Harrington Investments INC lifted its position in shares of Amgen, Inc. (NASDAQ:AMGN) by 4.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,209 shares of the medical research company’s stock after purchasing an additional 552 shares during the quarter. Amgen makes up about 2.1% of Harrington Investments INC’s investment portfolio, making the stock its 17th largest position. Harrington Investments INC’s holdings in Amgen were worth $2,471,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in the company. Baker Ellis Asset Management LLC bought a new position in shares of Amgen during the 3rd quarter worth approximately $108,000. Jackson Grant Investment Advisers Inc. lifted its position in shares of Amgen by 0.8% during the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 641 shares of the medical research company’s stock worth $110,000 after buying an additional 5 shares during the period. Phocas Financial Corp. bought a new position in shares of Amgen during the 2nd quarter worth approximately $110,000. Omnia Family Wealth LLC raised its position in 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 purchasing an additional 147 shares during the last quarter. Finally, Salem Investment Counselors Inc. raised its position in 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 purchasing an additional 36 shares during the last quarter. 79.61% of the stock is currently owned by institutional investors.
Shares of Amgen, Inc. (AMGN) opened at $189.75 on Wednesday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 5.17 and a current ratio of 5.49. Amgen, Inc. has a 52 week low of $152.16 and a 52 week high of $201.23. The company has a market capitalization of $136,402.42, a price-to-earnings ratio of 15.05, a P/E/G ratio of 2.32 and a beta of 1.37.
Amgen announced that its Board of Directors has approved a share repurchase 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 repurchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
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 dividend of $1.32 per share. The ex-dividend date of this dividend is Wednesday, May 16th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 2.78%. Amgen’s dividend payout ratio (DPR) is presently 205.45%.
In related news, EVP Sean E. Harper sold 1,525 shares of Amgen stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $174.18, for a total transaction of $265,624.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.19% of the stock is owned by insiders.
Several brokerages have issued reports on AMGN. Argus upgraded Amgen from a “hold” rating to a “buy” rating and lifted their price objective 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 price objective on shares of Amgen in a research report on Wednesday, January 24th. JPMorgan Chase & Co. lifted their price objective on Amgen from $184.00 to $189.00 and gave the company a “neutral” rating in a research report on Wednesday, January 24th. Vetr downgraded Amgen from a “hold” rating to a “sell” rating and set a $181.60 price objective for the company. in a research report on Tuesday, March 6th. Finally, BMO Capital Markets lifted their price objective on Amgen from $192.00 to $202.00 and gave the company a “market perform” rating in a research report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and eleven have issued a buy rating to the company. Amgen currently has an average rating of “Hold” and an average price target of $191.72.
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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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