Brown Brothers Harriman & Co. raised its position in Amgen Inc. (NASDAQ:AMGN – Get Rating) by 0.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,055 shares of the medical research company’s stock after purchasing an additional 152 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Amgen were worth $4,124,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in the company. Norges Bank acquired a new position in Amgen in the 4th quarter valued at approximately $1,138,930,000. BlackRock Inc. increased its holdings in Amgen by 2.1% in the fourth quarter. BlackRock Inc. now owns 50,046,345 shares of the medical research company’s stock valued at $11,258,926,000 after purchasing an additional 1,032,929 shares during the period. Renaissance Technologies LLC raised its position in Amgen by 625.6% during the 4th quarter. Renaissance Technologies LLC now owns 1,101,853 shares of the medical research company’s stock worth $247,884,000 after purchasing an additional 950,008 shares during the last quarter. Aaron Wealth Advisors LLC lifted its holdings in Amgen by 24,993.2% during the 1st quarter. Aaron Wealth Advisors LLC now owns 852,415 shares of the medical research company’s stock worth $3,525,000 after buying an additional 849,018 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of Amgen by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 47,329,045 shares of the medical research company’s stock valued at $11,445,110,000 after buying an additional 668,036 shares during the last quarter. 77.14% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Amgen
In other news, Director R Sanders Williams sold 200 shares of the stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $249.96, for a total value of $49,992.00. Following the completion of the sale, the director now directly owns 5,301 shares of the company’s stock, valued at $1,325,037.96. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Amgen news, Director R Sanders Williams sold 200 shares of Amgen stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $249.96, for a total transaction of $49,992.00. Following the transaction, the director now directly owns 5,301 shares of the company’s stock, valued at approximately $1,325,037.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert Eckert sold 6,600 shares of the company’s stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $249.00, for a total transaction of $1,643,400.00. Following the completion of the sale, the director now owns 21,184 shares of the company’s stock, valued at approximately $5,274,816. The disclosure for this sale can be found here. Company insiders own 0.46% of the company’s stock.
Amgen Trading Up 0.3 %
Amgen (NASDAQ:AMGN – Get Rating) last announced its quarterly earnings results on Thursday, August 4th. The medical research company reported $4.65 EPS for the quarter, beating analysts’ consensus estimates of $4.40 by $0.25. Amgen had a net margin of 24.92% and a return on equity of 218.34%. The business had revenue of $6.59 billion during the quarter, compared to analyst estimates of $6.53 billion. During the same quarter in the previous year, the business posted $4.38 EPS. Amgen’s quarterly revenue was up 1.0% on a year-over-year basis. As a group, equities analysts expect that Amgen Inc. will post 17.45 earnings per share for the current fiscal year.
Amgen Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 8th. Investors of record on Thursday, August 18th were given a $1.94 dividend. The ex-dividend date of this dividend was Wednesday, August 17th. This represents a $7.76 annualized dividend and a yield of 3.16%. Amgen’s payout ratio is 65.76%.
Analysts Set New Price Targets
AMGN has been the subject of a number of analyst reports. StockNews.com downgraded Amgen from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 8th. Piper Sandler boosted their price target on shares of Amgen from $260.00 to $265.00 and gave the stock an “overweight” rating in a research report on Friday, August 5th. Royal Bank of Canada increased their price objective on shares of Amgen from $224.00 to $236.00 in a research report on Friday, August 5th. Morgan Stanley boosted their target price on shares of Amgen from $239.00 to $253.00 and gave the company an “equal weight” rating in a report on Friday, July 15th. Finally, TheStreet upgraded Amgen from a “c+” rating to a “b” rating in a report on Monday, August 15th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Amgen presently has an average rating of “Hold” and an average target price of $245.14.
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology, and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta that reduces the chance of infection due a low white blood cell count in patients cancer; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; and Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization.
- Get a free copy of the StockNews.com research report on Amgen (AMGN)
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