GW&K Investment Management LLC increased its stake in shares of Amgen, Inc. (NASDAQ:AMGN) by 0.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 196,818 shares of the medical research company’s stock after acquiring an additional 662 shares during the period. GW&K Investment Management LLC’s holdings in Amgen were worth $38,086,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the stock. BlackRock Inc. grew its position in Amgen by 3.4% in the second quarter. BlackRock Inc. now owns 47,717,316 shares of the medical research company’s stock valued at $8,793,346,000 after purchasing an additional 1,585,911 shares in the last quarter. Morgan Stanley grew its position in Amgen by 0.5% in the second quarter. Morgan Stanley now owns 6,753,145 shares of the medical research company’s stock valued at $1,244,470,000 after purchasing an additional 34,674 shares in the last quarter. Nuveen Asset Management LLC grew its position in Amgen by 1,334.9% in the second quarter. Nuveen Asset Management LLC now owns 4,942,807 shares of the medical research company’s stock valued at $910,860,000 after purchasing an additional 4,598,329 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Amgen by 9.4% in the second quarter. Price T Rowe Associates Inc. MD now owns 2,780,461 shares of the medical research company’s stock valued at $512,383,000 after purchasing an additional 239,576 shares in the last quarter. Finally, Putnam Investments LLC grew its position in shares of Amgen by 8.9% in the 2nd quarter. Putnam Investments LLC now owns 1,851,073 shares of the medical research company’s stock valued at $341,116,000 after acquiring an additional 151,910 shares during the period. 76.33% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have recently commented on AMGN. BMO Capital Markets set a $240.00 price objective on shares of Amgen and gave the company a “buy” rating in a research report on Monday, September 30th. Cowen set a $231.00 price objective on shares of Amgen and gave the company a “buy” rating in a research report on Sunday, September 29th. Cantor Fitzgerald raised shares of Amgen from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $230.00 to $255.00 in a research report on Tuesday, November 5th. Mizuho reissued a “hold” rating and issued a $212.00 price objective on shares of Amgen in a research report on Sunday, September 29th. Finally, BidaskClub raised shares of Amgen from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Ten equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $219.56.
Shares of NASDAQ AMGN traded up $3.12 during mid-day trading on Friday, reaching $221.11. 2,069,900 shares of the company were exchanged, compared to its average volume of 2,911,719. The company’s 50-day simple moving average is $202.75 and its 200-day simple moving average is $188.90. The stock has a market capitalization of $127.80 billion, a P/E ratio of 15.35, a P/E/G ratio of 2.21 and a beta of 1.09. 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, Inc. has a twelve month low of $166.30 and a twelve month high of $221.25.
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 consensus estimate of $3.53 by $0.13. The company had revenue of $5.74 billion during the quarter, compared to analysts’ expectations of $5.63 billion. Amgen had a net margin of 34.48% and a return on equity of 80.26%. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the previous year, the company earned $3.69 EPS. As a group, equities research analysts expect that Amgen, Inc. will post 14.44 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be given a $1.45 dividend. This represents a $5.80 annualized dividend and a dividend yield of 2.62%. The ex-dividend date of this dividend is Thursday, November 14th. Amgen’s payout ratio is presently 40.28%.
In other news, Director Ronald D. Sugar sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $193.58, for a total value of $387,160.00. Following the completion of the transaction, the director now directly owns 16,436 shares in the company, valued at approximately $3,181,680.88. The sale was disclosed in a 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 that occurred on Friday, August 30th. The shares were 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 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 a total of 17,851 shares of company stock valued at $3,685,674 over the last 90 days. Corporate insiders own 0.25% of the company’s stock.
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.
Further Reading: What is operating income?
Receive News & Ratings for Amgen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amgen and related companies with MarketBeat.com's FREE daily email newsletter.