Sandy Spring Bank lowered its stake in shares of Amgen, Inc. (NASDAQ:AMGN) by 3.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,776 shares of the medical research company’s stock after selling 473 shares during the period. Sandy Spring Bank’s holdings in Amgen were worth $2,355,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in AMGN. Clark Estates Inc. NY bought a new stake in shares of Amgen during the second quarter worth about $3,409,000. Stanley Laman Group Ltd. increased its position in shares of Amgen by 1.7% during the second quarter. Stanley Laman Group Ltd. now owns 5,037 shares of the medical research company’s stock worth $928,000 after acquiring an additional 84 shares in the last quarter. Coastal Investment Advisors Inc. increased its position in shares of Amgen by 51.3% during the second quarter. Coastal Investment Advisors Inc. now owns 3,992 shares of the medical research company’s stock worth $736,000 after acquiring an additional 1,354 shares in the last quarter. Walter & Keenan Financial Consulting Co. MI ADV increased its position in shares of Amgen by 3.4% during the second quarter. Walter & Keenan Financial Consulting Co. MI ADV now owns 10,550 shares of the medical research company’s stock worth $1,944,000 after acquiring an additional 350 shares in the last quarter. Finally, Cape Cod Five Cents Savings Bank increased its position in shares of Amgen by 1.3% during the second quarter. Cape Cod Five Cents Savings Bank now owns 37,232 shares of the medical research company’s stock worth $6,861,000 after acquiring an additional 491 shares in the last quarter. Hedge funds and other institutional investors own 78.96% of the company’s stock.
AMGN has been the subject of several recent research reports. Cowen reissued a “buy” rating and set a $229.00 target price on shares of Amgen in a research report on Wednesday, May 1st. BMO Capital Markets set a $230.00 target price on shares of Amgen and gave the stock a “buy” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. reissued a “hold” rating on shares of Amgen in a research report on Friday, August 9th. 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 reissued a “buy” rating on shares of Amgen in a research report on Monday. Nine analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $211.44.
AMGN traded up $0.71 during midday trading on Thursday, reaching $199.58. The company had a trading volume of 57,448 shares, compared to its average volume of 3,546,323. The company has a current ratio of 2.89, a quick ratio of 2.60 and a debt-to-equity ratio of 2.58. The company has a market capitalization of $119.83 billion, a PE ratio of 13.88, a PEG ratio of 2.42 and a beta of 1.19. Amgen, Inc. has a 12-month low of $166.30 and a 12-month high of $211.90. The business’s 50-day moving average price is $183.21.
Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, July 30th. The medical research company reported $3.97 EPS for the quarter, beating 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 period in the prior year, the company posted $3.83 EPS. Analysts anticipate that Amgen, Inc. will post 14.25 EPS for the current year.
The firm 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 dividend of $1.45 per share. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date is Wednesday, August 14th. Amgen’s payout ratio is currently 40.28%.
In related news, Director R Sanders Williams sold 425 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $183.04, for a total transaction of $77,792.00. Following the sale, the director now directly owns 16,336 shares in the company, valued at approximately $2,990,141.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ronald D. Sugar sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $187.58, for a total transaction of $375,160.00. Following the sale, the director now owns 16,336 shares in the company, valued at $3,064,306.88. The disclosure for this sale can be found here. Insiders have sold a total of 4,425 shares of company stock worth $804,312 over the last 90 days. 0.25% of the stock is currently owned by corporate insiders.
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.
Featured Article: Why are percentage gainers important?
Want to see what other hedge funds are holding AMGN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Amgen, Inc. (NASDAQ:AMGN).
Receive News & Ratings for Amgen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amgen and related companies with MarketBeat.com's FREE daily email newsletter.