Zurcher Kantonalbank Zurich Cantonalbank trimmed its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 8.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 323,561 shares of the medical research company’s stock after selling 28,907 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Amgen were worth $55,727,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the stock. Bank of New York Mellon Corp increased its position in shares of Amgen by 2.3% during the 1st quarter. Bank of New York Mellon Corp now owns 8,555,356 shares of the medical research company’s stock worth $1,403,676,000 after purchasing an additional 195,200 shares during the last quarter. Legal & General Group Plc increased its position in shares of Amgen by 2.5% during the 2nd quarter. Legal & General Group Plc now owns 3,721,359 shares of the medical research company’s stock worth $640,938,000 after purchasing an additional 90,615 shares during the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of Amgen by 2.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 2,962,595 shares of the medical research company’s stock worth $510,248,000 after purchasing an additional 67,815 shares during the last quarter. UBS Asset Management Americas Inc. grew its position in Amgen by 3.1% in the 1st quarter. UBS Asset Management Americas Inc. now owns 2,719,874 shares of the medical research company’s stock valued at $446,250,000 after acquiring an additional 81,362 shares in the last quarter. Finally, Swiss National Bank grew its position in Amgen by 26.5% in the 1st quarter. Swiss National Bank now owns 2,636,008 shares of the medical research company’s stock valued at $432,490,000 after acquiring an additional 551,600 shares in the last quarter. 78.20% of the stock is owned by hedge funds and other institutional investors.
Amgen Inc. (NASDAQ:AMGN) opened at $171.50 on Tuesday. The stock has a market capitalization of $125,110.70, a P/E ratio of 13.70, a PEG ratio of 2.50 and a beta of 1.37. 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 Inc. has a twelve month low of $138.83 and a twelve month high of $191.10.
Amgen (NASDAQ:AMGN) last released its earnings results on Wednesday, October 25th. The medical research company reported $3.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.11 by $0.16. The business had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.75 billion. Amgen had a return on equity of 29.90% and a net margin of 35.54%. The company’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.02 earnings per share. sell-side analysts forecast that Amgen Inc. will post 12.66 EPS for the current year.
Amgen declared that its Board of Directors has authorized a share buyback program on Wednesday, October 25th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the medical research company to buy shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 17th will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date is Thursday, November 16th. Amgen’s payout ratio is currently 41.63%.
AMGN has been the subject of several research reports. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and issued a $203.00 target price (up from $189.00) on shares of Amgen in a research report on Wednesday, July 26th. BMO Capital Markets downgraded Amgen from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 26th. Mizuho reaffirmed a “buy” rating and issued a $198.00 target price (up from $183.00) on shares of Amgen in a research report on Thursday, September 28th. Argus lifted their target price on Amgen from $180.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, July 27th. Finally, Deutsche Bank AG reaffirmed a “hold” rating and issued a $174.00 target price (up from $172.00) on shares of Amgen in a research report on Wednesday, July 26th. Thirteen investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $190.03.
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In other news, Director Carbonnel Francois De sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $173.61, for a total value of $694,440.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Sean E. Harper sold 1,525 shares of the company’s stock in a transaction on Monday, October 9th. The stock was sold at an average price of $185.95, for a total value of $283,573.75. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.
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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