Princeton Global Asset Management LLC grew its position in shares of Amgen, Inc. (NASDAQ:AMGN) by 22.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,798 shares of the medical research company’s stock after purchasing an additional 690 shares during the period. Princeton Global Asset Management LLC’s holdings in Amgen were worth $734,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the business. Gifford Fong Associates grew its holdings in Amgen by 25.3% in the second quarter. Gifford Fong Associates now owns 67,671 shares of the medical research company’s stock valued at $12,470,000 after purchasing an additional 13,671 shares during the period. Bray Capital Advisors grew its stake in shares of Amgen by 11.6% during the 2nd quarter. Bray Capital Advisors now owns 19,676 shares of the medical research company’s stock valued at $3,626,000 after buying an additional 2,045 shares during the period. Private Advisor Group LLC grew its stake in shares of Amgen by 4.0% during the 2nd quarter. Private Advisor Group LLC now owns 38,488 shares of the medical research company’s stock valued at $7,093,000 after buying an additional 1,494 shares during the period. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Amgen during the 2nd quarter valued at $15,515,000. Finally, BHK Investment Advisors LLC increased its holdings in shares of Amgen by 3.9% during the 2nd quarter. BHK Investment Advisors LLC now owns 2,197 shares of the medical research company’s stock worth $405,000 after buying an additional 82 shares during the last quarter. 76.64% of the stock is currently owned by institutional investors.
AMGN stock traded down $0.71 during trading on Tuesday, hitting $232.77. 1,911,438 shares of the company’s stock traded hands, compared to its average volume of 2,268,911. 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 52 week low of $166.30 and a 52 week high of $235.80. The stock has a fifty day moving average price of $217.12 and a two-hundred day moving average price of $194.79. The stock has a market capitalization of $138.31 billion, a price-to-earnings ratio of 16.16, a price-to-earnings-growth ratio of 2.37 and a beta of 1.12.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be given a dividend of $1.45 per share. The ex-dividend date is Thursday, November 14th. This represents a $5.80 dividend on an annualized basis and a yield of 2.49%. Amgen’s dividend payout ratio is currently 40.28%.
Several research analysts recently weighed in on the company. BMO Capital Markets set a $240.00 target price on Amgen and gave the stock a “buy” rating in a research report on Monday, September 30th. Leerink Swann boosted their price objective 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. Cowen set a $231.00 price objective on shares of Amgen and gave the stock a “buy” rating in a research report on Sunday, September 29th. Piper Jaffray Companies increased their price objective on shares of Amgen from $210.00 to $218.00 and gave the stock an “overweight” rating in a research report on Monday, August 26th. Finally, Mizuho reissued a “hold” rating and issued a $212.00 target price on shares of Amgen in a research note on Sunday, September 29th. Ten investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $221.47.
In other Amgen news, EVP Jonathan P. Graham sold 9,000 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $230.54, for a total value of $2,074,860.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO David W. Meline sold 8,737 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $234.36, for a total value of $2,047,603.32. The disclosure for this sale can be found here. Insiders have sold a total of 22,162 shares of company stock valued at $5,014,590 in the last 90 days. 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.
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