Twin Capital Management Inc. Reduces Stake in Amgen, Inc. (NASDAQ:AMGN)

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Twin Capital Management Inc. lowered its position in Amgen, Inc. (NASDAQ:AMGN) by 35.9% during the second quarter, Holdings Channel.com reports. The institutional investor owned 62,525 shares of the medical research company’s stock after selling 34,942 shares during the period. Twin Capital Management Inc.’s holdings in Amgen were worth $11,522,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Kavar Capital Partners LLC purchased a new stake in Amgen in the second quarter valued at approximately $81,000. Executive Wealth Management LLC boosted its position in Amgen by 12.4% in the 2nd quarter. Executive Wealth Management LLC now owns 6,815 shares of the medical research company’s stock worth $1,256,000 after purchasing an additional 754 shares in the last quarter. Stephens Inc. AR boosted its position in Amgen by 11.0% in the 2nd quarter. Stephens Inc. AR now owns 37,892 shares of the medical research company’s stock worth $6,983,000 after purchasing an additional 3,740 shares in the last quarter. TRUE Private Wealth Advisors boosted its position in Amgen by 3.9% in the 2nd quarter. TRUE Private Wealth Advisors now owns 3,772 shares of the medical research company’s stock worth $695,000 after purchasing an additional 140 shares in the last quarter. Finally, Jacobs & Co. CA boosted its position in Amgen by 0.6% in the 2nd quarter. Jacobs & Co. CA now owns 39,419 shares of the medical research company’s stock worth $7,264,000 after purchasing an additional 234 shares in the last quarter. Hedge funds and other institutional investors own 78.96% of the company’s stock.

In other news, Director Ronald D. Sugar sold 2,000 shares of the company’s 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 completion of the transaction, the director now directly owns 16,219 shares of the company’s stock, valued at approximately $2,849,353.92. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director R Sanders Williams sold 425 shares of the company’s 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 directly owns 16,336 shares of the company’s stock, valued at $2,990,141.44. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,425 shares of company stock valued at $804,312. Corporate insiders own 0.25% of the company’s stock.

Shares of AMGN stock traded up $1.63 during trading hours on Thursday, hitting $200.50. 97,997 shares of the company’s stock were exchanged, compared to its average volume of 3,546,323. The company has a current ratio of 2.89, a quick ratio of 2.60 and a debt-to-equity ratio of 2.58. The company has a market capitalization of $119.83 billion, a price-to-earnings ratio of 13.94, a P/E/G ratio of 2.42 and a beta of 1.19. The business’s 50 day moving average price is $183.21. Amgen, Inc. has a fifty-two week low of $166.30 and a fifty-two week high of $211.90.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, July 30th. The medical research company reported $3.97 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.58 by $0.39. The business had revenue of $5.87 billion during 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%. The business’s quarterly revenue was down 3.1% on a year-over-year basis. During the same period in the prior year, the company posted $3.83 EPS. On average, equities analysts predict that Amgen, Inc. will post 14.25 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Thursday, August 15th will be paid a dividend of $1.45 per share. This represents a $5.80 annualized dividend and a dividend yield of 2.89%. The ex-dividend date is Wednesday, August 14th. Amgen’s payout ratio is 40.28%.

Several equities research analysts have commented on the company. BidaskClub upgraded Amgen from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Morgan Stanley lowered their price objective on Amgen from $211.00 to $207.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Mizuho restated a “buy” rating and issued a $208.00 price objective on shares of Amgen in a research report on Monday, July 1st. Evercore ISI restated a “hold” rating on shares of Amgen in a research report on Sunday. Finally, Wells Fargo & Co upped their price objective on Amgen from $197.00 to $202.00 and gave the stock a “market perform” rating in a research report on Monday. Nine analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Amgen presently has an average rating of “Buy” and a consensus price target of $211.44.

About Amgen

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.

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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