State Treasurer State of Michigan cut its holdings in Amgen, Inc. (NASDAQ:AMGN) by 3.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 212,794 shares of the medical research company’s stock after selling 8,600 shares during the period. State Treasurer State of Michigan’s holdings in Amgen were worth $37,005,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Toronto Dominion Bank raised its position in shares of Amgen by 11.0% during the 3rd quarter. Toronto Dominion Bank now owns 279,280 shares of the medical research company’s stock valued at $52,066,000 after purchasing an additional 27,726 shares during the period. Teacher Retirement System of Texas raised its position in shares of Amgen by 16.5% during 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 purchasing an additional 104,871 shares during the period. Putnam FL Investment Management Co. bought a new stake in shares of Amgen during the 3rd quarter valued at $447,000. Wesbanco Bank Inc. grew its stake in Amgen by 6.5% during the second 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 in the last quarter. Finally, Moody Lynn & Lieberson LLC purchased a new position in Amgen during the third quarter valued at $2,353,000. Institutional investors and hedge funds own 79.61% of the company’s stock.
In related news, EVP Sean E. Harper sold 1,525 shares of Amgen 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.19% of the stock is currently owned by insiders.
Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Thursday, February 1st. The medical research company reported $2.89 EPS for the quarter, missing analysts’ consensus estimates of $3.03 by ($0.14). Amgen had a return on equity of 30.87% and a net margin of 8.66%. The business had revenue of $5.80 billion during the quarter, compared to analysts’ expectations of $5.84 billion. During the same period in the previous year, the business earned $2.89 earnings per share. The business’s quarterly revenue was down 2.7% on a year-over-year basis. sell-side analysts anticipate that Amgen, Inc. will post 13.24 earnings per share for the current fiscal year.
Amgen declared that its board has approved a share repurchase program on Thursday, February 1st that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the medical research company to purchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.
The company also recently declared 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 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 is presently 205.45%.
Several equities analysts recently weighed in on the stock. 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 note on Tuesday, March 6th. Oppenheimer set a $205.00 target price on shares of Amgen and gave the company a “buy” rating in a research note on Friday, January 5th. Atlantic Securities cut shares of Amgen from an “overweight” rating to a “neutral” rating and set a $187.01 target price for the company. in a research note on Monday, February 5th. Piper Jaffray Companies cut their target price on shares of Amgen from $194.00 to $190.00 and set an “overweight” rating for the company in a research note on Friday, February 2nd. Finally, Cann reaffirmed a “buy” rating and set a $205.00 target price on shares of Amgen in a research note on Thursday, November 30th. One equities 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 stock. The stock presently has an average rating of “Hold” and an average target price 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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