Morningstar Investment Services LLC trimmed its position in Amgen, Inc. (NASDAQ:AMGN) by 3.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 123,163 shares of the medical research company’s stock after selling 4,358 shares during the quarter. Morningstar Investment Services LLC’s holdings in Amgen were worth $28,520,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. Price Wealth LLC lifted its position in shares of Amgen by 42.9% in the 2nd quarter. Price Wealth LLC now owns 140 shares of the medical research company’s stock valued at $33,000 after acquiring an additional 42 shares in the last quarter. Lake Point Wealth Management raised its stake in Amgen by 1,590.0% during the 1st quarter. Lake Point Wealth Management now owns 169 shares of the medical research company’s stock valued at $34,000 after purchasing an additional 159 shares during the period. Column Capital Advisors LLC lifted its holdings in shares of Amgen by 98.0% in the first quarter. Column Capital Advisors LLC now owns 194 shares of the medical research company’s stock valued at $39,000 after purchasing an additional 96 shares in the last quarter. Providence Capital Advisors LLC acquired a new stake in shares of Amgen in the first quarter worth $47,000. Finally, Campbell Wealth Management purchased a new position in shares of Amgen during the second quarter valued at $51,000. 75.73% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director R Sanders Williams sold 425 shares of the stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $237.31, for a total transaction of $100,856.75. Following the completion of the sale, the director now owns 5,834 shares in the company, valued at approximately $1,384,466.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ronald D. Sugar sold 1,000 shares of Amgen stock in a transaction dated 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 directly owns 16,482 shares of the company’s stock, valued at $3,778,828.14. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,425 shares of company stock worth $818,457. Corporate insiders own 0.36% of the company’s stock.
Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, July 28th. The medical research company reported $4.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.81 by $0.44. Amgen had a net margin of 30.04% and a return on equity of 91.98%. The company had revenue of $6.21 billion during the quarter, compared to analysts’ expectations of $6.19 billion. During the same quarter in the prior year, the company posted $3.97 EPS. The business’s revenue was up 5.7% on a year-over-year basis. Sell-side analysts forecast that Amgen, Inc. will post 15.62 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Monday, August 17th will be issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date of this dividend is Friday, August 14th. Amgen’s payout ratio is 43.18%.
A number of equities research analysts have commented on AMGN shares. BMO Capital Markets raised their price objective on Amgen from $274.00 to $291.00 and gave the stock an “outperform” rating in a research report on Friday, May 1st. Mizuho restated a “hold” rating and set a $215.00 price target on shares of Amgen in a report on Thursday, April 30th. Bank of America upped their price objective on shares of Amgen from $250.00 to $265.00 and gave the company a “buy” rating in a research note on Friday, May 1st. SunTrust Banks lifted their target price on shares of Amgen from $254.00 to $268.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Morgan Stanley dropped their price target on shares of Amgen from $285.00 to $281.00 and set an “overweight” rating on the stock in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eighteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $253.15.
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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