People s United Financial Inc. increased its holdings in Amgen, Inc. (NASDAQ:AMGN) by 3.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 110,093 shares of the medical research company’s stock after purchasing an additional 3,211 shares during the period. People s United Financial Inc.’s holdings in Amgen were worth $18,961,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in AMGN. First Allied Advisory Services Inc. boosted its stake in Amgen by 60.1% during the second quarter. First Allied Advisory Services Inc. now owns 38,273 shares of the medical research company’s stock worth $6,598,000 after buying an additional 14,364 shares during the period. Graham Capital Management L.P. purchased a new stake in shares of Amgen during the second quarter valued at $1,292,000. PDT Partners LLC boosted its stake in shares of Amgen by 25.1% during the second quarter. PDT Partners LLC now owns 53,869 shares of the medical research company’s stock valued at $9,278,000 after purchasing an additional 10,800 shares during the period. Hall Capital Management Co. Inc. boosted its stake in shares of Amgen by 46.0% during the second quarter. Hall Capital Management Co. Inc. now owns 3,856 shares of the medical research company’s stock valued at $664,000 after purchasing an additional 1,215 shares during the period. Finally, Arete Wealth Advisors LLC lifted its stake in Amgen by 1.9% in the second quarter. Arete Wealth Advisors LLC now owns 7,427 shares of the medical research company’s stock worth $1,279,000 after acquiring an additional 136 shares during the period. Institutional investors own 78.46% of the company’s stock.
A number of brokerages have commented on AMGN. Piper Jaffray Companies reiterated a “buy” rating on shares of Amgen in a report on Tuesday. Credit Suisse Group reiterated a “neutral” rating and issued a $186.00 target price (up previously from $177.00) on shares of Amgen in a research report on Friday, September 29th. Royal Bank of Canada started coverage on Amgen in a research report on Thursday, September 14th. They issued a “sector perform” rating and a $192.00 price objective on the stock. Morgan Stanley decreased their target price on Amgen from $196.00 to $193.00 and set an “overweight” rating on the stock in a research report on Thursday, October 26th. Finally, Zacks Investment Research raised Amgen from a “hold” rating to a “buy” rating and set a $199.00 price objective for the company in a research note on Friday, October 27th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $189.94.
In other news, Director Carbonnel Francois De sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $173.61, for a total transaction of $694,440.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Sean E. Harper sold 1,525 shares of the firm’s stock in a transaction dated 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 have sold a total of 8,575 shares of company stock worth $1,509,339 in the last three months. Corporate insiders own 0.19% of the company’s stock.
Shares of Amgen, Inc. (NASDAQ AMGN) traded up $177.00 on Tuesday, hitting $177.00. The stock had a trading volume of 2,291,800 shares, compared to its average volume of 2,630,000. The company has a quick ratio of 5.72, a current ratio of 6.07 and a debt-to-equity ratio of 1.05. The stock has a market cap of $128,490.00, a PE ratio of 15.99, a PEG ratio of 2.52 and a beta of 1.36. Amgen, Inc. has a fifty-two week low of $145.62 and a fifty-two week high of $191.10.
Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Wednesday, October 25th. The medical research company reported $3.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.11 by $0.16. The business had revenue of $5.77 billion during the quarter, compared to analysts’ expectations of $5.75 billion. Amgen had a return on equity of 29.90% and a net margin of 35.54%. The business’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter last year, the business posted $3.02 EPS. research analysts forecast that Amgen, Inc. will post 12.67 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 8th. Stockholders of record on Thursday, February 15th will be given a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a dividend yield of 2.98%. The ex-dividend date of this dividend is Wednesday, February 14th. This is a positive change from Amgen’s previous quarterly dividend of $1.15. Amgen’s dividend payout ratio (DPR) is 41.55%.
Amgen announced that its Board of Directors has authorized a stock repurchase 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 reacquire shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.
Amgen Company Profile
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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