Twin Capital Management Inc. Reduces Holdings in Amgen, Inc. (NASDAQ:AMGN)

Twin Capital Management Inc. trimmed its position in shares of Amgen, Inc. (NASDAQ:AMGN) by 35.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 62,525 shares of the medical research company’s stock after selling 34,942 shares during the quarter. Twin Capital Management Inc.’s holdings in Amgen were worth $11,522,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Amgen during the fourth quarter worth $1,283,248,000. Thoroughbred Financial Services LLC lifted its position in shares of Amgen by 19,447.3% during the second quarter. Thoroughbred Financial Services LLC now owns 1,805,392 shares of the medical research company’s stock worth $180,539,000 after purchasing an additional 1,796,156 shares during the last quarter. Ellis Investment Partners LLC lifted its position in shares of Amgen by 18,906.7% during the first quarter. Ellis Investment Partners LLC now owns 605,934 shares of the medical research company’s stock worth $605,000 after purchasing an additional 602,746 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Amgen by 5.8% during the fourth quarter. Geode Capital Management LLC now owns 8,850,224 shares of the medical research company’s stock worth $1,720,250,000 after purchasing an additional 482,760 shares during the last quarter. Finally, First Trust Advisors LP lifted its position in shares of Amgen by 37.3% during the second quarter. First Trust Advisors LP now owns 1,196,708 shares of the medical research company’s stock worth $220,529,000 after purchasing an additional 325,404 shares during the last quarter. 78.96% of the stock is owned by institutional investors.

Several analysts have recently weighed in on the company. Cowen reiterated a “buy” rating and set a $229.00 target price on shares of Amgen in a research report on Wednesday, May 1st. Citigroup reiterated a “buy” rating on shares of Amgen in a research report on Monday. JPMorgan Chase & Co. reiterated a “hold” rating on shares of Amgen in a research report on Friday, August 9th. Evercore ISI reiterated a “hold” rating on shares of Amgen in a research report on Sunday. Finally, Oppenheimer lifted their target price on Amgen from $210.00 to $230.00 and gave the stock an “outperform” rating in a research report on Tuesday. Nine research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $211.44.

Shares of AMGN stock traded up $1.63 on Thursday, hitting $200.50. The stock had a trading volume of 97,997 shares, compared to its average volume of 3,546,323. The company has a debt-to-equity ratio of 2.58, a quick ratio of 2.60 and a current ratio of 2.89. The business has a 50 day moving average price of $183.21. The company has a market capitalization of $119.83 billion, a P/E ratio of 13.94, a PEG ratio of 2.42 and a beta of 1.19. Amgen, Inc. has a one year low of $166.30 and a one year high of $211.90.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, July 30th. The medical research company reported $3.97 earnings per share for the quarter, beating the consensus estimate of $3.58 by $0.39. The firm had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.67 billion. Amgen had a return on equity of 76.17% and a net margin of 33.78%. The firm’s quarterly revenue was down 3.1% on a year-over-year basis. During the same period in the previous year, the company posted $3.83 earnings per share. On average, research analysts predict that Amgen, Inc. will post 14.25 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Thursday, August 15th will be issued a $1.45 dividend. The ex-dividend date is Wednesday, August 14th. This represents a $5.80 annualized dividend and a dividend yield of 2.89%. Amgen’s payout ratio is currently 40.28%.

In other Amgen news, Director R Sanders Williams sold 425 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $183.04, for a total value of $77,792.00. Following the completion of the transaction, the director now directly owns 16,336 shares in the company, valued at $2,990,141.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ronald D. Sugar sold 2,000 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $187.58, for a total transaction of $375,160.00. Following the completion of the transaction, the director now owns 16,336 shares of the company’s stock, valued at $3,064,306.88. The disclosure for this sale can be found here. Insiders sold 4,425 shares of company stock valued at $804,312 over the last 90 days. 0.25% of the stock is currently owned by corporate insiders.

Amgen 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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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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