Front Row Advisors LLC bought a new stake in Amgen, Inc. (NASDAQ:AMGN) in the 4th quarter, according to its most recent filing with the SEC. The fund bought 9,369 shares of the medical research company’s stock, valued at approximately $1,629,000. Amgen accounts for 1.3% of Front Row Advisors LLC’s investment portfolio, making the stock its 15th largest holding.
Several other institutional investors and hedge funds have also recently bought and sold shares of AMGN. BDO Wealth Advisors LLC acquired a new position in Amgen during the second quarter worth $145,000. Pacer Advisors Inc. raised its position in Amgen by 10.3% during the second quarter. Pacer Advisors Inc. now owns 25,378 shares of the medical research company’s stock worth $4,371,000 after acquiring an additional 2,362 shares during the period. Buckingham Asset Management LLC raised its position in Amgen by 18.0% during the second quarter. Buckingham Asset Management LLC now owns 9,374 shares of the medical research company’s stock worth $1,615,000 after acquiring an additional 1,433 shares during the period. Brookstone Capital Management raised its position in shares of Amgen by 1.4% in the second quarter. Brookstone Capital Management now owns 4,559 shares of the medical research company’s stock valued at $785,000 after buying an additional 61 shares during the last quarter. Finally, Kings Point Capital Management raised its position in shares of Amgen by 13.3% in the second quarter. Kings Point Capital Management now owns 13,758 shares of the medical research company’s stock valued at $2,370,000 after buying an additional 1,611 shares during the last quarter. Hedge funds and other institutional investors own 79.61% of the company’s stock.
Shares of Amgen, Inc. (NASDAQ AMGN) opened at $189.30 on Tuesday. The company has a debt-to-equity ratio of 1.35, a current ratio of 5.49 and a quick ratio of 5.17. Amgen, Inc. has a 1-year low of $152.16 and a 1-year high of $201.23. The stock has a market cap of $136,400.00, a PE ratio of 17.21, a P/E/G ratio of 2.35 and a beta of 1.37.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 8th. Shareholders of record on Thursday, May 17th will be paid a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a yield of 2.79%. The ex-dividend date of this dividend is Wednesday, May 16th. Amgen’s dividend payout ratio (DPR) is presently 48.00%.
Amgen declared that its Board of Directors has authorized a stock buyback program on Thursday, February 1st that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the medical research company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.
A number of equities research analysts have recently commented on the stock. Argus upgraded shares of Amgen from a “hold” rating to a “buy” rating and increased their target price for the company from $192.33 to $220.00 in a research report on Tuesday, January 23rd. Royal Bank of Canada reiterated a “hold” rating and issued a $189.00 target price on shares of Amgen in a research report on Wednesday, January 24th. JPMorgan Chase & Co. increased their target price on shares of Amgen from $184.00 to $189.00 and gave the company a “neutral” rating in a research report on Wednesday, January 24th. Vetr cut shares of Amgen from a “hold” rating to a “sell” rating and set a $181.60 target price for the company. in a research report on Tuesday, March 6th. Finally, BMO Capital Markets increased their target price on shares of Amgen from $192.00 to $202.00 and gave the company a “market perform” rating in a research report on Friday, February 2nd. One investment 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. Amgen has a consensus rating of “Hold” and a consensus target price of $191.72.
In other Amgen news, EVP Sean E. Harper sold 1,525 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $174.18, for a total transaction of $265,624.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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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