Davidson Investment Advisors Boosts Stake in Amgen, Inc. (NASDAQ:AMGN)

Davidson Investment Advisors increased its stake in shares of Amgen, Inc. (NASDAQ:AMGN) by 0.2% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 51,368 shares of the medical research company’s stock after purchasing an additional 104 shares during the period. Davidson Investment Advisors’ holdings in Amgen were worth $9,940,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Advisors Preferred LLC acquired a new stake in Amgen during the 2nd quarter worth $30,000. Arbor Wealth Management LLC raised its stake in Amgen by 154.5% during the 2nd quarter. Arbor Wealth Management LLC now owns 168 shares of the medical research company’s stock worth $31,000 after acquiring an additional 102 shares in the last quarter. Atwater Malick LLC acquired a new stake in Amgen during the 3rd quarter worth $39,000. Ashburton Jersey Ltd acquired a new stake in Amgen during the 2nd quarter worth $42,000. Finally, Sound Income Strategies LLC raised its stake in Amgen by 402.1% during the 2nd quarter. Sound Income Strategies LLC now owns 236 shares of the medical research company’s stock worth $43,000 after acquiring an additional 189 shares in the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts have commented on the stock. JPMorgan Chase & Co. restated a “hold” rating on shares of Amgen in a research note on Monday, September 30th. Cantor Fitzgerald upgraded shares of Amgen from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $230.00 to $255.00 in a research note on Tuesday, November 5th. BidaskClub upgraded shares of Amgen from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Wells Fargo & Co restated a “market perform” rating and issued a $220.00 price objective (up from $202.00) on shares of Amgen in a research note on Tuesday, August 27th. They noted that the move was a valuation call. Finally, Evercore ISI restated a “hold” rating on shares of Amgen in a research note on Sunday, August 11th. Ten research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $221.47.

In related news, Director R Sanders Williams sold 425 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $215.45, for a total transaction of $91,566.25. Following the sale, the director now owns 5,413 shares of the company’s stock, valued at $1,166,230.85. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ronald D. Sugar sold 2,000 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $206.70, for a total transaction of $413,400.00. Following the sale, the director now directly owns 16,336 shares in the company, valued at approximately $3,376,651.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,851 shares of company stock worth $3,685,674. Insiders own 0.25% of the company’s stock.

Shares of NASDAQ:AMGN traded up $2.74 during midday trading on Tuesday, hitting $223.44. The stock had a trading volume of 12,963 shares, compared to its average volume of 2,318,789. The company has a market capitalization of $131.38 billion, a PE ratio of 15.42, a P/E/G ratio of 2.27 and a beta of 1.09. The stock has a 50 day moving average price of $203.70 and a two-hundred day moving average price of $189.34. The company has a current ratio of 2.89, a quick ratio of 2.59 and a debt-to-equity ratio of 2.54. Amgen, Inc. has a 1 year low of $166.30 and a 1 year high of $221.38.

Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, October 29th. The medical research company reported $3.66 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.53 by $0.13. The business had revenue of $5.74 billion for the quarter, compared to the consensus estimate of $5.63 billion. Amgen had a net margin of 34.48% and a return on equity of 80.26%. The business’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.69 earnings per share. As a group, equities analysts expect that Amgen, Inc. will post 14.44 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be issued a $1.45 dividend. This represents a $5.80 annualized dividend and a dividend yield of 2.60%. The ex-dividend date of this dividend is Thursday, November 14th. Amgen’s payout ratio is 40.28%.

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, 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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