Pictet North America Advisors SA lowered its stake in Amgen, Inc. (NASDAQ:AMGN) by 12.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,528 shares of the medical research company’s stock after selling 624 shares during the period. Pictet North America Advisors SA’s holdings in Amgen were worth $834,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of AMGN. Geode Capital Management LLC increased its position in shares of Amgen by 5.8% in the fourth 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 period. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund bought a new position in shares of Amgen in the fourth quarter worth $1,194,000. Lake Point Wealth Management bought a new position in shares of Amgen in the fourth quarter worth $253,000. Putnam FL Investment Management Co. increased its position in shares of Amgen by 143.3% in the fourth quarter. Putnam FL Investment Management Co. now owns 50,563 shares of the medical research company’s stock worth $9,843,000 after purchasing an additional 29,779 shares during the period. Finally, Bell & Brown Wealth Advisors LLC increased its position in shares of Amgen by 2.5% in the fourth quarter. Bell & Brown Wealth Advisors LLC now owns 9,223 shares of the medical research company’s stock worth $1,795,000 after purchasing an additional 225 shares during the period. Institutional investors own 78.01% of the company’s stock.
In other news, Director Ronald D. Sugar sold 2,000 shares of Amgen stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $187.58, for a total transaction of $375,160.00. Following the sale, the director now directly owns 16,336 shares of the company’s stock, valued at $3,064,306.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director R Sanders Williams sold 425 shares of Amgen stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $183.04, for a total value of $77,792.00. Following the sale, the director now directly owns 16,336 shares in the company, valued at $2,990,141.44. The disclosure for this sale can be found here. Insiders have sold 4,425 shares of company stock worth $804,312 over the last three months. Insiders own 0.25% of the company’s stock.
AMGN has been the topic of a number of recent analyst reports. Citigroup restated a “buy” rating on shares of Amgen in a research report on Monday, August 12th. Mizuho lowered Amgen from a “buy” rating to a “neutral” rating and raised their price objective for the company from $208.00 to $212.00 in a research note on Monday, August 19th. They noted that the move was a valuation call. Evercore ISI reaffirmed a “hold” rating on shares of Amgen in a research note on Sunday, August 11th. Wells Fargo & Co raised their price objective on Amgen from $197.00 to $202.00 and gave the company a “market perform” rating in a research note on Monday, August 12th. Finally, BMO Capital Markets set a $230.00 price objective on Amgen and gave the company a “buy” rating in a research note on Wednesday, July 31st. Ten analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $212.94.
Shares of AMGN stock traded down $4.34 during mid-day trading on Friday, reaching $199.08. 2,734,319 shares of the stock traded hands, compared to its average volume of 3,954,342. The stock’s fifty day simple moving average is $186.41 and its two-hundred day simple moving average is $183.47. Amgen, Inc. has a 1-year low of $166.30 and a 1-year high of $211.90. The company has a market cap of $121.99 billion, a price-to-earnings ratio of 13.83, a price-to-earnings-growth ratio of 2.45 and a beta of 1.19. The company has a quick ratio of 2.60, a current ratio of 2.89 and a debt-to-equity ratio of 2.58.
Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, July 30th. The medical research company reported $3.97 EPS for the quarter, beating the Zacks’ consensus estimate of $3.58 by $0.39. Amgen had a return on equity of 76.17% and a net margin of 33.78%. The firm had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.67 billion. During the same period last year, the firm posted $3.83 earnings per share. The business’s revenue for the quarter was down 3.1% on a year-over-year basis. On average, equities research analysts anticipate that Amgen, Inc. will post 14.26 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Thursday, August 15th will be paid a dividend of $1.45 per share. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date of this dividend is Wednesday, August 14th. Amgen’s payout ratio is 40.28%.
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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