Successful Portfolios LLC lifted its position in shares of Amgen, Inc. (NASDAQ:AMGN) by 4.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,775 shares of the medical research company’s stock after purchasing an additional 81 shares during the quarter. Successful Portfolios LLC’s holdings in Amgen were worth $343,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Beutel Goodman & Co Ltd. grew its position in shares of Amgen by 9.9% during the first quarter. Beutel Goodman & Co Ltd. now owns 731,369 shares of the medical research company’s stock worth $103,973,000 after buying an additional 65,821 shares in the last quarter. Harrington Investments INC lifted its stake in Amgen by 1.5% in the first quarter. Harrington Investments INC now owns 11,890 shares of the medical research company’s stock valued at $2,259,000 after buying an additional 176 shares during the last quarter. Spinnaker Trust lifted its stake in Amgen by 1.5% in the first quarter. Spinnaker Trust now owns 9,993 shares of the medical research company’s stock valued at $1,898,000 after buying an additional 143 shares during the last quarter. Osborn Williams & Donohoe LLC lifted its stake in Amgen by 18.5% in the first quarter. Osborn Williams & Donohoe LLC now owns 30,054 shares of the medical research company’s stock valued at $5,774,000 after buying an additional 4,695 shares during the last quarter. Finally, Manchester Financial Inc. lifted its stake in Amgen by 19.5% in the first quarter. Manchester Financial Inc. now owns 5,358 shares of the medical research company’s stock valued at $1,018,000 after buying an additional 875 shares during the last quarter. 76.24% of the stock is currently owned by institutional investors and hedge funds.
Amgen stock traded up $2.12 during trading hours on Friday, hitting $200.80. The stock had a trading volume of 2,367,190 shares, compared to its average volume of 2,465,687. The company has a debt-to-equity ratio of 2.58, a current ratio of 2.89 and a quick ratio of 2.60. The stock has a market capitalization of $117.59 billion, a price-to-earnings ratio of 13.94, a PEG ratio of 2.55 and a beta of 1.11. Amgen, Inc. has a 1-year low of $166.30 and a 1-year high of $211.90. The stock’s fifty day moving average is $199.57 and its two-hundred day moving average is $186.20.
Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, July 30th. The medical research company reported $3.97 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.58 by $0.39. The company had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.67 billion. Amgen had a return on equity of 76.17% and a net margin of 33.78%. Amgen’s revenue was down 3.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.83 earnings per share. As a group, sell-side analysts anticipate that Amgen, Inc. will post 14.31 EPS for the current year.
Several equities research analysts have recently commented on AMGN shares. Oppenheimer set a $240.00 price target on Amgen and gave the stock a “buy” rating in a research note on Monday, September 9th. Goldman Sachs Group set a $243.00 price objective on Amgen and gave the stock a “buy” rating in a research report on Monday, September 30th. Cantor Fitzgerald set a $230.00 price objective on Amgen and gave the stock a “hold” rating in a research report on Monday, September 30th. Evercore ISI reiterated a “hold” rating on shares of Amgen in a research report on Sunday, August 11th. Finally, Credit Suisse Group reiterated an “outperform” rating and issued a $225.00 price objective (up previously from $202.00) on shares of Amgen in a research report on Friday, August 16th. Eleven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $217.41.
In other Amgen news, Director Ronald D. Sugar sold 2,000 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $193.58, for a total value of $387,160.00. Following the sale, the director now owns 16,436 shares of the company’s stock, valued at $3,181,680.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director R Sanders Williams sold 425 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $183.04, for a total value of $77,792.00. Following the completion of the sale, the director now directly owns 16,336 shares in the company, valued at approximately $2,990,141.44. The disclosure for this sale can be found here. Insiders sold 17,851 shares of company stock worth $3,671,900 in the last three months. 0.25% of the stock is owned by corporate insiders.
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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