Donaldson Capital Management LLC Cuts Stake in Amgen, Inc. (AMGN)

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Donaldson Capital Management LLC lessened its position in shares of Amgen, Inc. (NASDAQ:AMGN) by 1.5% in the second quarter, HoldingsChannel.com reports. The fund owned 167,106 shares of the medical research company’s stock after selling 2,519 shares during the period. Amgen comprises approximately 3.0% of Donaldson Capital Management LLC’s portfolio, making the stock its 10th biggest holding. Donaldson Capital Management LLC’s holdings in Amgen were worth $30,846,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Braun Bostich & Associates Inc. bought a new position in Amgen in the 1st quarter valued at approximately $113,000. WealthTrust Fairport LLC bought a new position in Amgen in the 1st quarter valued at approximately $121,000. Cornerstone Advisors Inc. lifted its stake in Amgen by 76.5% in the 1st quarter. Cornerstone Advisors Inc. now owns 729 shares of the medical research company’s stock valued at $124,000 after purchasing an additional 316 shares during the last quarter. Gables Capital Management Inc. bought a new position in Amgen in the 1st quarter valued at approximately $174,000. Finally, Mount Yale Investment Advisors LLC bought a new position in Amgen in the 1st quarter valued at approximately $181,000. 78.78% of the stock is owned by institutional investors.

Shares of NASDAQ AMGN opened at $197.56 on Tuesday. The company has a quick ratio of 3.12, a current ratio of 3.39 and a debt-to-equity ratio of 2.03. Amgen, Inc. has a 52-week low of $163.31 and a 52-week high of $201.23. The company has a market capitalization of $127.78 billion, a price-to-earnings ratio of 15.70, a price-to-earnings-growth ratio of 1.92 and a beta of 1.36.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Thursday, July 26th. The medical research company reported $3.83 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.52 by $0.31. Amgen had a net margin of 10.19% and a return on equity of 43.18%. The firm had revenue of $6.06 billion during the quarter, compared to analysts’ expectations of $5.73 billion. During the same period in the prior year, the company posted $3.27 EPS. The company’s revenue was up 4.3% on a year-over-year basis. research analysts expect that Amgen, Inc. will post 13.95 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 7th. Shareholders of record on Friday, August 17th will be given a $1.32 dividend. This represents a $5.28 annualized dividend and a yield of 2.67%. The ex-dividend date is Thursday, August 16th. Amgen’s dividend payout ratio (DPR) is currently 41.97%.

In other Amgen news, EVP Sean E. Harper sold 1,525 shares of the company’s stock in a transaction that occurred on Tuesday, June 12th. The shares were sold at an average price of $184.27, for a total value of $281,011.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.27% of the company’s stock.

AMGN has been the subject of several research reports. Cowen reissued a “buy” rating and issued a $204.00 price objective on shares of Amgen in a research note on Tuesday, April 24th. Mizuho set a $200.00 price objective on shares of Amgen and gave the company a “buy” rating in a research note on Tuesday, April 24th. Royal Bank of Canada dropped their price objective on shares of Amgen to $183.00 and set a “sector perform” rating for the company in a research note on Wednesday, April 25th. Morgan Stanley dropped their price objective on shares of Amgen from $205.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, April 25th. Finally, BidaskClub raised shares of Amgen from a “sell” rating to a “hold” rating in a research note on Friday, May 25th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and twelve have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $202.76.

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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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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