Essex Financial Services Inc. lowered its stake in Amgen, Inc. (NASDAQ:AMGN) by 80.3% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,921 shares of the medical research company’s stock after selling 40,328 shares during the quarter. Essex Financial Services Inc.’s holdings in Amgen were worth $1,920,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in AMGN. Advisors Preferred LLC bought a new stake in Amgen during the 2nd quarter valued at $30,000. Arbor Wealth Management LLC increased its stake in Amgen by 154.5% during the 2nd quarter. Arbor Wealth Management LLC now owns 168 shares of the medical research company’s stock valued at $31,000 after purchasing an additional 102 shares in the last quarter. Atwater Malick LLC bought a new stake in Amgen during the 3rd quarter valued at $39,000. Ashburton Jersey Ltd bought a new stake in Amgen during the 2nd quarter valued at $42,000. Finally, Sound Income Strategies LLC increased its stake in Amgen by 402.1% during the 2nd quarter. Sound Income Strategies LLC now owns 236 shares of the medical research company’s stock valued at $43,000 after purchasing an additional 189 shares in the last quarter. Institutional investors own 76.33% of the company’s stock.
Shares of NASDAQ AMGN traded up $3.12 during trading on Friday, hitting $221.11. The stock had a trading volume of 2,069,900 shares, compared to its average volume of 2,911,719. Amgen, Inc. has a 12 month low of $166.30 and a 12 month high of $221.25. The company has a debt-to-equity ratio of 2.54, a current ratio of 2.89 and a quick ratio of 2.59. The company has a market capitalization of $127.80 billion, a PE ratio of 15.35, a PEG ratio of 2.21 and a beta of 1.09. The firm has a fifty day moving average of $202.75 and a two-hundred day moving average of $188.90.
Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, October 29th. The medical research company reported $3.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.53 by $0.13. The company had revenue of $5.74 billion for the quarter, compared to the consensus estimate of $5.63 billion. Amgen had a net margin of 34.48% and a return on equity of 80.26%. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the previous year, the firm earned $3.69 EPS. On average, equities analysts expect that Amgen, Inc. will post 14.44 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be issued a $1.45 dividend. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend is Thursday, November 14th. Amgen’s dividend payout ratio (DPR) is currently 40.28%.
AMGN has been the subject of a number of recent research reports. Mizuho restated a “hold” rating and set a $212.00 price target on shares of Amgen in a research note on Sunday, September 29th. Credit Suisse Group restated an “outperform” rating and set a $225.00 price target (up previously from $202.00) on shares of Amgen in a research note on Friday, August 16th. Wells Fargo & Co restated a “market perform” rating and set a $220.00 price target (up previously from $202.00) on shares of Amgen in a research note on Tuesday, August 27th. They noted that the move was a valuation call. Leerink Swann upped their target price on shares of Amgen from $189.00 to $205.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. Finally, Goldman Sachs Group set a $243.00 target price on shares of Amgen and gave the stock a “buy” rating in a research note on Monday, September 30th. Ten analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Amgen has a consensus rating of “Buy” and an average target price of $219.56.
In related news, Director Ronald D. Sugar sold 2,000 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $193.58, for a total value of $387,160.00. Following the transaction, the director now directly owns 16,436 shares of the company’s stock, valued at approximately $3,181,680.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Cynthia M. Patton sold 13,426 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $208.07, for a total transaction of $2,793,547.82. Following the completion of the transaction, the senior vice president now directly owns 32,648 shares in the company, valued at $6,793,069.36. The disclosure for this sale can be found here. Insiders sold a total of 17,851 shares of company stock worth $3,685,674 over the last three months. 0.25% of the stock is owned by insiders.
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, and neuroscience. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Aranesp to treat anemia; Xgeva for skeletal-related events prevention; Sensipar/Mimpara products to treat sHPT in chronic kidney disease; and EPOGEN to treat a lower-than-normal number of red blood cells.
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