Grimes & Company Inc. boosted its position in shares of Amgen (NASDAQ:AMGN) by 1.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,423 shares of the medical research company’s stock after purchasing an additional 633 shares during the period. Amgen makes up 0.9% of Grimes & Company Inc.’s holdings, making the stock its 29th biggest holding. Grimes & Company Inc.’s holdings in Amgen were worth $9,464,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Baker Ellis Asset Management LLC acquired a new position in Amgen during the 3rd quarter worth approximately $108,000. Phocas Financial Corp. purchased a new stake in shares of Amgen during the 2nd quarter worth approximately $110,000. Jackson Grant Investment Advisers Inc. lifted its position in shares of Amgen by 0.8% during the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 641 shares of the medical research company’s stock worth $110,000 after buying an additional 5 shares during the last quarter. Omnia Family Wealth LLC lifted its position in shares of Amgen by 25.3% during the 2nd quarter. Omnia Family Wealth LLC now owns 729 shares of the medical research company’s stock worth $125,000 after buying an additional 147 shares during the last quarter. Finally, Horan Capital Advisors LLC. purchased a new stake in shares of Amgen during the 3rd quarter worth approximately $150,000. Institutional investors and hedge funds own 79.55% of the company’s stock.
Several analysts recently commented on the stock. Argus upgraded shares of Amgen from a “hold” rating to a “buy” rating and upped their price target for the company from $192.33 to $220.00 in a research report on Tuesday, January 23rd. JPMorgan Chase upped their price target on shares of Amgen from $184.00 to $189.00 and gave the company a “neutral” rating in a research report on Wednesday, January 24th. Royal Bank of Canada reissued a “hold” rating and issued a $189.00 price objective on shares of Amgen in a research note on Wednesday, January 24th. Vetr cut shares of Amgen from a “hold” rating to a “sell” rating and set a $181.60 price objective on the stock. in a research note on Tuesday, March 6th. Finally, BMO Capital Markets boosted their price objective on shares of Amgen from $192.00 to $202.00 and gave the company a “market perform” rating in a research note on Friday, February 2nd. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eleven have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $190.57.
In related news, EVP Sean E. Harper sold 1,525 shares of Amgen stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $174.18, for a total transaction of $265,624.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders have sold 4,575 shares of company stock worth $838,064. Company insiders own 0.19% of the company’s stock.
AMGN traded down $1.39 during trading hours on Thursday, hitting $171.02. 3,471,270 shares of the stock were exchanged, compared to its average volume of 5,002,658. The company has a debt-to-equity ratio of 1.35, a current ratio of 5.49 and a quick ratio of 5.17. The stock has a market capitalization of $124,750.94, a PE ratio of 13.59, a price-to-earnings-growth ratio of 2.12 and a beta of 1.36. Amgen has a 12 month low of $152.16 and a 12 month high of $201.23.
Amgen (NASDAQ:AMGN) last posted its earnings results on Thursday, February 1st. The medical research company reported $2.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.03 by ($0.14). Amgen had a net margin of 8.66% and a return on equity of 30.87%. The company had revenue of $5.80 billion during the quarter, compared to the consensus estimate of $5.84 billion. During the same quarter in the previous year, the business posted $2.89 earnings per share. The business’s quarterly revenue was down 2.7% compared to the same quarter last year. research analysts anticipate that Amgen will post 13.25 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 8th. Investors of record on Thursday, May 17th will be paid a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date is Wednesday, May 16th. Amgen’s dividend payout ratio is currently 41.97%.
Amgen declared that its board has initiated a share repurchase program on Thursday, February 1st that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the medical research company to repurchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
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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, nephrology, and neuroscience. The company's products include Evenity to treat osteoporosis in postmenopausal women; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Repatha to treat coronary diseases; Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Parsabiv to treat secondary hyperparathyroidism (sHPT); and Aimovig for the prevention of migraine.
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