DAGCO Inc. Cuts Stake in Amgen Inc. (NASDAQ:AMGN)


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DAGCO Inc. cut its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 11.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,670 shares of the medical research company’s stock after selling 470 shares during the period. DAGCO Inc.’s holdings in Amgen were worth $913,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fort Pitt Capital Group LLC bought a new position in shares of Amgen in the fourth quarter worth approximately $28,000. Norway Savings Bank purchased a new stake in Amgen in the fourth quarter worth approximately $29,000. Crescent Capital Consulting LLC purchased a new stake in Amgen in the fourth quarter worth approximately $34,000. Kinloch Capital LLC purchased a new stake in Amgen in the fourth quarter worth approximately $40,000. Finally, Baron Silver Stevens Financial Advisors LLC purchased a new stake in Amgen in the fourth quarter worth approximately $45,000. Hedge funds and other institutional investors own 75.23% of the company’s stock.

Several analysts have issued reports on the company. SVB Leerink cut their target price on Amgen from $267.00 to $230.00 and set a “market perform” rating for the company in a research note on Tuesday. The Goldman Sachs Group reissued a “buy” rating and set a $290.00 price objective on shares of Amgen in a research note on Wednesday, April 28th. Royal Bank of Canada dropped their price objective on Amgen from $220.00 to $217.00 and set a “sector perform” rating for the company in a research note on Tuesday. JPMorgan Chase & Co. reissued a “neutral” rating and set a $215.00 price objective on shares of Amgen in a research note on Wednesday, April 28th. Finally, Robert W. Baird reaffirmed a “sell” rating on shares of Amgen in a research note on Thursday, April 29th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $255.62.

In other news, EVP Jonathan P. Graham sold 11,110 shares of Amgen stock in a transaction dated Thursday, February 4th. The stock was sold at an average price of $236.51, for a total transaction of $2,627,626.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Ronald D. Sugar sold 1,000 shares of Amgen stock in a transaction dated Wednesday, February 10th. The shares were sold at an average price of $238.40, for a total value of $238,400.00. Following the transaction, the director now directly owns 16,805 shares in the company, valued at $4,006,312. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,360 shares of company stock worth $3,407,034. Insiders own 0.36% of the company’s stock.

NASDAQ:AMGN traded down $0.52 on Tuesday, hitting $244.86. The stock had a trading volume of 58,451 shares, compared to its average volume of 2,714,429. The stock has a market cap of $140.99 billion, a price-to-earnings ratio of 19.89, a price-to-earnings-growth ratio of 1.90 and a beta of 0.76. The company has a quick ratio of 1.88, a current ratio of 2.28 and a debt-to-equity ratio of 3.12. The business’s 50-day simple moving average is $248.86 and its two-hundred day simple moving average is $236.11. Amgen Inc. has a 52-week low of $210.28 and a 52-week high of $276.69.

Amgen (NASDAQ:AMGN) last announced its earnings results on Monday, April 26th. The medical research company reported $3.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.05 by ($0.35). The firm had revenue of $5.90 billion during the quarter, compared to analysts’ expectations of $6.30 billion. Amgen had a return on equity of 95.55% and a net margin of 29.42%. The company’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same period in the previous year, the business posted $4.17 earnings per share. As a group, equities research analysts anticipate that Amgen Inc. will post 16.15 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 8th. Shareholders of record on Monday, May 17th will be given a $1.76 dividend. The ex-dividend date is Friday, May 14th. This represents a $7.04 annualized dividend and a yield of 2.88%. Amgen’s payout ratio is 47.50%.

About Amgen

Amgen, Inc is a biotechnology company, which engages in the discovery, development, manufacture and marketing of human therapeutics. Its products include the following brands: Aranesp, BLINCYTO, Corlanor, ENBREL, EPOGEN, IMLYGIC, KYPROLIS, Neulasta, NEUPOGEN, Nplate, Parsabiv, Prolia, Repatha, Sensipar, Vectibix, and XGEVA.

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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