First PREMIER Bank trimmed its position in Amgen, Inc. (NASDAQ:AMGN) by 5.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,442 shares of the medical research company’s stock after selling 443 shares during the quarter. First PREMIER Bank’s holdings in Amgen were worth $1,469,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of AMGN. Baker Ellis Asset Management LLC bought a new stake in Amgen in the third quarter valued at $108,000. Jackson Grant Investment Advisers Inc. grew its position in 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 acquiring an additional 5 shares during the period. Phocas Financial Corp. bought a new stake in Amgen in the second quarter valued at $110,000. Omnia Family Wealth LLC grew its position in 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 acquiring an additional 147 shares during the period. Finally, Salem Investment Counselors Inc. grew its position in Amgen by 4.7% in the second quarter. Salem Investment Counselors Inc. now owns 809 shares of the medical research company’s stock valued at $139,000 after acquiring an additional 36 shares during the period. Institutional investors and hedge funds own 78.95% of the company’s stock.
Shares of Amgen, Inc. (AMGN) opened at $183.55 on Friday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 5.17 and a current ratio of 5.49. The company has a market capitalization of $132,295.22, a price-to-earnings ratio of 71.42, a PEG ratio of 2.26 and a beta of 1.42. Amgen, Inc. has a 1-year low of $152.16 and a 1-year high of $201.23.
Amgen (NASDAQ:AMGN) last announced its earnings results on Thursday, February 1st. The medical research company reported $2.89 EPS for the quarter, missing the consensus estimate of $3.03 by ($0.14). The business had revenue of $5.80 billion for the quarter, compared to the consensus estimate of $5.84 billion. Amgen had a return on equity of 30.87% and a net margin of 8.66%. Amgen’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.89 EPS. research analysts expect that Amgen, Inc. will post 13.21 EPS for the current fiscal year.
Amgen declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, October 25th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the medical research company to reacquire shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 8th. Stockholders of record on Thursday, February 15th will be issued a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a dividend yield of 2.88%. The ex-dividend date is Wednesday, February 14th. This is a boost from Amgen’s previous quarterly dividend of $1.15. Amgen’s dividend payout ratio is presently 205.45%.
In other news, EVP Sean E. Harper sold 1,525 shares of the stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $176.83, for a total transaction of $269,665.75. Following the sale, the executive vice president now owns 56,106 shares in the company, valued at $9,921,223.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 4,575 shares of company stock worth $818,361 in the last 90 days. Company insiders own 0.19% of the company’s stock.
A number of analysts have weighed in on the company. Piper Jaffray Companies lowered their price target on Amgen from $194.00 to $190.00 and set an “overweight” rating on the stock in a research report on Friday, February 2nd. Atlantic Securities cut Amgen from an “overweight” rating to a “neutral” rating and set a $187.01 price target on the stock. in a research report on Monday, February 5th. BMO Capital Markets upped their price target on Amgen from $192.00 to $202.00 and gave the company a “market perform” rating in a research report on Friday, February 2nd. Morgan Stanley lowered their price target on Amgen from $204.00 to $196.00 and set an “overweight” rating on the stock in a research report on Friday, February 2nd. Finally, Mizuho upped their price target on Amgen from $192.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, February 12th. Sixteen equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $191.84.
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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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