Neuburgh Advisers LLC trimmed its stake in Amgen (NASDAQ:AMGN) by 12.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 40,018 shares of the medical research company’s stock after selling 5,786 shares during the period. Neuburgh Advisers LLC’s holdings in Amgen were worth $6,822,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of AMGN. Patten Group Inc. boosted its position in shares of Amgen by 1,151.5% during the 3rd quarter. Patten Group Inc. now owns 27,859 shares of the medical research company’s stock worth $389,000 after purchasing an additional 25,633 shares in the last quarter. LVM Capital Management Ltd. MI boosted its position in shares of Amgen by 0.9% during the 4th quarter. LVM Capital Management Ltd. MI now owns 82,987 shares of the medical research company’s stock worth $14,431,000 after purchasing an additional 780 shares in the last quarter. Pennsylvania Trust Co boosted its position in shares of Amgen by 1.0% during the 4th quarter. Pennsylvania Trust Co now owns 97,619 shares of the medical research company’s stock worth $16,976,000 after purchasing an additional 1,003 shares in the last quarter. Modera Wealth Management LLC boosted its position in shares of Amgen by 1.3% during the 4th quarter. Modera Wealth Management LLC now owns 26,252 shares of the medical research company’s stock worth $4,565,000 after purchasing an additional 331 shares in the last quarter. Finally, Sheaff Brock Investment Advisors LLC boosted its position in shares of Amgen by 18.6% during the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 43,099 shares of the medical research company’s stock worth $7,495,000 after purchasing an additional 6,753 shares in the last quarter. Hedge funds and other institutional investors own 78.43% of the company’s stock.
A number of research firms have recently issued reports on AMGN. Argus raised shares of Amgen from a “hold” rating to a “buy” rating and increased their price objective for the stock from $192.33 to $220.00 in a research report on Tuesday, January 23rd. JPMorgan Chase raised their price target on shares of Amgen from $184.00 to $189.00 and gave the company a “neutral” rating in a research report on Wednesday, January 24th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $189.00 price target on shares of Amgen in a research report on Wednesday, January 24th. Vetr cut shares of Amgen from a “hold” rating to a “sell” rating and set a $181.60 price target on the stock. in a research report on Tuesday, March 6th. Finally, Morgan Stanley dropped their price target on shares of Amgen from $204.00 to $196.00 and set an “overweight” rating on the stock in a research report on Friday, February 2nd. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and ten have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $191.70.
Shares of AMGN stock opened at $178.36 on Wednesday. The company has a quick ratio of 3.60, a current ratio of 3.88 and a debt-to-equity ratio of 2.14. Amgen has a 12-month low of $152.16 and a 12-month high of $201.23. The company has a market cap of $116.77 billion, a PE ratio of 14.18, a P/E/G ratio of 2.18 and a beta of 1.36.
Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, April 24th. The medical research company reported $3.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.24 by $0.23. Amgen had a net margin of 9.67% and a return on equity of 35.80%. The company had revenue of $5.55 billion during the quarter, compared to analyst estimates of $5.44 billion. During the same quarter last year, the business posted $3.15 EPS. Amgen’s quarterly revenue was up 1.6% compared to the same quarter last year. equities analysts forecast that Amgen will post 13.72 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 8th. Investors of record on Thursday, May 17th will be paid a $1.32 dividend. The ex-dividend date is Wednesday, May 16th. This represents a $5.28 dividend on an annualized basis and a yield of 2.96%. Amgen’s dividend payout ratio is 41.97%.
Amgen declared that its board has approved a share repurchase plan on Thursday, February 1st that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the medical research company to repurchase shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.
In related news, EVP Sean E. Harper sold 1,525 shares of Amgen stock in a transaction that occurred on Thursday, April 12th. The shares were sold at an average price of $172.68, for a total value of $263,337.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 4,575 shares of company stock valued at $818,208 over the last quarter. 0.27% of the stock is owned by company insiders.
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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