Amgen, Inc. (AMGN) Position Trimmed by Copeland Capital Management LLC

Copeland Capital Management LLC trimmed its position in shares of Amgen, Inc. (NASDAQ:AMGN) by 1.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,180 shares of the medical research company’s stock after selling 402 shares during the period. Copeland Capital Management LLC’s holdings in Amgen were worth $6,878,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kwmg LLC acquired a new stake in Amgen during the 2nd quarter valued at $108,000. Mainstay Capital Management LLC ADV bought a new position in Amgen during the 2nd quarter valued at $111,000. Polaris Greystone Financial Group LLC bought a new position in Amgen during the 3rd quarter valued at $166,000. SignalPoint Asset Management LLC bought a new position in Amgen during the 3rd quarter valued at $205,000. Finally, Grassi Investment Management bought a new position in Amgen during the 3rd quarter valued at $212,000. 82.37% of the stock is owned by institutional investors and hedge funds.

Amgen stock opened at $193.16 on Friday. The company has a debt-to-equity ratio of 2.05, a quick ratio of 2.84 and a current ratio of 3.08. Amgen, Inc. has a 1 year low of $163.31 and a 1 year high of $210.19. The stock has a market capitalization of $121.55 billion, a PE ratio of 15.35, a price-to-earnings-growth ratio of 1.98 and a beta of 1.37.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, October 30th. The medical research company reported $3.69 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.45 by $0.24. Amgen had a net margin of 9.44% and a return on equity of 54.14%. The company had revenue of $5.90 billion for the quarter, compared to the consensus estimate of $5.78 billion. During the same period last year, the firm posted $3.27 EPS. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, research analysts expect that Amgen, Inc. will post 14.24 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 7th. Stockholders of record on Friday, November 16th will be given a $1.32 dividend. The ex-dividend date is Thursday, November 15th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 2.73%. Amgen’s payout ratio is currently 41.97%.

A number of research analysts have commented on the stock. Oppenheimer reiterated a “buy” rating and set a $224.00 price objective on shares of Amgen in a research note on Tuesday, October 2nd. Jefferies Financial Group reiterated a “buy” rating and set a $220.00 price objective on shares of Amgen in a research note on Friday, August 24th. Morgan Stanley increased their price objective on shares of Amgen from $210.00 to $212.00 and gave the company an “overweight” rating in a research note on Thursday, October 11th. Leerink Swann set a $209.00 price objective on shares of Amgen and gave the company a “hold” rating in a research note on Monday, September 17th. Finally, Cantor Fitzgerald reiterated a “hold” rating and set a $223.00 price objective on shares of Amgen in a research note on Wednesday, October 31st. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $204.55.

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About Amgen

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, nephrology, and neuroscience. The company's products include Evenity to treat osteoporosis in postmenopausal women; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Repatha to treat coronary diseases; Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Parsabiv to treat secondary hyperparathyroidism (sHPT); and Aimovig for the prevention of migraine.

Further Reading: Outstanding Shares

Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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