Wright Investors Service Inc. grew its position in Amgen, Inc. (NASDAQ:AMGN) by 0.6% during the second quarter, Holdings Channel reports. The firm owned 18,582 shares of the medical research company’s stock after acquiring an additional 118 shares during the period. Amgen makes up approximately 1.3% of Wright Investors Service Inc.’s portfolio, making the stock its 20th largest position. Wright Investors Service Inc.’s holdings in Amgen were worth $3,424,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the company. Norges Bank acquired a new stake in Amgen during the fourth quarter worth about $1,283,248,000. Thoroughbred Financial Services LLC grew its holdings in Amgen by 19,447.3% during the second quarter. Thoroughbred Financial Services LLC now owns 1,805,392 shares of the medical research company’s stock worth $180,539,000 after acquiring an additional 1,796,156 shares during the period. Ellis Investment Partners LLC grew its holdings in Amgen by 18,906.7% during the first quarter. Ellis Investment Partners LLC now owns 605,934 shares of the medical research company’s stock worth $605,000 after acquiring an additional 602,746 shares during the period. Geode Capital Management LLC grew its holdings in Amgen by 5.8% during the fourth quarter. Geode Capital Management LLC now owns 8,850,224 shares of the medical research company’s stock worth $1,720,250,000 after acquiring an additional 482,760 shares during the period. Finally, First Trust Advisors LP grew its holdings in Amgen by 37.3% during the second quarter. First Trust Advisors LP now owns 1,196,708 shares of the medical research company’s stock worth $220,529,000 after acquiring an additional 325,404 shares during the period. 78.96% of the stock is currently owned by institutional investors and hedge funds.
Several research firms recently commented on AMGN. Wells Fargo & Co raised their target price on Amgen from $197.00 to $202.00 and gave the stock a “market perform” rating in a report on Monday. JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of Amgen in a report on Friday, August 9th. Mizuho reaffirmed a “buy” rating and set a $208.00 target price on shares of Amgen in a report on Monday, July 1st. Citigroup reaffirmed a “buy” rating on shares of Amgen in a report on Monday. Finally, Cowen reaffirmed a “buy” rating and set a $229.00 target price on shares of Amgen in a report on Wednesday, May 1st. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $211.44.
In other Amgen news, Director Ronald D. Sugar sold 2,000 shares of the stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $175.68, for a total transaction of $351,360.00. Following the transaction, the director now owns 16,219 shares in the company, valued at $2,849,353.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director R Sanders Williams sold 425 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $183.04, for a total value of $77,792.00. Following the transaction, the director now owns 16,336 shares in the company, valued at approximately $2,990,141.44. The disclosure for this sale can be found here. Insiders have sold 4,425 shares of company stock worth $804,312 in the last quarter. 0.25% of the stock is currently owned by company insiders.
AMGN stock traded up $1.65 during mid-day trading on Thursday, reaching $200.52. 107,461 shares of the company’s stock were exchanged, compared to its average volume of 3,546,323. The firm has a market capitalization of $119.83 billion, a P/E ratio of 13.94, a price-to-earnings-growth ratio of 2.42 and a beta of 1.19. The firm has a 50 day moving average of $183.21. The company has a current ratio of 2.89, a quick ratio of 2.60 and a debt-to-equity ratio of 2.58. Amgen, Inc. has a 12-month low of $166.30 and a 12-month high of $211.90.
Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, July 30th. The medical research company reported $3.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.58 by $0.39. The company had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.67 billion. Amgen had a return on equity of 76.17% and a net margin of 33.78%. Amgen’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.83 earnings per share. Analysts predict that Amgen, Inc. will post 14.25 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Thursday, August 15th will be given a dividend of $1.45 per share. The ex-dividend date is Wednesday, August 14th. This represents a $5.80 dividend on an annualized basis and a yield of 2.89%. Amgen’s dividend payout ratio is currently 40.28%.
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.
Featured Story: Gross Domestic Product (GDP)
Want to see what other hedge funds are holding AMGN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Amgen, Inc. (NASDAQ:AMGN).
Receive News & Ratings for Amgen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amgen and related companies with MarketBeat.com's FREE daily email newsletter.