Natixis Asset Management cut its position in Amgen (NASDAQ:AMGN) by 69.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,810 shares of the medical research company’s stock after selling 6,296 shares during the period. Natixis Asset Management’s holdings in Amgen were worth $489,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in the business. Ironvine Capital Partners LLC acquired a new position in shares of Amgen in the 4th quarter valued at $286,000. Caxton Associates LP acquired a new position in shares of Amgen in the 4th quarter valued at $1,192,000. Tekla Capital Management LLC boosted its holdings in shares of Amgen by 39.0% in the 4th quarter. Tekla Capital Management LLC now owns 862,174 shares of the medical research company’s stock valued at $149,932,000 after buying an additional 241,900 shares in the last quarter. Advisor Group Inc. boosted its holdings in shares of Amgen by 12.1% in the 4th quarter. Advisor Group Inc. now owns 73,134 shares of the medical research company’s stock valued at $12,722,000 after buying an additional 7,865 shares in the last quarter. Finally, Weil Company Inc. acquired a new position in shares of Amgen in the 4th quarter valued at $710,000. 79.54% of the stock is currently owned by institutional investors.
AMGN has been the subject of several research analyst reports. Argus upgraded shares of Amgen from a “hold” rating to a “buy” rating and upped their target price for the company from $192.33 to $220.00 in a report on Tuesday, January 23rd. Cowen restated a “buy” rating and issued a $204.00 target price on shares of Amgen in a report on Friday, February 2nd. Mizuho restated a “buy” rating and issued a $192.00 target price on shares of Amgen in a report on Thursday, February 1st. Oppenheimer restated a “buy” rating and issued a $205.00 target price on shares of Amgen in a report on Tuesday, January 30th. Finally, Piper Jaffray restated a “buy” rating on shares of Amgen in a report on Tuesday, January 2nd. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and ten have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $190.57.
Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Thursday, February 1st. The medical research company reported $2.89 EPS for the quarter, missing the Zacks’ consensus estimate of $3.03 by ($0.14). The firm had revenue of $5.80 billion for the quarter, compared to analysts’ expectations of $5.84 billion. Amgen had a return on equity of 30.87% and a net margin of 8.66%. The firm’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.89 EPS. research analysts expect that Amgen will post 13.28 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 8th. Shareholders of record on Thursday, May 17th will be given a dividend of $1.32 per share. The ex-dividend date of this dividend is Wednesday, May 16th. This represents a $5.28 dividend on an annualized basis and a yield of 3.08%. Amgen’s payout ratio is currently 41.97%.
Amgen declared that its Board of Directors has approved a share buyback program on Thursday, February 1st that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the medical research company to buy shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.
In other Amgen news, EVP Sean E. Harper sold 1,525 shares of the company’s stock in a transaction on Friday, March 16th. The shares were sold at an average price of $189.75, for a total transaction of $289,368.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders have sold 4,575 shares of company stock valued at $818,330. 0.19% of the stock is owned by insiders.
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.
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