Hammer Asset Management LLC lessened its position in Amgen, Inc. (NASDAQ:AMGN) by 0.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 16,616 shares of the medical research company’s stock after selling 122 shares during the period. Amgen makes up 2.5% of Hammer Asset Management LLC’s investment portfolio, making the stock its 15th largest holding. Hammer Asset Management LLC’s holdings in Amgen were worth $3,062,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its stake in shares of Amgen by 5.8% in the fourth quarter. Geode Capital Management LLC now owns 8,850,224 shares of the medical research company’s stock valued at $1,720,250,000 after purchasing an additional 482,760 shares during the period. Norges Bank acquired a new stake in shares of Amgen in the fourth quarter valued at about $1,283,248,000. Nordea Investment Management AB lifted its stake in shares of Amgen by 5.0% in the first quarter. Nordea Investment Management AB now owns 4,709,467 shares of the medical research company’s stock valued at $894,700,000 after purchasing an additional 225,485 shares during the period. APG Asset Management N.V. lifted its stake in shares of Amgen by 1.5% in the fourth quarter. APG Asset Management N.V. now owns 1,883,226 shares of the medical research company’s stock valued at $320,699,000 after purchasing an additional 27,700 shares during the period. Finally, Thoroughbred Financial Services LLC lifted its stake in shares of Amgen by 19,447.3% in the second quarter. Thoroughbred Financial Services LLC now owns 1,805,392 shares of the medical research company’s stock valued at $180,539,000 after purchasing an additional 1,796,156 shares during the period. Institutional investors own 78.01% of the company’s stock.
Several analysts recently commented on AMGN shares. BMO Capital Markets set a $230.00 price objective on shares of Amgen and gave the company a “buy” rating in a research note on Wednesday, July 31st. Oppenheimer raised their target price on shares of Amgen from $210.00 to $230.00 and gave the company an “outperform” rating in a report on Tuesday, August 13th. Mizuho downgraded shares of Amgen from a “buy” rating to a “neutral” rating and raised their target price for the company from $208.00 to $212.00 in a report on Monday. They noted that the move was a valuation call. Morgan Stanley dropped their target price on shares of Amgen from $211.00 to $207.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Finally, Piper Jaffray Companies set a $210.00 target price on shares of Amgen and gave the company a “buy” rating in a report on Saturday, August 10th. Ten equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $212.94.
Shares of NASDAQ AMGN traded up $0.42 during midday trading on Thursday, reaching $204.36. 127,513 shares of the stock were exchanged, compared to its average volume of 3,903,424. The company has a market capitalization of $123.54 billion, a P/E ratio of 14.20, a P/E/G ratio of 2.42 and a beta of 1.19. Amgen, Inc. has a 52-week low of $166.30 and a 52-week high of $211.90. The company has a current ratio of 2.89, a quick ratio of 2.60 and a debt-to-equity ratio of 2.58. The stock has a 50 day moving average price of $185.85 and a 200-day moving average price of $183.32.
Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, July 30th. The medical research company reported $3.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.58 by $0.39. Amgen had a net margin of 33.78% and a return on equity of 76.17%. The firm had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.67 billion. During the same period in the previous year, the firm earned $3.83 earnings per share. Amgen’s revenue was down 3.1% compared to the same quarter last year. On average, analysts forecast that Amgen, Inc. will post 14.25 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Thursday, August 15th will be issued a $1.45 dividend. The ex-dividend date is Wednesday, August 14th. This represents a $5.80 dividend on an annualized basis and a yield of 2.84%. Amgen’s payout ratio is 40.28%.
In other Amgen news, Director Ronald D. Sugar sold 2,000 shares of Amgen stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $187.58, for a total transaction of $375,160.00. Following the transaction, the director now directly owns 16,336 shares of the company’s stock, valued at $3,064,306.88. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director R Sanders Williams sold 425 shares of Amgen stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $183.04, for a total transaction of $77,792.00. Following the transaction, the director now directly owns 16,336 shares in the company, valued at $2,990,141.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,425 shares of company stock valued at $804,312. 0.25% of the stock is owned by insiders.
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, and neuroscience. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Aranesp to treat anemia; Xgeva for skeletal-related events prevention; Sensipar/Mimpara products to treat sHPT in chronic kidney disease; and EPOGEN to treat a lower-than-normal number of red blood cells.
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