Pasadena Private Wealth LLC acquired a new stake in Amgen Inc. (NASDAQ:AMGN – Free Report) during the second quarter, HoldingsChannel reports. The fund acquired 2,625 shares of the medical research company’s stock, valued at approximately $583,000.
Several other large investors have also recently added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC increased its holdings in shares of Amgen by 83,875.6% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 7,541,011 shares of the medical research company’s stock worth $1,980,571,000 after purchasing an additional 7,532,031 shares during the period. Norges Bank acquired a new stake in shares of Amgen during the 4th quarter worth $1,351,778,000. Envestnet Asset Management Inc. increased its position in shares of Amgen by 216.1% in the first quarter. Envestnet Asset Management Inc. now owns 2,690,718 shares of the medical research company’s stock worth $228,997,000 after purchasing an additional 1,839,455 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Amgen by 158.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,950,013 shares of the medical research company’s stock valued at $774,791,000 after purchasing an additional 1,806,456 shares in the last quarter. Finally, Morgan Stanley lifted its position in Amgen by 12.9% during the fourth quarter. Morgan Stanley now owns 13,301,365 shares of the medical research company’s stock worth $3,493,471,000 after purchasing an additional 1,523,665 shares during the period. Institutional investors own 74.44% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages have recently commented on AMGN. Credit Suisse Group dropped their target price on shares of Amgen from $220.00 to $200.00 in a research report on Wednesday, July 12th. Mizuho upped their target price on Amgen from $214.00 to $223.00 and gave the stock a “neutral” rating in a research note on Monday, August 14th. Barclays decreased their price target on Amgen from $225.00 to $210.00 in a research note on Tuesday, July 11th. Argus upped their price objective on Amgen from $260.00 to $280.00 in a research report on Monday. Finally, Oppenheimer reiterated an “outperform” rating and issued a $280.00 target price on shares of Amgen in a research report on Tuesday, July 25th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $265.44.
Insiders Place Their Bets
In related news, EVP Murdo Gordon sold 9,558 shares of the company’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $262.43, for a total transaction of $2,508,305.94. Following the sale, the executive vice president now owns 44,308 shares in the company, valued at approximately $11,627,748.44. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.46% of the company’s stock.
Amgen Trading Up 1.2 %
Shares of AMGN stock traded up $3.23 on Monday, hitting $263.95. The company had a trading volume of 531,096 shares, compared to its average volume of 2,452,225. Amgen Inc. has a twelve month low of $211.71 and a twelve month high of $296.67. The company has a debt-to-equity ratio of 8.76, a quick ratio of 2.48 and a current ratio of 2.77. The firm has a market cap of $141.19 billion, a P/E ratio of 17.80, a P/E/G ratio of 3.30 and a beta of 0.61. The stock’s 50-day moving average is $248.12 and its two-hundred day moving average is $237.72.
Amgen (NASDAQ:AMGN – Get Free Report) last released its earnings results on Thursday, August 3rd. The medical research company reported $5.00 earnings per share for the quarter, beating analysts’ consensus estimates of $4.44 by $0.56. The business had revenue of $7 billion during the quarter, compared to the consensus estimate of $6.66 billion. Amgen had a net margin of 30.02% and a return on equity of 196.60%. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.65 EPS. On average, equities research analysts anticipate that Amgen Inc. will post 18.35 earnings per share for the current fiscal year.
Amgen Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Friday, August 18th were given a dividend of $2.13 per share. The ex-dividend date was Thursday, August 17th. This represents a $8.52 dividend on an annualized basis and a yield of 3.23%. Amgen’s dividend payout ratio (DPR) is currently 57.45%.
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.
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