TCG Advisors LP reduced its position in Amgen, Inc. (NASDAQ:AMGN) by 26.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,731 shares of the medical research company’s stock after selling 2,112 shares during the quarter. TCG Advisors LP’s holdings in Amgen were worth $1,162,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in AMGN. Wealth Quarterback LLC bought a new position in Amgen in the 4th quarter valued at about $3,116,210,000. Norges Bank bought a new position in Amgen in the 4th quarter valued at about $1,515,191,000. Capital Research Global Investors increased its holdings in Amgen by 5.2% in the 4th quarter. Capital Research Global Investors now owns 35,337,639 shares of the medical research company’s stock valued at $8,518,844,000 after buying an additional 1,743,084 shares during the period. American International Group Inc. increased its holdings in Amgen by 309.4% in the 1st quarter. American International Group Inc. now owns 1,148,747 shares of the medical research company’s stock valued at $232,885,000 after buying an additional 868,178 shares during the period. Finally, Swiss National Bank grew its holdings in shares of Amgen by 21.9% during the 1st quarter. Swiss National Bank now owns 2,306,118 shares of the medical research company’s stock valued at $467,519,000 after purchasing an additional 415,000 shares during the last quarter. 75.75% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ AMGN traded down $2.61 during midday trading on Monday, reaching $227.09. The stock had a trading volume of 90,060 shares, compared to its average volume of 2,658,781. The firm has a market cap of $135.12 billion, a price-to-earnings ratio of 17.73, a price-to-earnings-growth ratio of 1.96 and a beta of 0.94. Amgen, Inc. has a twelve month low of $166.68 and a twelve month high of $244.99. The company has a debt-to-equity ratio of 3.16, a quick ratio of 1.28 and a current ratio of 1.59. The company’s 50 day moving average price is $231.03 and its 200 day moving average price is $225.42.
The business also recently announced a quarterly dividend, which will be paid on Monday, June 8th. Investors of record on Monday, May 18th will be given a dividend of $1.60 per share. The ex-dividend date is Friday, May 15th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 2.82%. Amgen’s payout ratio is presently 43.18%.
In related news, Director R Sanders Williams sold 425 shares of the business’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $237.31, for a total transaction of $100,856.75. Following the transaction, the director now owns 5,834 shares in the company, valued at approximately $1,384,466.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ronald D. Sugar sold 1,000 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $229.27, for a total transaction of $229,270.00. Following the transaction, the director now owns 16,482 shares in the company, valued at approximately $3,778,828.14. The disclosure for this sale can be found here. Insiders have sold a total of 2,425 shares of company stock worth $563,477 in the last quarter. 0.36% of the stock is owned by corporate insiders.
Several brokerages recently issued reports on AMGN. Bank of America lifted their price target on shares of Amgen from $250.00 to $265.00 and gave the company a “buy” rating in a report on Friday, May 1st. Cfra lifted their price target on shares of Amgen from $223.00 to $259.00 and gave the company a “buy” rating in a report on Friday, May 1st. Barclays began coverage on shares of Amgen in a report on Thursday, February 27th. They set an “equal weight” rating and a $235.00 price target on the stock. SVB Leerink lifted their price target on shares of Amgen from $219.00 to $249.00 and gave the company a “market perform” rating in a report on Friday, May 1st. Finally, Morgan Stanley lifted their price target on shares of Amgen from $267.00 to $280.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seventeen have assigned a buy rating to the stock. Amgen has a consensus rating of “Hold” and an average target price of $244.65.
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, 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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