Sapphire Star Partners LP Has $3.78 Million Position in Amgen (AMGN)

Sapphire Star Partners LP decreased its holdings in Amgen (NASDAQ:AMGN) by 24.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,723 shares of the medical research company’s stock after selling 7,100 shares during the quarter. Amgen accounts for about 4.5% of Sapphire Star Partners LP’s investment portfolio, making the stock its 2nd largest position. Sapphire Star Partners LP’s holdings in Amgen were worth $3,778,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. South Texas Money Management Ltd. boosted its holdings in shares of Amgen by 0.7% in the second quarter. South Texas Money Management Ltd. now owns 3,223 shares of the medical research company’s stock worth $555,000 after buying an additional 22 shares during the last quarter. Glenview Trust Co boosted its holdings in shares of Amgen by 0.4% in the second quarter. Glenview Trust Co now owns 6,137 shares of the medical research company’s stock worth $1,057,000 after buying an additional 25 shares during the last quarter. Roberts Glore & Co. Inc. IL boosted its holdings in shares of Amgen by 0.4% in the second quarter. Roberts Glore & Co. Inc. IL now owns 7,425 shares of the medical research company’s stock worth $1,279,000 after buying an additional 27 shares during the last quarter. Salem Investment Counselors Inc. boosted its holdings in shares of Amgen by 4.7% in the second quarter. Salem Investment Counselors Inc. now owns 809 shares of the medical research company’s stock worth $139,000 after buying an additional 36 shares during the last quarter. Finally, Keel Point LLC boosted its holdings in shares of Amgen by 1.2% in the second quarter. Keel Point LLC now owns 3,509 shares of the medical research company’s stock worth $604,000 after buying an additional 43 shares during the last quarter. 79.54% of the stock is currently owned by institutional investors.

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In other news, EVP Sean E. Harper sold 1,525 shares of Amgen stock in a transaction that occurred on Friday, March 16th. The shares were sold at an average price of $189.75, for a total transaction of $289,368.75. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last quarter, insiders have sold 4,575 shares of company stock worth $818,330. Company insiders own 0.19% of the company’s stock.

AMGN has been the topic of a number of research reports. Zacks Investment Research raised shares of Amgen from a “hold” rating to a “buy” rating and set a $194.00 price objective on the stock in a report on Thursday, April 5th. Morgan Stanley lowered their price target on shares of Amgen from $204.00 to $196.00 and set an “overweight” rating on the stock in a report on Friday, February 2nd. Vetr raised shares of Amgen from a “sell” rating to a “hold” rating and set a $181.60 price target on the stock in a report on Tuesday, February 27th. Oppenheimer reaffirmed a “buy” rating and set a $205.00 price target on shares of Amgen in a report on Tuesday, January 30th. Finally, Piper Jaffray reaffirmed a “buy” rating on shares of Amgen in a report on Tuesday, January 2nd. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and ten have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $190.57.

Amgen stock opened at $172.93 on Friday. The company has a market cap of $116,867.15, a PE ratio of 13.75, a P/E/G ratio of 2.14 and a beta of 1.36. The company has a current ratio of 5.49, a quick ratio of 5.17 and a debt-to-equity ratio of 1.35. Amgen has a 1 year low of $152.16 and a 1 year high of $201.23.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Thursday, February 1st. The medical research company reported $2.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.03 by ($0.14). The company had revenue of $5.80 billion for the quarter, compared to the consensus estimate of $5.84 billion. Amgen had a net margin of 8.66% and a return on equity of 30.87%. The company’s quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.89 EPS. analysts anticipate that Amgen will post 13.28 earnings per share for the current fiscal year.

Amgen announced that its Board of Directors has authorized a stock repurchase program on Thursday, February 1st that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the medical research company to reacquire shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 8th. Stockholders of record on Thursday, May 17th will be given a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a dividend yield of 3.05%. The ex-dividend date is Wednesday, May 16th. Amgen’s payout ratio is currently 41.97%.

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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.

Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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