Cullinan Associates Inc. increased its stake in Amgen, Inc. (NASDAQ:AMGN) by 1.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 50,257 shares of the medical research company’s stock after purchasing an additional 641 shares during the period. Amgen makes up 0.8% of Cullinan Associates Inc.’s holdings, making the stock its 26th biggest holding. Cullinan Associates Inc.’s holdings in Amgen were worth $12,115,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Nuveen Asset Management LLC grew its position in Amgen by 1,334.9% in the second quarter. Nuveen Asset Management LLC now owns 4,942,807 shares of the medical research company’s stock valued at $910,860,000 after acquiring an additional 4,598,329 shares during the last quarter. BlackRock Inc. grew its position in Amgen by 3.4% in the second quarter. BlackRock Inc. now owns 47,717,316 shares of the medical research company’s stock valued at $8,793,346,000 after acquiring an additional 1,585,911 shares during the last quarter. Johanson Financial Advisors Inc. grew its position in Amgen by 24,240.9% in the fourth quarter. Johanson Financial Advisors Inc. now owns 1,216,801 shares of the medical research company’s stock valued at $5,052,000 after acquiring an additional 1,211,802 shares during the last quarter. Railway Pension Investments Ltd grew its position in Amgen by 158.2% in the third quarter. Railway Pension Investments Ltd now owns 651,796 shares of the medical research company’s stock valued at $126,129,000 after acquiring an additional 399,317 shares during the last quarter. Finally, Beutel Goodman & Co Ltd. grew its position in Amgen by 50.5% in the second quarter. Beutel Goodman & Co Ltd. now owns 1,100,511 shares of the medical research company’s stock valued at $154,859,000 after acquiring an additional 369,142 shares during the last quarter. Institutional investors own 76.58% of the company’s stock.
NASDAQ:AMGN opened at $241.70 on Thursday. The stock has a market cap of $142.60 billion, a P/E ratio of 16.78, a price-to-earnings-growth ratio of 2.08 and a beta of 1.11. 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 stock’s 50-day moving average is $238.32 and its 200-day moving average is $208.80. Amgen, Inc. has a 1-year low of $166.30 and a 1-year high of $244.99.
Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, October 29th. The medical research company reported $3.66 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.53 by $0.13. The company had revenue of $5.74 billion for the quarter, compared to analysts’ expectations of $5.63 billion. Amgen had a return on equity of 80.26% and a net margin of 34.48%. The business’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period in the previous year, the business posted $3.69 earnings per share. As a group, equities analysts forecast that Amgen, Inc. will post 14.58 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 14th will be issued a dividend of $1.60 per share. This is a boost from Amgen’s previous quarterly dividend of $1.45. This represents a $6.40 annualized dividend and a dividend yield of 2.65%. The ex-dividend date is Thursday, February 13th. Amgen’s payout ratio is 40.28%.
A number of research analysts have issued reports on AMGN shares. Sanford C. Bernstein started coverage on Amgen in a research report on Monday, October 14th. They issued an “outperform” rating on the stock. Cowen lifted their target price on Amgen from $253.00 to $277.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. Morgan Stanley started coverage on Amgen in a research report on Tuesday, December 17th. They issued an “overweight” rating and a $280.00 target price on the stock. Leerink Swann lifted their target price on Amgen from $189.00 to $205.00 and gave the company a “market perform” rating in a research report on Wednesday, October 30th. Finally, Goldman Sachs Group set a $243.00 target price on Amgen and gave the company a “buy” rating in a research report on Monday, September 30th. Eleven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $235.39.
In related news, Director R Sanders Williams sold 425 shares of Amgen stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $215.45, for a total value of $91,566.25. Following the transaction, the director now directly owns 5,413 shares of the company’s stock, valued at $1,166,230.85. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO David W. Meline sold 8,737 shares of Amgen stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $234.36, for a total value of $2,047,603.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,162 shares of company stock worth $4,214,030. 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.
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