Sumitomo Life Insurance Co. lessened its stake in shares of Amgen, Inc. (NASDAQ:AMGN) by 4.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 22,763 shares of the medical research company’s stock after selling 1,108 shares during the period. Sumitomo Life Insurance Co.’s holdings in Amgen were worth $3,958,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in AMGN. Toronto Dominion Bank boosted its holdings in shares of Amgen by 11.0% in the 3rd quarter. Toronto Dominion Bank now owns 279,280 shares of the medical research company’s stock valued at $52,066,000 after acquiring an additional 27,726 shares during the last quarter. Teacher Retirement System of Texas boosted its holdings in shares of Amgen by 16.5% in the 3rd quarter. Teacher Retirement System of Texas now owns 740,764 shares of the medical research company’s stock valued at $138,115,000 after acquiring an additional 104,871 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Amgen by 10.3% in the 2nd quarter. Pacer Advisors Inc. now owns 25,378 shares of the medical research company’s stock valued at $4,371,000 after acquiring an additional 2,362 shares during the last quarter. Putnam FL Investment Management Co. purchased a new stake in shares of Amgen in the 3rd quarter valued at $447,000. Finally, Wesbanco Bank Inc. boosted its holdings in shares of Amgen by 6.5% in the 2nd quarter. Wesbanco Bank Inc. now owns 106,792 shares of the medical research company’s stock valued at $18,393,000 after acquiring an additional 6,492 shares during the last quarter. 79.61% of the stock is currently owned by institutional investors.
Several research firms have recently commented on AMGN. Vetr downgraded shares of Amgen from a “hold” rating to a “sell” rating and set a $181.60 price objective on the stock. in a report on Tuesday, March 6th. Oppenheimer set a $205.00 price target on shares of Amgen and gave the stock a “buy” rating in a report on Friday, January 5th. Atlantic Securities downgraded shares of Amgen from an “overweight” rating to a “neutral” rating and set a $187.01 price target on the stock. in a report on Monday, February 5th. Piper Jaffray Companies lowered their price target on shares of Amgen from $194.00 to $190.00 and set an “overweight” rating on the stock in a report on Friday, February 2nd. Finally, Cann reissued a “buy” rating and set a $205.00 price target on shares of Amgen in a report on Thursday, November 30th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Amgen has an average rating of “Hold” and an average target price of $191.72.
Amgen (NASDAQ:AMGN) last posted 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). The company had revenue of $5.80 billion for the quarter, compared to analyst estimates of $5.84 billion. Amgen had a return on equity of 30.87% and a net margin of 8.66%. The business’s revenue was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.89 earnings per share. equities analysts predict that Amgen, Inc. will post 13.22 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 8th. Shareholders of record on Thursday, May 17th will be given a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend is Wednesday, May 16th. Amgen’s dividend payout ratio is presently 48.00%.
Amgen announced that its Board of Directors has approved a share buyback plan on Thursday, February 1st that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the medical research company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.
In other Amgen news, EVP Sean E. Harper sold 1,525 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $174.18, for a total transaction of $265,624.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.19% of the company’s stock.
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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