Essex Savings Bank boosted its holdings in Amgen, Inc. (NASDAQ:AMGN) by 1.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,830 shares of the medical research company’s stock after purchasing an additional 46 shares during the quarter. Essex Savings Bank’s holdings in Amgen were worth $903,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of AMGN. Price Wealth LLC increased its holdings in Amgen by 42.9% in the second quarter. Price Wealth LLC now owns 140 shares of the medical research company’s stock worth $33,000 after purchasing an additional 42 shares in the last quarter. Lake Point Wealth Management increased its holdings in Amgen by 1,590.0% in the first quarter. Lake Point Wealth Management now owns 169 shares of the medical research company’s stock worth $34,000 after purchasing an additional 159 shares in the last quarter. Column Capital Advisors LLC grew its stake in Amgen by 98.0% in the first quarter. Column Capital Advisors LLC now owns 194 shares of the medical research company’s stock valued at $39,000 after acquiring an additional 96 shares during the period. Providence Capital Advisors LLC acquired a new stake in Amgen in the first quarter valued at approximately $47,000. Finally, Campbell Wealth Management acquired a new stake in Amgen in the second quarter valued at approximately $51,000. Institutional investors and hedge funds own 75.73% of the company’s stock.
A number of brokerages have commented on AMGN. Wells Fargo & Co raised their price objective on Amgen from $237.00 to $247.00 and gave the company an “in-line” rating in a research note on Wednesday. Jefferies Financial Group raised their price objective on Amgen from $285.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday. Mizuho reissued a “hold” rating and issued a $215.00 price objective on shares of Amgen in a research note on Thursday, April 30th. ValuEngine cut Amgen from a “hold” rating to a “sell” rating in a research note on Tuesday, May 26th. Finally, Guggenheim started coverage on Amgen in a research note on Wednesday, April 15th. They issued a “neutral” rating and a $225.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eighteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $253.15.
Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, July 28th. The medical research company reported $4.25 EPS for the quarter, topping the Zacks’ consensus estimate of $3.81 by $0.44. The business had revenue of $6.21 billion for the quarter, compared to analyst estimates of $6.19 billion. Amgen had a return on equity of 91.98% and a net margin of 30.04%. Amgen’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period last year, the company posted $3.97 earnings per share. On average, sell-side analysts forecast that Amgen, Inc. will post 15.62 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Monday, August 17th will be paid a $1.60 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $6.40 annualized dividend and a dividend yield of 2.62%. Amgen’s payout ratio is presently 43.18%.
In other Amgen news, Director Ronald D. Sugar sold 1,000 shares of the business’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $228.54, for a total value of $228,540.00. Following the sale, the director now directly owns 16,576 shares in the company, valued at $3,788,279.04. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director R Sanders Williams sold 425 shares of the business’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $237.31, for a total value of $100,856.75. Following the completion of the sale, the director now owns 5,834 shares in the company, valued at $1,384,466.54. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,425 shares of company stock worth $818,457. Corporate insiders own 0.36% 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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