Tiverton Asset Management LLC Lowers Holdings in Amgen, Inc. (NASDAQ:AMGN)

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Tiverton Asset Management LLC lowered its stake in shares of Amgen, Inc. (NASDAQ:AMGN) by 11.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,688 shares of the medical research company’s stock after selling 214 shares during the quarter. Tiverton Asset Management LLC’s holdings in Amgen were worth $311,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Advisors Preferred LLC purchased a new stake in shares of Amgen during the 2nd quarter valued at $30,000. Arbor Wealth Management LLC boosted its holdings in Amgen by 154.5% in the second quarter. Arbor Wealth Management LLC now owns 168 shares of the medical research company’s stock valued at $31,000 after acquiring an additional 102 shares during the last quarter. C J Advisory Inc acquired a new position in Amgen in the first quarter valued at $40,000. Ashburton Jersey Ltd purchased a new stake in Amgen during the second quarter valued at about $42,000. Finally, Sound Income Strategies LLC grew its position in Amgen by 402.1% during the second quarter. Sound Income Strategies LLC now owns 236 shares of the medical research company’s stock valued at $43,000 after acquiring an additional 189 shares during the period. 76.28% of the stock is owned by institutional investors.

Shares of AMGN traded up $0.05 during trading on Wednesday, reaching $196.92. The company’s stock had a trading volume of 61,514 shares, compared to its average volume of 2,929,147. The company has a market cap of $121.34 billion, a price-to-earnings ratio of 13.68, a P/E/G ratio of 2.37 and a beta of 1.11. The company has a quick ratio of 2.60, a current ratio of 2.89 and a debt-to-equity ratio of 2.58. The company has a fifty day moving average of $195.79 and a two-hundred day moving average of $185.11. Amgen, Inc. has a twelve month low of $166.30 and a twelve month high of $211.90.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, July 30th. The medical research company reported $3.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.58 by $0.39. The business had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.67 billion. Amgen had a net margin of 33.78% and a return on equity of 76.17%. The business’s revenue was down 3.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.83 earnings per share. As a group, equities analysts forecast that Amgen, Inc. will post 14.3 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Thursday, August 15th were issued a dividend of $1.45 per share. This represents a $5.80 annualized dividend and a yield of 2.95%. The ex-dividend date of this dividend was Wednesday, August 14th. Amgen’s dividend payout ratio is currently 40.28%.

Several brokerages have commented on AMGN. William Blair restated a “hold” rating on shares of Amgen in a research note on Friday, August 30th. Citigroup reaffirmed a “buy” rating on shares of Amgen in a research note on Monday, August 12th. Morgan Stanley decreased their target price on Amgen from $211.00 to $207.00 and set an “overweight” rating for the company in a report on Monday, July 15th. JPMorgan Chase & Co. set a $198.00 target price on shares of Amgen and gave the stock a “hold” rating in a research report on Friday, September 6th. Finally, Royal Bank of Canada raised their price target on shares of Amgen from $192.00 to $206.00 and gave the company a “sector perform” rating in a report on Tuesday, August 27th. Eleven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $217.33.

In other news, Director Ronald D. Sugar sold 2,000 shares of Amgen stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $206.70, for a total value of $413,400.00. Following the completion of the transaction, the director now owns 16,336 shares in the company, valued at approximately $3,376,651.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director R Sanders Williams sold 425 shares of Amgen stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $183.04, for a total value of $77,792.00. Following the completion of the transaction, the director now owns 16,336 shares of the company’s stock, valued at approximately $2,990,141.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,851 shares of company stock valued at $3,659,900. 0.25% of the stock is owned by company insiders.

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, and neuroscience. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Aranesp to treat anemia; Xgeva for skeletal-related events prevention; Sensipar/Mimpara products to treat sHPT in chronic kidney disease; and EPOGEN to treat a lower-than-normal number of red blood cells.

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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