Intersect Capital LLC lowered its position in shares of Amgen, Inc. (NASDAQ:AMGN) by 5.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,089 shares of the medical research company’s stock after selling 334 shares during the quarter. Intersect Capital LLC’s holdings in Amgen were worth $1,178,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of AMGN. Gifford Fong Associates boosted its position in shares of Amgen by 25.3% during the 2nd quarter. Gifford Fong Associates now owns 67,671 shares of the medical research company’s stock worth $12,470,000 after purchasing an additional 13,671 shares in the last quarter. Bray Capital Advisors boosted its position in shares of Amgen by 11.6% during the 2nd quarter. Bray Capital Advisors now owns 19,676 shares of the medical research company’s stock worth $3,626,000 after purchasing an additional 2,045 shares in the last quarter. CHICAGO TRUST Co NA boosted its position in shares of Amgen by 2.8% during the 2nd quarter. CHICAGO TRUST Co NA now owns 3,716 shares of the medical research company’s stock worth $685,000 after purchasing an additional 100 shares in the last quarter. Private Advisor Group LLC boosted its position in shares of Amgen by 4.0% during the 2nd quarter. Private Advisor Group LLC now owns 38,488 shares of the medical research company’s stock worth $7,093,000 after purchasing an additional 1,494 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new position in shares of Amgen during the 2nd quarter worth about $15,515,000. 76.33% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ AMGN traded down $0.41 during trading hours on Monday, hitting $220.70. The company’s stock had a trading volume of 1,361,264 shares, compared to its average volume of 2,904,606. Amgen, Inc. has a 52 week low of $166.30 and a 52 week high of $221.38. The company has a market capitalization of $127.80 billion, a PE ratio of 15.33, a price-to-earnings-growth ratio of 2.21 and a beta of 1.09. The company has a current ratio of 2.89, a quick ratio of 2.59 and a debt-to-equity ratio of 2.54. The company’s 50-day simple moving average is $202.75 and its two-hundred day simple moving average is $188.90.
Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, October 29th. The medical research company reported $3.66 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.53 by $0.13. Amgen had a net margin of 34.48% and a return on equity of 80.26%. The business had revenue of $5.74 billion for the quarter, compared to analysts’ expectations of $5.63 billion. During the same quarter last year, the firm earned $3.69 EPS. The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year. Research analysts anticipate that Amgen, Inc. will post 14.44 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be paid a $1.45 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $5.80 annualized dividend and a yield of 2.63%. Amgen’s dividend payout ratio (DPR) is 40.28%.
A number of research firms have recently issued reports on AMGN. Wells Fargo & Co reissued a “market perform” rating and set a $220.00 price objective (up previously from $202.00) on shares of Amgen in a research report on Tuesday, August 27th. They noted that the move was a valuation call. Piper Jaffray Companies increased their price objective on shares of Amgen from $210.00 to $218.00 and gave the stock an “overweight” rating in a research report on Monday, August 26th. Cowen set a $231.00 price objective on shares of Amgen and gave the stock a “buy” rating in a research report on Sunday, September 29th. William Blair reissued a “hold” rating on shares of Amgen in a research report on Friday, August 30th. Finally, Citigroup reissued a “buy” rating on shares of Amgen in a research report on Monday, August 12th. Ten investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $219.56.
In other Amgen news, Director Ronald D. Sugar sold 2,000 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $193.58, for a total value of $387,160.00. Following the completion of the sale, the director now owns 16,436 shares in the company, valued at approximately $3,181,680.88. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Cynthia M. Patton sold 13,426 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $208.07, for a total transaction of $2,793,547.82. Following the completion of the sale, the senior vice president now owns 32,648 shares of the company’s stock, valued at approximately $6,793,069.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,851 shares of company stock valued at $3,685,674. Company insiders own 0.25% of the company’s stock.
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.
See Also: Yield Curve
Receive News & Ratings for Amgen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amgen and related companies with MarketBeat.com's FREE daily email newsletter.