Renaissance Investment Group LLC bought a new stake in Amgen, Inc. (NASDAQ:AMGN) in the first quarter, HoldingsChannel.com reports. The institutional investor bought 1,673 shares of the medical research company’s stock, valued at approximately $318,000.
A number of other institutional investors also recently modified their holdings of the business. Ruggie Capital Group increased its stake in shares of Amgen by 297.1% during the 4th quarter. Ruggie Capital Group now owns 135 shares of the medical research company’s stock worth $26,000 after purchasing an additional 101 shares in the last quarter. Capital Financial Planning LLC purchased a new position in shares of Amgen during the 4th quarter worth approximately $27,000. Massey Quick Simon & CO. LLC increased its stake in shares of Amgen by 710.5% during the 4th quarter. Massey Quick Simon & CO. LLC now owns 154 shares of the medical research company’s stock worth $30,000 after purchasing an additional 135 shares in the last quarter. Next Capital Management LLC purchased a new position in shares of Amgen during the 4th quarter worth approximately $33,000. Finally, Essex Investment Management Co. LLC purchased a new position in shares of Amgen during the 4th quarter worth approximately $39,000. 78.01% of the stock is owned by institutional investors.
AMGN has been the subject of a number of recent research reports. Zacks Investment Research raised shares of Amgen from a “hold” rating to a “buy” rating and set a $215.00 price objective for the company in a research note on Tuesday, April 2nd. BidaskClub cut shares of Amgen from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, January 29th. Oppenheimer set a $224.00 target price on shares of Amgen and gave the stock a “buy” rating in a research note on Sunday, January 27th. Mizuho reaffirmed a “buy” rating and issued a $211.00 target price on shares of Amgen in a research note on Wednesday, February 13th. Finally, Cowen reaffirmed a “buy” rating and issued a $234.00 target price on shares of Amgen in a research note on Tuesday, February 26th. One analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $209.05.
AMGN stock opened at $172.11 on Friday. The company has a market capitalization of $103.50 billion, a price-to-earnings ratio of 11.95, a PEG ratio of 2.24 and a beta of 1.15. The company has a debt-to-equity ratio of 2.71, a current ratio of 2.77 and a quick ratio of 2.53. Amgen, Inc. has a one year low of $166.30 and a one year high of $210.19.
Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, April 30th. The medical research company reported $3.56 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.45 by $0.11. The company had revenue of $5.56 billion for the quarter, compared to analyst estimates of $5.55 billion. Amgen had a net margin of 34.00% and a return on equity of 71.02%. Amgen’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter last year, the business earned $3.47 EPS. As a group, sell-side analysts expect that Amgen, Inc. will post 13.94 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be issued a $1.45 dividend. The ex-dividend date is Thursday, May 16th. This represents a $5.80 dividend on an annualized basis and a dividend yield of 3.37%. Amgen’s dividend payout ratio (DPR) is presently 40.28%.
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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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