Breiter Capital Management Inc. trimmed its position in Amgen, Inc. (NASDAQ:AMGN) by 4.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,926 shares of the medical research company’s stock after selling 254 shares during the period. Amgen makes up approximately 1.5% of Breiter Capital Management Inc.’s portfolio, making the stock its 17th biggest position. Breiter Capital Management Inc.’s holdings in Amgen were worth $1,429,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of the stock. Savior LLC bought a new stake in Amgen during the 4th quarter worth approximately $34,000. Belmont Capital LLC purchased a new position in shares of Amgen in the 4th quarter worth approximately $36,000. Balentine LLC boosted its stake in shares of Amgen by 36.1% in the 3rd quarter. Balentine LLC now owns 181 shares of the medical research company’s stock worth $35,000 after buying an additional 48 shares during the last quarter. Barnett & Company Inc. boosted its stake in shares of Amgen by 4,725.0% in the 4th quarter. Barnett & Company Inc. now owns 193 shares of the medical research company’s stock worth $47,000 after buying an additional 189 shares during the last quarter. Finally, Atwater Malick LLC purchased a new position in shares of Amgen in the 3rd quarter worth approximately $39,000. 76.78% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have recently weighed in on the company. Mizuho restated a “hold” rating and issued a $212.00 target price on shares of Amgen in a research note on Sunday, September 29th. Morgan Stanley cut their target price on Amgen from $280.00 to $277.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Leerink Swann boosted their target price on Amgen from $189.00 to $205.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. SunTrust Banks assumed coverage on Amgen in a research note on Tuesday, November 12th. They issued a “buy” rating and a $256.00 target price on the stock. Finally, Raymond James assumed coverage on Amgen in a research note on Monday, December 23rd. They issued a “market perform” rating on the stock. Twelve investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $240.11.
In related news, Director R Sanders Williams sold 425 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $215.45, for a total value of $91,566.25. Following the transaction, the director now owns 5,413 shares in the company, valued at $1,166,230.85. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Jonathan P. Graham sold 9,000 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $230.54, for a total value of $2,074,860.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,162 shares of company stock worth $4,214,030. 0.25% of the stock is owned by company insiders.
Amgen stock opened at $235.04 on Friday. Amgen, Inc. has a 12 month low of $166.30 and a 12 month high of $244.99. The company has a current ratio of 2.89, a quick ratio of 2.59 and a debt-to-equity ratio of 2.54. The business’s 50 day simple moving average is $239.17 and its 200 day simple moving average is $210.94. The company has a market cap of $140.67 billion, a price-to-earnings ratio of 18.04, a PEG ratio of 2.05 and a beta of 1.11.
Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, October 29th. The medical research company reported $3.66 EPS for the quarter, beating the consensus estimate of $3.53 by $0.13. Amgen had a return on equity of 80.26% and a net margin of 34.48%. The business had revenue of $5.74 billion for the quarter, compared to the consensus estimate of $5.63 billion. During the same quarter in the prior year, the business earned $3.69 earnings per share. Amgen’s revenue for the quarter was down 2.8% on a year-over-year basis. As a group, equities research analysts forecast that Amgen, Inc. will post 14.64 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 14th will be paid a $1.60 dividend. This is an increase from Amgen’s previous quarterly dividend of $1.45. The ex-dividend date is Thursday, February 13th. This represents a $6.40 annualized dividend and a yield of 2.72%. Amgen’s dividend payout ratio is presently 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.
Further Reading: Cost of Goods Sold (COGS)
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