Hermes Investment Management Ltd. boosted its stake in Amgen, Inc. (NASDAQ:AMGN) by 23.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 208,979 shares of the medical research company’s stock after purchasing an additional 39,710 shares during the quarter. Hermes Investment Management Ltd.’s holdings in Amgen were worth $38,964,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AMGN. Financial Advisory Service Inc. increased its holdings in shares of Amgen by 0.3% in the second quarter. Financial Advisory Service Inc. now owns 1,974 shares of the medical research company’s stock worth $340,000 after acquiring an additional 5 shares in the last quarter. Jackson Grant Investment Advisers Inc. increased its holdings in shares of Amgen by 0.8% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 641 shares of the medical research company’s stock worth $110,000 after acquiring an additional 5 shares in the last quarter. Capital Advisors Ltd. LLC increased its holdings in shares of Amgen by 0.6% in the second quarter. Capital Advisors Ltd. LLC now owns 1,103 shares of the medical research company’s stock worth $190,000 after acquiring an additional 7 shares in the last quarter. Ballentine Partners LLC increased its holdings in shares of Amgen by 0.3% in the second quarter. Ballentine Partners LLC now owns 3,441 shares of the medical research company’s stock worth $620,000 after acquiring an additional 9 shares in the last quarter. Finally, Hudock Capital Group LLC increased its holdings in shares of Amgen by 0.5% in the second quarter. Hudock Capital Group LLC now owns 1,921 shares of the medical research company’s stock worth $330,000 after acquiring an additional 10 shares in the last quarter. Institutional investors and hedge funds own 78.62% of the company’s stock.
Amgen, Inc. (AMGN) opened at $177.04 on Monday. Amgen, Inc. has a 52-week low of $145.12 and a 52-week high of $191.10. The company has a current ratio of 6.07, a quick ratio of 5.72 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $128,515.28, a P/E ratio of 14.07, a P/E/G ratio of 2.57 and a beta of 1.36.
Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Wednesday, October 25th. The medical research company reported $3.27 EPS for the quarter, beating the consensus estimate of $3.11 by $0.16. Amgen had a return on equity of 29.90% and a net margin of 35.54%. The firm had revenue of $5.77 billion during the quarter, compared to analysts’ expectations of $5.75 billion. During the same period in the prior year, the firm posted $3.02 earnings per share. The business’s quarterly revenue was down .7% compared to the same quarter last year. equities analysts predict that Amgen, Inc. will post 12.66 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 8th. Investors of record on Thursday, February 15th will be given a dividend of $1.32 per share. The ex-dividend date of this dividend is Wednesday, February 14th. This is a boost from Amgen’s previous quarterly dividend of $1.15. This represents a $5.28 annualized dividend and a yield of 2.98%. Amgen’s dividend payout ratio is 41.63%.
Amgen announced that its board has initiated a stock repurchase plan on Wednesday, October 25th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the medical research company to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.
Several research firms have recently weighed in on AMGN. Royal Bank of Canada began coverage on Amgen in a research report on Thursday, September 14th. They set a “sector perform” rating and a $192.00 price objective for the company. Bank of America upped their price objective on Amgen to $210.00 and gave the stock a “buy” rating in a research report on Thursday, October 5th. Oppenheimer reaffirmed a “buy” rating and set a $203.00 price objective on shares of Amgen in a research report on Friday, October 6th. Mizuho reaffirmed a “buy” rating and set a $198.00 price objective on shares of Amgen in a research report on Friday, October 6th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $196.00 price objective (up from $189.00) on shares of Amgen in a research report on Friday, October 6th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $190.22.
In other Amgen news, Director Carbonnel Francois De sold 4,000 shares of the company’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 link. Also, EVP Sean E. Harper sold 1,525 shares of the company’s stock in a transaction that occurred on Monday, October 9th. The shares were 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 have sold 8,575 shares of company stock valued at $1,509,339 over the last three months. Insiders own 0.19% of the company’s stock.
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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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