Family Management Corp reduced its stake in Amgen, Inc. (NASDAQ:AMGN) by 4.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,956 shares of the medical research company’s stock after selling 1,047 shares during the period. Amgen accounts for approximately 2.8% of Family Management Corp’s holdings, making the stock its 10th largest holding. Family Management Corp’s holdings in Amgen were worth $4,759,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Mutual Advisors LLC boosted its position in shares of Amgen by 5.8% in the 2nd quarter. Mutual Advisors LLC now owns 4,814 shares of the medical research company’s stock worth $889,000 after purchasing an additional 265 shares during the last quarter. Lederer & Associates Investment Counsel CA boosted its position in shares of Amgen by 2.4% in the 3rd quarter. Lederer & Associates Investment Counsel CA now owns 13,150 shares of the medical research company’s stock worth $2,726,000 after purchasing an additional 310 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of Amgen by 2.3% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 3,207,242 shares of the medical research company’s stock worth $592,025,000 after purchasing an additional 72,205 shares during the last quarter. Argent Trust Co boosted its position in shares of Amgen by 31.8% in the 2nd quarter. Argent Trust Co now owns 11,691 shares of the medical research company’s stock worth $2,159,000 after purchasing an additional 2,818 shares during the last quarter. Finally, Lau Associates LLC bought a new position in shares of Amgen in the 3rd quarter worth $406,000. Institutional investors and hedge funds own 76.94% of the company’s stock.
Several research analysts have weighed in on AMGN shares. Cann reiterated a “buy” rating and set a $224.00 target price on shares of Amgen in a report on Monday, October 1st. Jefferies Financial Group reiterated a “buy” rating and set a $220.00 target price on shares of Amgen in a report on Monday, October 1st. Oppenheimer reiterated a “buy” rating and set a $224.00 target price on shares of Amgen in a report on Tuesday, October 2nd. Royal Bank of Canada set a $193.00 target price on Amgen and gave the stock a “neutral” rating in a report on Friday, September 28th. Finally, Zacks Investment Research upgraded Amgen from a “hold” rating to a “buy” rating and set a $234.00 target price on the stock in a report on Monday, October 1st. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Amgen presently has a consensus rating of “Hold” and a consensus target price of $205.68.
In other news, SVP Cynthia M. Patton sold 1,777 shares of the business’s stock in a transaction dated Thursday, November 29th. The stock was sold at an average price of $202.88, for a total value of $360,517.76. Following the sale, the senior vice president now directly owns 23,090 shares in the company, valued at $4,684,499.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.19% of the company’s stock.
AMGN stock opened at $191.44 on Friday. The stock has a market cap of $126.81 billion, a price-to-earnings ratio of 15.22, a price-to-earnings-growth ratio of 2.07 and a beta of 1.41. Amgen, Inc. has a 1-year low of $163.31 and a 1-year high of $210.19. The company has a debt-to-equity ratio of 2.05, a quick ratio of 2.84 and a current ratio of 3.08.
Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, October 30th. The medical research company reported $3.69 EPS for the quarter, beating analysts’ consensus estimates of $3.45 by $0.24. The company had revenue of $5.90 billion for the quarter, compared to analyst estimates of $5.78 billion. Amgen had a return on equity of 54.14% and a net margin of 9.44%. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the company posted $3.27 earnings per share. Analysts predict that Amgen, Inc. will post 14.24 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 8th. Stockholders of record on Friday, February 15th will be issued a $1.45 dividend. This represents a $5.80 dividend on an annualized basis and a dividend yield of 3.03%. This is a positive change from Amgen’s previous quarterly dividend of $1.32. Amgen’s payout ratio is 41.97%.
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Amgen Company Profile
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, nephrology, and neuroscience. The company's products include Evenity to treat osteoporosis in postmenopausal women; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Repatha to treat coronary diseases; Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Parsabiv to treat secondary hyperparathyroidism (sHPT); and Aimovig for the prevention of migraine.
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