Burns J W & Co. Inc. NY trimmed its stake in Amgen Inc. (NASDAQ:AMGN – Free Report) by 3.1% in the second quarter, HoldingsChannel reports. The firm owned 22,823 shares of the medical research company’s stock after selling 741 shares during the period. Burns J W & Co. Inc. NY’s holdings in Amgen were worth $5,067,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in the business. Birch Capital Management LLC raised its position in Amgen by 1.9% in the second quarter. Birch Capital Management LLC now owns 24,668 shares of the medical research company’s stock worth $5,477,000 after acquiring an additional 453 shares during the period. Platform Technology Partners raised its holdings in Amgen by 2.1% in the 2nd quarter. Platform Technology Partners now owns 5,428 shares of the medical research company’s stock worth $1,215,000 after purchasing an additional 113 shares in the last quarter. First Bank & Trust grew its position in Amgen by 71.7% during the 2nd quarter. First Bank & Trust now owns 11,060 shares of the medical research company’s stock valued at $2,456,000 after purchasing an additional 4,620 shares during the last quarter. Pasadena Private Wealth LLC bought a new position in Amgen during the 2nd quarter valued at about $583,000. Finally, Ignite Planners LLC raised its stake in Amgen by 3.2% during the 2nd quarter. Ignite Planners LLC now owns 1,753 shares of the medical research company’s stock worth $383,000 after acquiring an additional 55 shares during the period. 74.44% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, EVP Murdo Gordon sold 9,558 shares of the company’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $262.43, for a total transaction of $2,508,305.94. Following the transaction, the executive vice president now owns 44,308 shares of the company’s stock, valued at $11,627,748.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.57% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
Amgen Trading Up 0.9 %
NASDAQ:AMGN opened at $263.15 on Tuesday. The firm has a market cap of $140.76 billion, a P/E ratio of 17.74, a PEG ratio of 3.28 and a beta of 0.61. The company has a current ratio of 2.77, a quick ratio of 2.48 and a debt-to-equity ratio of 8.76. The stock’s 50 day simple moving average is $248.12 and its 200-day simple moving average is $237.72. Amgen Inc. has a 12-month low of $211.71 and a 12-month high of $296.67.
Amgen (NASDAQ:AMGN – Get Free Report) last released its earnings results on Thursday, August 3rd. The medical research company reported $5.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.44 by $0.56. The business had revenue of $7 billion for the quarter, compared to analyst estimates of $6.66 billion. Amgen had a return on equity of 196.60% and a net margin of 30.02%. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.65 earnings per share. Equities analysts anticipate that Amgen Inc. will post 18.35 EPS for the current year.
Amgen Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Friday, August 18th were issued a dividend of $2.13 per share. This represents a $8.52 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date was Thursday, August 17th. Amgen’s dividend payout ratio is presently 57.45%.
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology, and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta that reduces the chance of infection due a low white blood cell count in patients cancer; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; and Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization.
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