Paradigm Capital Management LLC NV Has $1.14 Million Stock Position in Amgen Inc. $AMGN

Paradigm Capital Management LLC NV lifted its stake in Amgen Inc. (NASDAQ:AMGN) by 2.7% in the first quarter, HoldingsChannel reports. The firm owned 3,670 shares of the medical research company’s stock after purchasing an additional 95 shares during the period. Amgen accounts for 1.2% of Paradigm Capital Management LLC NV’s holdings, making the stock its 24th biggest position. Paradigm Capital Management LLC NV’s holdings in Amgen were worth $1,144,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of AMGN. GAMMA Investing LLC boosted its position in Amgen by 43,573.5% during the 1st quarter. GAMMA Investing LLC now owns 3,661,589 shares of the medical research company’s stock worth $1,140,768,000 after acquiring an additional 3,653,205 shares during the period. Nuveen LLC acquired a new stake in Amgen during the 1st quarter worth about $688,868,000. Northern Trust Corp raised its stake in shares of Amgen by 15.8% during the 4th quarter. Northern Trust Corp now owns 6,431,029 shares of the medical research company’s stock worth $1,676,183,000 after purchasing an additional 875,254 shares in the last quarter. Two Sigma Advisers LP raised its stake in shares of Amgen by 96.9% during the 4th quarter. Two Sigma Advisers LP now owns 1,545,600 shares of the medical research company’s stock worth $402,845,000 after purchasing an additional 760,700 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Amgen during the 4th quarter worth about $193,339,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Insider Transactions at Amgen

In related news, SVP Rachna Khosla sold 1,500 shares of the firm’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total transaction of $434,520.00. Following the completion of the transaction, the senior vice president directly owned 8,162 shares of the company’s stock, valued at $2,364,368.16. This trade represents a 15.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.76% of the stock is currently owned by corporate insiders.

Amgen Stock Down 1.3%

Shares of NASDAQ:AMGN opened at $292.62 on Tuesday. The firm has a market cap of $157.54 billion, a P/E ratio of 23.93, a P/E/G ratio of 2.55 and a beta of 0.49. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $339.17. The business has a fifty day simple moving average of $293.35 and a 200 day simple moving average of $293.15.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.28 by $0.74. The business had revenue of $9.18 billion during the quarter, compared to analyst estimates of $8.86 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%. Amgen’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period last year, the company earned $4.97 EPS. Analysts predict that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 22nd will be given a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Friday, August 22nd. Amgen’s dividend payout ratio (DPR) is currently 77.84%.

Analysts Set New Price Targets

AMGN has been the topic of a number of recent analyst reports. Guggenheim started coverage on Amgen in a research note on Tuesday, May 20th. They issued a “neutral” rating and a $288.00 price objective on the stock. Cantor Fitzgerald reissued a “neutral” rating and set a $305.00 price objective on shares of Amgen in a report on Tuesday, June 24th. Erste Group Bank downgraded Amgen from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 8th. Citigroup boosted their target price on Amgen from $305.00 to $310.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 6th. Finally, Mizuho increased their target price on Amgen from $235.00 to $280.00 and gave the company a “neutral” rating in a research note on Wednesday, May 7th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $303.76.

Amgen Company Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.