Pinnacle Associates Ltd. lowered its stake in shares of Amgen, Inc. (NASDAQ:AMGN) by 2.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 77,491 shares of the medical research company’s stock after selling 2,274 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Amgen were worth $13,346,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Financial Advisory Service Inc. lifted its position in Amgen by 0.3% during the second quarter. Financial Advisory Service Inc. now owns 1,974 shares of the medical research company’s stock valued at $340,000 after purchasing an additional 5 shares during the period. Capital Advisors Ltd. LLC raised its position in Amgen by 0.6% in the second quarter. Capital Advisors Ltd. LLC now owns 1,103 shares of the medical research company’s stock worth $190,000 after acquiring an additional 7 shares during the period. Ballentine Partners LLC raised its position in Amgen by 0.3% in the second quarter. Ballentine Partners LLC now owns 3,441 shares of the medical research company’s stock worth $620,000 after acquiring an additional 9 shares during the period. Hudock Capital Group LLC raised its position in Amgen by 0.5% in the second quarter. Hudock Capital Group LLC now owns 1,921 shares of the medical research company’s stock worth $330,000 after acquiring an additional 10 shares during the period. Finally, Investment Partners Ltd. OH ADV increased its stake in shares of Amgen by 0.5% in the second quarter. Investment Partners Ltd. OH ADV now owns 2,192 shares of the medical research company’s stock worth $377,000 after purchasing an additional 11 shares in the last quarter. Institutional investors own 78.38% of the company’s stock.
A number of brokerages have recently issued reports on AMGN. BidaskClub raised shares of Amgen from a “strong sell” rating to a “sell” rating in a research note on Saturday. Oppenheimer restated a “buy” rating and issued a $205.00 target price on shares of Amgen in a report on Thursday, November 30th. Cann restated a “buy” rating and issued a $205.00 target price on shares of Amgen in a report on Thursday, November 30th. Argus lowered shares of Amgen from a “buy” rating to a “hold” rating and lifted their price objective for the company from $175.22 to $195.00 in a report on Wednesday, November 1st. Finally, Zacks Investment Research downgraded shares of Amgen from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $190.22.
In other news, Director Carbonnel Francois De sold 4,000 shares of Amgen stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $173.61, for a total transaction of $694,440.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Sean E. Harper sold 1,525 shares of Amgen stock in a transaction on Monday, November 13th. The stock was sold at an average price of $171.58, for a total value of $261,659.50. Following the transaction, the executive vice president now directly owns 57,631 shares of the company’s stock, valued at approximately $9,888,326.98. The disclosure for this sale can be found here. In the last three months, insiders sold 7,050 shares of company stock valued at $1,239,673. 0.19% of the stock is owned by corporate insiders.
Shares of Amgen, Inc. (NASDAQ AMGN) traded down $2.45 during trading on Wednesday, reaching $176.22. 2,510,277 shares of the company’s stock traded hands, compared to its average volume of 3,215,441. The stock has a market capitalization of $129,712.96, a price-to-earnings ratio of 14.20, a P/E/G ratio of 2.59 and a beta of 1.36. Amgen, Inc. has a one year low of $138.83 and a one year high of $191.10. The company has a debt-to-equity ratio of 1.05, a current ratio of 6.07 and a quick ratio of 5.72.
Amgen (NASDAQ:AMGN) last announced its earnings results on Wednesday, October 25th. The medical research company reported $3.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.11 by $0.16. Amgen had a net margin of 35.54% and a return on equity of 29.90%. The business had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.75 billion. During the same period last year, the firm posted $3.02 earnings per share. The company’s revenue for the quarter was down .7% compared to the same quarter last year. sell-side analysts predict that Amgen, Inc. will post 12.66 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 17th will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date is Thursday, November 16th. Amgen’s dividend payout ratio (DPR) is currently 41.63%.
Amgen announced that its board has approved a share repurchase program on Wednesday, October 25th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the medical research company to buy shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.
Amgen Inc is a biotechnology company. The Company discovers, develops, manufactures and delivers various human therapeutics. It operates in human therapeutics segment. Its marketed products portfolio includes Neulasta (pegfilgrastim); erythropoiesis-stimulating agents (ESAs), such as Aranesp (darbepoetin alfa) and EPOGEN (epoetin alfa); Sensipar/Mimpara (cinacalcet); XGEVA (denosumab); Prolia (denosumab); NEUPOGEN (filgrastim), and other marketed products, such as KYPROLIS (carfilzomib), Vectibix (panitumumab), Nplate (romiplostim), Repatha (evolocumab), BLINCYTO (blinatumomab), IMLYGIC (talimogene laherparepvec) and Corlanor (ivabradine).
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