Alpha Cubed Investments LLC decreased its position in shares of Amgen, Inc. (NASDAQ:AMGN) by 9.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 94,350 shares of the medical research company’s stock after selling 9,696 shares during the period. Amgen accounts for approximately 2.8% of Alpha Cubed Investments LLC’s portfolio, making the stock its 9th biggest position. Alpha Cubed Investments LLC’s holdings in Amgen were worth $18,367,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AMGN. Capital International Investors boosted its position in Amgen by 301.4% during the third quarter. Capital International Investors now owns 11,093,182 shares of the medical research company’s stock valued at $2,299,506,000 after purchasing an additional 8,329,861 shares during the last quarter. Capital World Investors acquired a new stake in Amgen during the third quarter valued at $952,900,000. FMR LLC boosted its position in Amgen by 4.4% during the third quarter. FMR LLC now owns 35,823,268 shares of the medical research company’s stock valued at $7,425,805,000 after purchasing an additional 1,505,266 shares during the last quarter. AQR Capital Management LLC boosted its position in Amgen by 36.2% during the third quarter. AQR Capital Management LLC now owns 2,907,575 shares of the medical research company’s stock valued at $602,711,000 after purchasing an additional 773,506 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. boosted its position in Amgen by 54.8% during the third quarter. Candriam Luxembourg S.C.A. now owns 1,075,050 shares of the medical research company’s stock valued at $222,847,000 after purchasing an additional 380,562 shares during the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.
In related news, SVP Cynthia M. Patton sold 1,777 shares of the business’s stock in a transaction dated Thursday, November 29th. The stock was sold at an average price of $202.88, for a total transaction of $360,517.76. Following the completion of the transaction, the senior vice president now owns 23,090 shares of the company’s stock, valued at approximately $4,684,499.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Tyler Jacks sold 20,000 shares of the business’s stock in a transaction dated Thursday, December 6th. The stock was sold at an average price of $195.41, for a total value of $3,908,200.00. Following the transaction, the director now directly owns 28,979 shares of the company’s stock, valued at approximately $5,662,786.39. The disclosure for this sale can be found here. Insiders sold 23,777 shares of company stock valued at $4,648,718 in the last ninety days. Insiders own 0.27% of the company’s stock.
Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, January 29th. The medical research company reported $3.42 earnings per share for the quarter, topping analysts’ consensus estimates of $3.26 by $0.16. Amgen had a return on equity of 66.74% and a net margin of 35.35%. The company had revenue of $6.23 billion during the quarter, compared to analysts’ expectations of $5.88 billion. During the same quarter in the previous year, the firm earned $2.89 earnings per share. As a group, analysts predict that Amgen, Inc. will post 13.93 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 8th. Shareholders of record on Friday, February 15th will be given a $1.45 dividend. The ex-dividend date of this dividend is Thursday, February 14th. This represents a $5.80 dividend on an annualized basis and a dividend yield of 3.07%. This is a boost from Amgen’s previous quarterly dividend of $1.32. Amgen’s payout ratio is currently 36.67%.
AMGN has been the subject of a number of research reports. Citigroup lifted their price objective on Amgen from $200.00 to $204.00 and gave the company a “neutral” rating in a research report on Thursday, November 1st. Royal Bank of Canada reissued a “neutral” rating and set a price objective on shares of Amgen in a research report on Monday, January 14th. Zacks Investment Research raised Amgen from a “hold” rating to a “buy” rating and set a $225.00 price objective for the company in a research report on Monday, January 14th. Goldman Sachs Group reissued a “buy” rating and set a $232.00 price objective on shares of Amgen in a research report on Tuesday, December 4th. Finally, BidaskClub cut Amgen from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, January 29th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have given a buy rating to the company. Amgen has a consensus rating of “Hold” and a consensus target price of $205.77.
Amgen Company Profile
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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