BlueCrest Capital Management Ltd lowered its stake in Amgen (NASDAQ:AMGN) by 44.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 23,071 shares of the medical research company’s stock after selling 18,731 shares during the quarter. BlueCrest Capital Management Ltd’s holdings in Amgen were worth $4,012,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently bought and sold shares of the stock. South Texas Money Management Ltd. raised its holdings in Amgen by 0.7% in the 2nd quarter. South Texas Money Management Ltd. now owns 3,223 shares of the medical research company’s stock valued at $555,000 after acquiring an additional 22 shares during the last quarter. Glenview Trust Co raised its holdings in Amgen by 0.4% in the 2nd quarter. Glenview Trust Co now owns 6,137 shares of the medical research company’s stock valued at $1,057,000 after acquiring an additional 25 shares during the last quarter. Roberts Glore & Co. Inc. IL raised its holdings in Amgen by 0.4% in the 2nd quarter. Roberts Glore & Co. Inc. IL now owns 7,425 shares of the medical research company’s stock valued at $1,279,000 after acquiring an additional 27 shares during the last quarter. Salem Investment Counselors Inc. raised its holdings in Amgen by 4.7% in the 2nd 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 last quarter. Finally, Keel Point LLC raised its holdings in Amgen by 1.2% in the 2nd quarter. Keel Point LLC now owns 3,509 shares of the medical research company’s stock valued at $604,000 after acquiring an additional 43 shares during the last quarter. 79.54% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Amgen stock opened at $175.11 on Thursday. The company has a debt-to-equity ratio of 1.35, a current ratio of 5.49 and a quick ratio of 5.17. Amgen has a twelve month low of $152.16 and a twelve month high of $201.23. The firm has a market cap of $114,528.20, a P/E ratio of 13.92, a price-to-earnings-growth ratio of 2.10 and a beta of 1.36.
Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Thursday, February 1st. The medical research company reported $2.89 earnings per share for the quarter, missing analysts’ consensus estimates of $3.03 by ($0.14). Amgen had a return on equity of 30.87% and a net margin of 8.66%. The business had revenue of $5.80 billion for the quarter, compared to analysts’ expectations of $5.84 billion. During the same period last year, the company posted $2.89 earnings per share. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. sell-side analysts expect that Amgen will post 13.26 earnings per share for the current year.
Amgen announced that its Board of Directors has authorized a share repurchase program on Thursday, February 1st that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the medical research company to repurchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 8th. Investors of record on Thursday, May 17th will be given a dividend of $1.32 per share. The ex-dividend date of this dividend is Wednesday, May 16th. This represents a $5.28 dividend on an annualized basis and a yield of 3.02%. Amgen’s dividend payout ratio (DPR) is 41.97%.
In related news, EVP Sean E. Harper sold 1,525 shares of the company’s stock in a transaction on Friday, March 16th. The shares were sold at an average price of $189.75, for a total transaction of $289,368.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders have sold 4,575 shares of company stock valued at $818,330. 0.19% of the stock is owned by corporate insiders.
Several brokerages have weighed in on AMGN. Argus upgraded Amgen from a “hold” rating to a “buy” rating and boosted their price target for the company from $192.33 to $220.00 in a report on Tuesday, January 23rd. JPMorgan Chase boosted their price target on Amgen from $184.00 to $189.00 and gave the company a “neutral” rating in a report on Wednesday, January 24th. Royal Bank of Canada reiterated a “hold” rating and issued a $189.00 price target on shares of Amgen in a report on Wednesday, January 24th. Vetr downgraded Amgen from a “hold” rating to a “sell” rating and set a $181.60 price target for the company. in a report on Tuesday, March 6th. Finally, BMO Capital Markets boosted their price target on Amgen from $192.00 to $202.00 and gave the company a “market perform” rating in a report on Friday, February 2nd. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and ten have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $190.57.
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, nephrology, and neuroscience. The company's products include Evenity to treat osteoporosis in postmenopausal women; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Repatha to treat coronary diseases; Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Parsabiv to treat secondary hyperparathyroidism (sHPT); and Aimovig for the prevention of migraine.
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