FinTrust Capital Advisors LLC raised its stake in shares of Amgen, Inc. (NASDAQ:AMGN) by 32.5% during the second quarter, Holdings Channel reports. The firm owned 3,387 shares of the medical research company’s stock after buying an additional 831 shares during the quarter. FinTrust Capital Advisors LLC’s holdings in Amgen were worth $624,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of AMGN. Geode Capital Management LLC increased its position in Amgen by 5.8% during the 4th quarter. Geode Capital Management LLC now owns 8,850,224 shares of the medical research company’s stock valued at $1,720,250,000 after purchasing an additional 482,760 shares during the period. Family Legacy Inc. grew its position in shares of Amgen by 1.6% in the 4th quarter. Family Legacy Inc. now owns 10,941 shares of the medical research company’s stock worth $2,130,000 after buying an additional 169 shares during the period. Two Sigma Advisers LP grew its position in shares of Amgen by 18.0% in the 4th quarter. Two Sigma Advisers LP now owns 2,069,296 shares of the medical research company’s stock worth $402,830,000 after buying an additional 315,600 shares during the period. GYL Financial Synergies LLC purchased a new stake in shares of Amgen in the 4th quarter worth about $447,000. Finally, Northern Oak Wealth Management Inc. grew its position in shares of Amgen by 333.3% in the 4th quarter. Northern Oak Wealth Management Inc. now owns 780 shares of the medical research company’s stock worth $152,000 after buying an additional 600 shares during the period. 78.96% of the stock is currently owned by institutional investors and hedge funds.
Amgen stock traded up $1.46 during mid-day trading on Thursday, reaching $200.33. The stock had a trading volume of 110,355 shares, compared to its average volume of 3,546,323. The firm has a market cap of $119.83 billion, a P/E ratio of 13.94, a price-to-earnings-growth ratio of 2.42 and a beta of 1.19. The company’s 50-day moving average price is $183.21. Amgen, Inc. has a one year low of $166.30 and a one year high of $211.90. The company has a debt-to-equity ratio of 2.58, a current ratio of 2.89 and a quick ratio of 2.60.
Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, July 30th. The medical research company reported $3.97 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.58 by $0.39. The company had revenue of $5.87 billion for the quarter, compared to analysts’ expectations of $5.67 billion. Amgen had a net margin of 33.78% and a return on equity of 76.17%. Amgen’s revenue was down 3.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.83 EPS. On average, analysts forecast that Amgen, Inc. will post 14.25 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Thursday, August 15th will be paid a $1.45 dividend. This represents a $5.80 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date is Wednesday, August 14th. Amgen’s payout ratio is 40.28%.
A number of analysts have recently weighed in on the stock. Evercore ISI reaffirmed a “hold” rating on shares of Amgen in a research report on Sunday. Piper Jaffray Companies set a $210.00 target price on shares of Amgen and gave the stock a “buy” rating in a research report on Saturday, August 10th. Cowen reaffirmed a “buy” rating and issued a $229.00 target price on shares of Amgen in a research report on Wednesday, May 1st. Credit Suisse Group set a $202.00 target price on shares of Amgen and gave the stock a “buy” rating in a research report on Monday. Finally, Citigroup reaffirmed a “buy” rating on shares of Amgen in a research report on Monday. Nine equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Amgen has an average rating of “Buy” and an average target price of $211.44.
In other Amgen news, Director R Sanders Williams sold 425 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $183.04, for a total transaction of $77,792.00. Following the transaction, the director now owns 16,336 shares in the company, valued at approximately $2,990,141.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ronald D. Sugar sold 2,000 shares of the company’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $175.68, for a total transaction of $351,360.00. Following the transaction, the director now owns 16,219 shares in the company, valued at approximately $2,849,353.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,425 shares of company stock worth $804,312. 0.25% of the stock is currently owned by company insiders.
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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