Cullinan Associates Inc. Has $10.16 Million Position in Amgen, Inc. (AMGN)

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Cullinan Associates Inc. cut its holdings in Amgen, Inc. (NASDAQ:AMGN) by 0.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 52,185 shares of the medical research company’s stock after selling 433 shares during the period. Amgen accounts for 0.8% of Cullinan Associates Inc.’s investment portfolio, making the stock its 25th biggest position. Cullinan Associates Inc.’s holdings in Amgen were worth $10,159,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Arlington Partners LLC boosted its holdings in Amgen by 86.7% in the 4th quarter. Arlington Partners LLC now owns 140 shares of the medical research company’s stock worth $27,000 after buying an additional 65 shares during the period. Moody National Bank Trust Division bought a new position in Amgen in the 4th quarter worth approximately $81,000. Mainstay Capital Management LLC ADV bought a new position in Amgen in the 2nd quarter worth approximately $111,000. Polaris Greystone Financial Group LLC bought a new position in Amgen in the 3rd quarter worth approximately $166,000. Finally, Wellington Shields Capital Management LLC bought a new position in Amgen in the 3rd quarter worth approximately $202,000. 76.88% of the stock is owned by institutional investors.

Several research firms have issued reports on AMGN. Citigroup increased their target price on shares of Amgen from $204.00 to $210.00 and gave the stock a “neutral” rating in a research note on Friday, January 4th. Goldman Sachs Group reiterated a “buy” rating and issued a $221.00 target price on shares of Amgen in a research note on Wednesday, October 31st. Cantor Fitzgerald began coverage on shares of Amgen in a research note on Monday, October 1st. They issued a “neutral” rating and a $223.00 target price on the stock. Jefferies Financial Group reiterated a “buy” rating and issued a $220.00 target price on shares of Amgen in a research note on Monday, October 1st. Finally, Royal Bank of Canada reiterated a “neutral” rating on shares of Amgen in a research note on Thursday, November 1st. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $205.90.

In other news, Director Tyler Jacks sold 20,000 shares of the firm’s stock in a transaction on Thursday, December 6th. The shares were sold at an average price of $195.41, for a total transaction of $3,908,200.00. Following the sale, the director now owns 28,979 shares in the company, valued at approximately $5,662,786.39. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Cynthia M. Patton sold 1,777 shares of the firm’s stock in a transaction on Thursday, November 29th. The shares were sold at an average price of $202.88, for a total transaction of $360,517.76. Following the sale, the senior vice president now owns 23,090 shares in the company, valued at approximately $4,684,499.20. The disclosure for this sale can be found here. Company insiders own 0.27% of the company’s stock.

Shares of Amgen stock traded down $3.48 on Friday, hitting $199.20. 111,434 shares of the company traded hands, compared to its average volume of 3,032,399. The company has a debt-to-equity ratio of 2.05, a quick ratio of 2.84 and a current ratio of 3.08. The stock has a market cap of $127.68 billion, a P/E ratio of 15.85, a price-to-earnings-growth ratio of 2.05 and a beta of 1.32. Amgen, Inc. has a 12-month low of $163.31 and a 12-month high of $210.19.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, October 30th. The medical research company reported $3.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.45 by $0.24. The firm had revenue of $5.90 billion for the quarter, compared to analysts’ expectations of $5.78 billion. Amgen had a net margin of 9.44% and a return on equity of 54.14%. The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the company posted $3.27 EPS. On average, analysts predict that Amgen, Inc. will post 14.24 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 8th. Stockholders of record on Friday, February 15th will be given a dividend of $1.45 per share. The ex-dividend date is Thursday, February 14th. This represents a $5.80 annualized dividend and a dividend yield of 2.91%. This is a boost from Amgen’s previous quarterly dividend of $1.32. Amgen’s dividend payout ratio (DPR) is 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.

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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