River Road Asset Management LLC cut its holdings in Amgen Inc. (NASDAQ:AMGN) by 1.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 380,444 shares of the medical research company’s stock after selling 5,738 shares during the period. Amgen accounts for 1.3% of River Road Asset Management LLC’s holdings, making the stock its 20th biggest holding. River Road Asset Management LLC owned 0.05% of Amgen worth $65,524,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of AMGN. Bank of New York Mellon Corp raised its holdings in shares of Amgen by 2.3% during the 1st quarter. Bank of New York Mellon Corp now owns 8,555,356 shares of the medical research company’s stock worth $1,403,676,000 after acquiring an additional 195,200 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Amgen by 2.5% during the 2nd quarter. Legal & General Group Plc now owns 3,721,359 shares of the medical research company’s stock worth $640,938,000 after acquiring an additional 90,615 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in shares of Amgen by 2.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 2,962,595 shares of the medical research company’s stock worth $510,248,000 after acquiring an additional 67,815 shares in the last quarter. UBS Asset Management Americas Inc. raised its holdings in shares of Amgen by 3.1% during the 1st quarter. UBS Asset Management Americas Inc. now owns 2,719,874 shares of the medical research company’s stock worth $446,250,000 after acquiring an additional 81,362 shares in the last quarter. Finally, Swiss National Bank raised its holdings in shares of Amgen by 26.5% during the 1st quarter. Swiss National Bank now owns 2,636,008 shares of the medical research company’s stock worth $432,490,000 after acquiring an additional 551,600 shares in the last quarter. 78.20% of the stock is currently owned by institutional investors.
In related news, EVP Sean E. Harper sold 1,525 shares of the company’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $171.58, for a total transaction of $261,659.50. Following the completion of the sale, the executive vice president now directly owns 57,631 shares in the company, valued at approximately $9,888,326.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Carbonnel Francois De sold 4,000 shares of the company’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $173.61, for a total value of $694,440.00. The disclosure for this sale can be found here. Insiders have sold a total of 7,050 shares of company stock worth $1,239,673 in the last three months. Corporate insiders own 0.19% of the company’s stock.
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AMGN has been the topic of several recent research reports. Bank of America Corporation upped their price objective on Amgen to $210.00 and gave the stock a “buy” rating in a report on Thursday, October 5th. Zacks Investment Research raised Amgen from a “hold” rating to a “buy” rating and set a $199.00 price objective on the stock in a report on Friday, October 27th. Barclays PLC upped their price objective on Amgen from $180.00 to $190.00 and gave the stock an “equal weight” rating in a report on Friday, October 13th. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and set a $203.00 price objective on shares of Amgen in a report on Thursday, September 7th. Finally, Royal Bank Of Canada started coverage on Amgen in a report on Thursday, September 14th. They set a “sector perform” rating and a $192.00 price objective on the stock. Thirteen analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $190.03.
Amgen Inc. (NASDAQ AMGN) opened at $170.13 on Wednesday. Amgen Inc. has a 12-month low of $138.83 and a 12-month high of $191.10. The company has a debt-to-equity ratio of 1.05, a quick ratio of 5.72 and a current ratio of 6.07. The stock has a market capitalization of $124,493.66, a price-to-earnings ratio of 13.63, a PEG ratio of 2.48 and a beta of 1.37.
Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Wednesday, October 25th. The medical research company reported $3.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.11 by $0.16. Amgen had a return on equity of 29.90% and a net margin of 35.54%. The business had revenue of $5.77 billion for the quarter, compared to the consensus estimate of $5.75 billion. During the same quarter in the prior year, the company earned $3.02 EPS. The business’s revenue was down .7% compared to the same quarter last year. research analysts forecast that Amgen Inc. will post 12.66 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 17th will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date is Thursday, November 16th. Amgen’s payout ratio is 41.63%.
Amgen announced that its Board of Directors has authorized a share repurchase program on Wednesday, October 25th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the medical research company to repurchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
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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