Kornitzer Capital Management Inc. KS reduced its stake in shares of Amgen, Inc. (NASDAQ:AMGN) by 4.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 36,440 shares of the medical research company’s stock after selling 1,875 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Amgen were worth $6,337,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the stock. Baker Ellis Asset Management LLC acquired a new stake in Amgen during the 3rd quarter worth about $108,000. Jackson Grant Investment Advisers Inc. grew its stake in shares of Amgen by 0.8% in the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 641 shares of the medical research company’s stock valued at $110,000 after buying an additional 5 shares during the period. Phocas Financial Corp. acquired a new stake in shares of Amgen in the 2nd quarter valued at about $110,000. Omnia Family Wealth LLC grew its stake in shares of Amgen by 25.3% in the 2nd quarter. Omnia Family Wealth LLC now owns 729 shares of the medical research company’s stock valued at $125,000 after buying an additional 147 shares during the period. Finally, Salem Investment Counselors Inc. grew its stake in shares of Amgen by 4.7% in the 2nd quarter. Salem Investment Counselors Inc. now owns 809 shares of the medical research company’s stock valued at $139,000 after buying an additional 36 shares during the period. 79.61% of the stock is owned by institutional investors and hedge funds.
In other Amgen news, EVP Sean E. Harper sold 1,525 shares of Amgen stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $185.62, for a total transaction of $283,070.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.19% of the stock is owned by company insiders.
Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Thursday, February 1st. The medical research company reported $2.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 net margin of 8.66% and a return on equity of 30.87%. Amgen’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.89 EPS. equities research analysts expect that Amgen, Inc. will post 13.22 earnings per share for the current fiscal year.
Amgen declared that its board has approved a stock buyback program on Thursday, February 1st that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the medical research company to reacquire shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
The company also recently announced 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. The ex-dividend date is Wednesday, May 16th. This represents a $5.28 annualized dividend and a dividend yield of 2.79%. Amgen’s dividend payout ratio is currently 48.00%.
AMGN has been the subject of several research reports. Vetr downgraded Amgen from a “buy” rating to a “hold” rating and set a $184.25 target price for the company. in a research note on Wednesday, January 3rd. Royal Bank of Canada restated a “hold” rating and issued a $189.00 target price on shares of Amgen in a research note on Wednesday, January 24th. Piper Jaffray Companies restated a “buy” rating on shares of Amgen in a research note on Tuesday, January 2nd. Cann restated a “buy” rating and issued a $205.00 target price on shares of Amgen in a research note on Thursday, November 30th. Finally, Cowen restated a “buy” rating and issued a $204.00 target price on shares of Amgen in a research note on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and eleven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $191.72.
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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