiders own 0.19% of the company’s stock.

NASDAQ:AMGN opened at $172.93 on Friday. The company has a quick ratio of 5.17, a current ratio of 5.49 and a debt-to-equity ratio of 1.35. The firm has a market capitalization of $116,867.15, a price-to-earnings ratio of 13.75, a P/E/G ratio of 2.14 and a beta of 1.36. Amgen has a 12 month low of $152.16 and a 12 month high of $201.23.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 8th. Stockholders of record on Thursday, May 17th will be issued a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date is Wednesday, May 16th. Amgen’s dividend payout ratio is currently 41.97%.

Amgen declared that its Board of Directors has initiated a share repurchase plan on Thursday, February 1st that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the medical research company to repurchase 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.

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About Amgen

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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