Parsons Capital Management Inc. RI increased its stake in shares of Amgen, Inc. (NASDAQ:AMGN) by 4.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,642 shares of the medical research company’s stock after buying an additional 873 shares during the period. Parsons Capital Management Inc. RI’s holdings in Amgen were worth $4,222,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. TrimTabs Asset Management LLC lifted its holdings in shares of Amgen by 88.9% in the first quarter. TrimTabs Asset Management LLC now owns 612 shares of the medical research company’s stock valued at $100,000 after purchasing an additional 288 shares in the last quarter. Baker Ellis Asset Management LLC purchased a new stake in shares of Amgen in the third quarter valued at about $108,000. Jackson Grant Investment Advisers Inc. lifted its holdings in shares of Amgen by 0.8% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 641 shares of the medical research company’s stock valued at $110,000 after purchasing an additional 5 shares in the last quarter. Phocas Financial Corp. purchased a new stake in shares of Amgen in the second quarter valued at about $110,000. Finally, Omnia Family Wealth LLC lifted its holdings in shares of Amgen by 25.3% in the second quarter. Omnia Family Wealth LLC now owns 729 shares of the medical research company’s stock valued at $125,000 after purchasing an additional 147 shares in the last quarter. 78.46% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Carbonnel Francois De sold 4,000 shares of the company’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $173.61, for a total value of $694,440.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Sean E. Harper sold 1,525 shares of the company’s stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $176.83, for a total transaction of $269,665.75. Following the completion of the transaction, the executive vice president now owns 56,106 shares of the company’s stock, valued at $9,921,223.98. The disclosure for this sale can be found here. Insiders sold 7,050 shares of company stock valued at $1,225,765 in the last three months. Company insiders own 0.19% of the company’s stock.
Shares of Amgen, Inc. (NASDAQ:AMGN) opened at $185.04 on Friday. Amgen, Inc. has a 52-week low of $150.38 and a 52-week high of $191.10. The stock has a market cap of $134,320.00, a price-to-earnings ratio of 16.72, a PEG ratio of 2.60 and a beta of 1.36. The company has a quick ratio of 5.72, a current ratio of 6.07 and a debt-to-equity ratio of 1.05.
Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Wednesday, October 25th. The medical research company reported $3.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.11 by $0.16. Amgen had a net margin of 35.54% and a return on equity of 29.90%. The company had revenue of $5.77 billion during the quarter, compared to analyst estimates of $5.75 billion. During the same quarter in the prior year, the business earned $3.02 earnings per share. The business’s quarterly revenue was down .7% compared to the same quarter last year. research analysts forecast that Amgen, Inc. will post 12.71 EPS for the current fiscal year.
Amgen declared that its board has approved a share buyback plan on Wednesday, October 25th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the medical research company to purchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 8th. Stockholders of record on Thursday, February 15th will be given a $1.32 dividend. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $5.28 annualized dividend and a dividend yield of 2.85%. This is a positive change from Amgen’s previous quarterly dividend of $1.15. Amgen’s dividend payout ratio is presently 41.55%.
A number of research firms have recently weighed in on AMGN. Mizuho set a $192.00 price objective on shares of Amgen and gave the company a “buy” rating in a research report on Friday, December 22nd. Zacks Investment Research lowered shares of Amgen from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. Royal Bank of Canada cut their price objective on shares of Amgen from $192.00 to $188.00 and set a “sector perform” rating for the company in a research report on Thursday, October 26th. Credit Suisse Group reissued a “neutral” rating and issued a $186.00 price objective (up previously from $177.00) on shares of Amgen in a research report on Friday, September 29th. Finally, Oppenheimer reissued a “buy” rating and issued a $205.00 price objective on shares of Amgen in a research report on Thursday, November 30th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and ten have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $190.15.
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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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