Principle Wealth Partners LLC boosted its position in shares of Amgen, Inc. (NASDAQ:AMGN) by 574.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 57,902 shares of the medical research company’s stock after buying an additional 49,312 shares during the quarter. Amgen accounts for approximately 3.9% of Principle Wealth Partners LLC’s investment portfolio, making the stock its 4th largest position. Principle Wealth Partners LLC’s holdings in Amgen were worth $11,205,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of AMGN. Gifford Fong Associates lifted its position in shares of Amgen by 25.3% during the second quarter. Gifford Fong Associates now owns 67,671 shares of the medical research company’s stock worth $12,470,000 after purchasing an additional 13,671 shares during the last quarter. Bray Capital Advisors lifted its position in shares of Amgen by 11.6% during the second quarter. Bray Capital Advisors now owns 19,676 shares of the medical research company’s stock worth $3,626,000 after purchasing an additional 2,045 shares during the last quarter. CHICAGO TRUST Co NA lifted its position in shares of Amgen by 2.8% during the second quarter. CHICAGO TRUST Co NA now owns 3,716 shares of the medical research company’s stock worth $685,000 after purchasing an additional 100 shares during the last quarter. Private Advisor Group LLC lifted its position in shares of Amgen by 4.0% during the second quarter. Private Advisor Group LLC now owns 38,488 shares of the medical research company’s stock worth $7,093,000 after purchasing an additional 1,494 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new stake in shares of Amgen during the second quarter worth $15,515,000. 76.33% of the stock is owned by institutional investors.
In other Amgen news, Director R Sanders Williams sold 425 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $215.45, for a total value of $91,566.25. Following the completion of the transaction, the director now directly owns 5,413 shares of the company’s stock, valued at $1,166,230.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Cynthia M. Patton sold 13,426 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $208.07, for a total value of $2,793,547.82. Following the completion of the transaction, the senior vice president now directly owns 32,648 shares of the company’s stock, valued at $6,793,069.36. The disclosure for this sale can be found here. Insiders sold 17,851 shares of company stock valued at $3,685,674 over the last three months. 0.25% of the stock is currently owned by corporate insiders.
Several analysts have recently weighed in on AMGN shares. Mizuho reiterated a “hold” rating and set a $212.00 target price on shares of Amgen in a research report on Sunday, September 29th. Credit Suisse Group reiterated an “outperform” rating and set a $225.00 target price (up from $202.00) on shares of Amgen in a research report on Friday, August 16th. Leerink Swann lifted their price objective on Amgen from $189.00 to $205.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. William Blair restated a “hold” rating on shares of Amgen in a report on Friday, August 30th. Finally, Bank of America began coverage on Amgen in a report on Wednesday, October 16th. They issued a “neutral” rating and a $215.00 price objective for the company. Ten research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $219.56.
Shares of AMGN stock traded up $3.12 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. The business has a 50 day moving average price of $202.75 and a 200 day moving average price of $188.90. The company has a market cap of $127.80 billion, a PE ratio of 15.35, a P/E/G ratio of 2.21 and a beta of 1.09. Amgen, Inc. has a one year low of $166.30 and a one year high of $221.25. The company has a quick ratio of 2.59, a current ratio of 2.89 and a debt-to-equity ratio of 2.54.
Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, October 29th. The medical research company reported $3.66 EPS for the quarter, beating the Zacks’ consensus estimate of $3.53 by $0.13. The firm had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.63 billion. Amgen had a return on equity of 80.26% and a net margin of 34.48%. Amgen’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.69 earnings per share. Equities research analysts expect that Amgen, Inc. will post 14.44 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders 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 yield of 2.62%. The ex-dividend date of this dividend is Thursday, November 14th. Amgen’s payout ratio is presently 40.28%.
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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