IFP Advisors Inc cut its position in shares of Amgen, Inc. (NASDAQ:AMGN) by 7.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,265 shares of the medical research company’s stock after selling 1,190 shares during the quarter. IFP Advisors Inc’s holdings in Amgen were worth $2,818,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Pzena Investment Management LLC boosted its holdings in Amgen by 79,361.6% during the first quarter. Pzena Investment Management LLC now owns 1,341,311 shares of the medical research company’s stock valued at $228,667,000 after purchasing an additional 1,339,623 shares in the last quarter. Beutel Goodman & Co Ltd. acquired a new stake in Amgen during the second quarter valued at approximately $86,723,000. Millennium Management LLC boosted its holdings in Amgen by 1,245.3% during the fourth quarter. Millennium Management LLC now owns 519,141 shares of the medical research company’s stock valued at $90,279,000 after purchasing an additional 480,551 shares in the last quarter. Old Mutual Global Investors UK Ltd. boosted its holdings in Amgen by 775.0% during the first quarter. Old Mutual Global Investors UK Ltd. now owns 532,015 shares of the medical research company’s stock valued at $90,697,000 after purchasing an additional 471,216 shares in the last quarter. Finally, Summit Trail Advisors LLC boosted its holdings in Amgen by 16,458.8% during the first quarter. Summit Trail Advisors LLC now owns 433,510 shares of the medical research company’s stock valued at $434,000 after purchasing an additional 430,892 shares in the last quarter. 78.78% of the stock is currently owned by institutional investors and hedge funds.
Shares of AMGN opened at $197.31 on Wednesday. The company has a market capitalization of $127.78 billion, a PE ratio of 14.67, a price-to-earnings-growth ratio of 1.92 and a beta of 1.36. The company has a debt-to-equity ratio of 2.03, a quick ratio of 3.12 and a current ratio of 3.39. Amgen, Inc. has a one year low of $163.31 and a one year high of $201.23.
Amgen (NASDAQ:AMGN) last announced its earnings results on Thursday, July 26th. The medical research company reported $3.83 EPS for the quarter, topping the consensus estimate of $3.52 by $0.31. Amgen had a return on equity of 43.18% and a net margin of 10.19%. The business had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $5.73 billion. During the same period in the previous year, the business earned $3.27 EPS. Amgen’s revenue was up 4.3% compared to the same quarter last year. sell-side analysts expect that Amgen, Inc. will post 13.95 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 7th. Investors of record on Friday, August 17th will be given a $1.32 dividend. This represents a $5.28 annualized dividend and a yield of 2.68%. The ex-dividend date is Thursday, August 16th. Amgen’s dividend payout ratio (DPR) is presently 41.97%.
In related news, EVP Sean E. Harper sold 1,525 shares of the business’s stock in a transaction that occurred on Monday, July 16th. The shares were sold at an average price of $195.71, for a total value of $298,457.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.27% of the company’s stock.
AMGN has been the topic of a number of recent research reports. Oppenheimer reaffirmed a “buy” rating and set a $224.00 price objective on shares of Amgen in a report on Monday, July 30th. Robert W. Baird lifted their price objective on Amgen from $165.00 to $179.00 and gave the company a “neutral” rating in a report on Monday, July 30th. Goldman Sachs Group reaffirmed a “buy” rating and set a $228.00 price objective on shares of Amgen in a report on Friday, July 27th. Jefferies Financial Group boosted their target price on Amgen from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, July 27th. Finally, Mizuho reissued a “buy” rating and issued a $200.00 target price on shares of Amgen in a report on Friday, July 27th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twelve have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $202.76.
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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