Alps Advisors Inc. reduced its stake in Amgen, Inc. (NASDAQ:AMGN) by 1.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,517 shares of the medical research company’s stock after selling 206 shares during the quarter. Alps Advisors Inc.’s holdings in Amgen were worth $2,491,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Laurel Wealth Advisors LLC increased its stake in Amgen by 13.8% in the second quarter. Laurel Wealth Advisors LLC now owns 16,830 shares of the medical research company’s stock valued at $3,101,000 after acquiring an additional 2,042 shares during the last quarter. Harrington Investments INC boosted its position in Amgen by 4.6% in the second quarter. Harrington Investments INC now owns 12,435 shares of the medical research company’s stock valued at $2,292,000 after buying an additional 545 shares in the last quarter. Congress Asset Management Co. MA boosted its position in Amgen by 3.9% in the second quarter. Congress Asset Management Co. MA now owns 42,737 shares of the medical research company’s stock valued at $7,876,000 after buying an additional 1,612 shares in the last quarter. Partnervest Advisory Services LLC acquired a new stake in Amgen in the second quarter valued at approximately $314,000. Finally, Commerce Bank lifted its holdings in shares of Amgen by 1.3% during the second quarter. Commerce Bank now owns 227,976 shares of the medical research company’s stock worth $42,011,000 after purchasing an additional 2,974 shares during the period. 76.28% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director R Sanders Williams sold 425 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $183.04, for a total value of $77,792.00. Following the sale, the director now directly owns 16,336 shares in the company, valued at approximately $2,990,141.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ronald D. Sugar sold 2,000 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $187.58, for a total transaction of $375,160.00. Following the completion of the sale, the director now owns 16,336 shares in the company, valued at $3,064,306.88. The disclosure for this sale can be found here. Insiders have sold a total of 17,851 shares of company stock worth $3,659,900 over the last 90 days. Insiders own 0.25% of the company’s stock.
Shares of NASDAQ AMGN traded up $2.16 on Friday, reaching $196.16. 229,577 shares of the company’s stock traded hands, compared to its average volume of 2,890,083. The company has a market cap of $118.06 billion, a price-to-earnings ratio of 13.62, a price-to-earnings-growth ratio of 2.30 and a beta of 1.11. The company has a quick ratio of 2.60, a current ratio of 2.89 and a debt-to-equity ratio of 2.58. The business’s 50 day simple moving average is $196.19 and its two-hundred day simple moving average is $185.15. Amgen, Inc. has a 12 month low of $166.30 and a 12 month high of $211.90.
Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, July 30th. The medical research company reported $3.97 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.58 by $0.39. Amgen had a net margin of 33.78% and a return on equity of 76.17%. The company had revenue of $5.87 billion for the quarter, compared to analysts’ expectations of $5.67 billion. During the same quarter last year, the company posted $3.83 earnings per share. The firm’s quarterly revenue was down 3.1% on a year-over-year basis. Analysts forecast that Amgen, Inc. will post 14.3 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Thursday, August 15th were given a dividend of $1.45 per share. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $5.80 annualized dividend and a dividend yield of 2.96%. Amgen’s payout ratio is 40.28%.
Several equities research analysts have weighed in on the stock. BidaskClub downgraded shares of Amgen from a “hold” rating to a “sell” rating in a research note on Thursday. Oppenheimer set a $240.00 target price on shares of Amgen and gave the stock a “buy” rating in a research report on Monday. Mizuho cut shares of Amgen from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $208.00 to $212.00 in a report on Monday, August 19th. They noted that the move was a valuation call. Credit Suisse Group reissued an “outperform” rating and issued a $225.00 price objective (up previously from $202.00) on shares of Amgen in a report on Friday, August 16th. Finally, Evercore ISI reiterated a “hold” rating on shares of Amgen in a research report on Sunday, August 11th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have issued a buy rating to the stock. Amgen has an average rating of “Hold” and a consensus price target of $217.33.
Amgen Company Profile
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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