LSV Asset Management increased its holdings in Amgen, Inc. (NASDAQ:AMGN) by 6.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,814,771 shares of the medical research company’s stock after acquiring an additional 234,461 shares during the period. Amgen comprises about 1.0% of LSV Asset Management’s holdings, making the stock its 13th largest holding. LSV Asset Management owned approximately 0.53% of Amgen worth $663,388,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Baker Ellis Asset Management LLC purchased a new stake in Amgen in the 3rd quarter worth about $108,000. Jackson Grant Investment Advisers Inc. lifted its stake in Amgen by 0.8% in the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 641 shares of the medical research company’s stock worth $110,000 after acquiring an additional 5 shares in the last quarter. Phocas Financial Corp. purchased a new stake in shares of Amgen during the 2nd quarter worth about $110,000. Omnia Family Wealth LLC raised its stake 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 purchasing an additional 147 shares in the last quarter. Finally, Salem Investment Counselors Inc. raised its stake in shares of Amgen by 4.7% during the 2nd quarter. Salem Investment Counselors Inc. now owns 809 shares of the medical research company’s stock worth $139,000 after purchasing an additional 36 shares in the last quarter. 79.61% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have recently weighed in on the company. Argus raised Amgen from a “hold” rating to a “buy” rating and raised their price target for the stock from $192.33 to $220.00 in a research note on Tuesday, January 23rd. Royal Bank of Canada reaffirmed a “hold” rating and set a $189.00 price target on shares of Amgen in a research note on Wednesday, January 24th. JPMorgan Chase & Co. raised their price target on Amgen from $184.00 to $189.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 24th. Vetr downgraded Amgen from a “hold” rating to a “sell” rating and set a $181.60 price target for the company. in a research note on Tuesday, March 6th. Finally, BMO Capital Markets raised their price target on Amgen from $192.00 to $202.00 and gave the stock a “market perform” rating in a research note on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and eleven have assigned a buy rating to the company. Amgen has an average rating of “Hold” and an average target price of $191.72.
Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Thursday, February 1st. The medical research company reported $2.89 earnings per share for the quarter, missing the Zacks’ consensus estimate 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 period in the previous year, the business posted $2.89 earnings per share. The firm’s revenue was down 2.7% on a year-over-year basis. research analysts predict that Amgen, Inc. will post 13.22 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 $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date is Wednesday, May 16th. Amgen’s payout ratio is 48.00%.
Amgen announced that its board has initiated a share buyback plan on Thursday, February 1st that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the medical research company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.
In other Amgen news, EVP Sean E. Harper sold 1,525 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $174.18, for a total value of $265,624.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.19% of the company’s stock.
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Amgen Inc is a biotechnology company. The Company discovers, develops, manufactures and delivers various human therapeutics. It operates in human therapeutics segment. Its marketed products portfolio includes Neulasta (pegfilgrastim); erythropoiesis-stimulating agents (ESAs), such as Aranesp (darbepoetin alfa) and EPOGEN (epoetin alfa); Sensipar/Mimpara (cinacalcet); XGEVA (denosumab); Prolia (denosumab); NEUPOGEN (filgrastim), and other marketed products, such as KYPROLIS (carfilzomib), Vectibix (panitumumab), Nplate (romiplostim), Repatha (evolocumab), BLINCYTO (blinatumomab), IMLYGIC (talimogene laherparepvec) and Corlanor (ivabradine).
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