Meridian Investment Counsel Inc. raised its position in shares of Amgen, Inc. (NASDAQ:AMGN) by 2.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,158 shares of the medical research company’s stock after purchasing an additional 207 shares during the period. Meridian Investment Counsel Inc.’s holdings in Amgen were worth $1,503,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Virtus ETF Advisers LLC bought a new position in shares of Amgen in the second quarter worth $847,000. Blackhawk Capital Partners LLC. raised its position in shares of Amgen by 13.2% in the second quarter. Blackhawk Capital Partners LLC. now owns 6,236 shares of the medical research company’s stock worth $1,149,000 after buying an additional 726 shares in the last quarter. ETRADE Capital Management LLC raised its position in shares of Amgen by 9.4% in the second quarter. ETRADE Capital Management LLC now owns 12,067 shares of the medical research company’s stock worth $2,224,000 after buying an additional 1,036 shares in the last quarter. HighTower Advisors LLC raised its position in shares of Amgen by 2.4% in the second quarter. HighTower Advisors LLC now owns 440,964 shares of the medical research company’s stock worth $81,302,000 after buying an additional 10,340 shares in the last quarter. Finally, AXA raised its position in shares of Amgen by 14.3% in the second quarter. AXA now owns 414,106 shares of the medical research company’s stock worth $76,312,000 after buying an additional 51,862 shares in the last quarter. 76.28% of the stock is owned by institutional investors and hedge funds.
AMGN has been the topic of a number of recent analyst reports. Piper Jaffray Companies increased their price objective on Amgen from $210.00 to $218.00 and gave the stock an “overweight” rating in a research report on Monday, August 26th. Oppenheimer set a $240.00 price objective on Amgen and gave the stock a “buy” rating in a research report on Monday. Morgan Stanley lowered their price objective on Amgen from $211.00 to $207.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Mizuho downgraded Amgen from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $208.00 to $212.00 in a research report on Monday, August 19th. They noted that the move was a valuation call. Finally, Credit Suisse Group reiterated an “outperform” rating and issued a $225.00 price objective (up previously from $202.00) on shares of Amgen in a research report on Friday, August 16th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $217.33.
NASDAQ AMGN traded down $0.51 during trading hours on Thursday, reaching $195.33. 744,195 shares of the stock traded hands, compared to its average volume of 3,050,802. The stock has a 50 day simple moving average of $196.19 and a two-hundred day simple moving average of $185.15. Amgen, Inc. has a 1 year low of $166.30 and a 1 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. The company has a market cap of $121.34 billion, a price-to-earnings ratio of 13.56, a price-to-earnings-growth ratio of 2.37 and a beta of 1.11.
Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, July 30th. The medical research company reported $3.97 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.58 by $0.39. Amgen had a return on equity of 76.17% and a net margin of 33.78%. The business had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.67 billion. During the same quarter last year, the business posted $3.83 earnings per share. The company’s revenue for the quarter was down 3.1% on a year-over-year basis. On average, sell-side analysts forecast that Amgen, Inc. will post 14.3 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Thursday, August 15th were given a dividend of $1.45 per share. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $5.80 dividend on an annualized basis and a yield of 2.97%. Amgen’s payout ratio is 40.28%.
In other Amgen news, SVP Cynthia M. Patton sold 13,426 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $208.07, for a total transaction of $2,793,547.82. Following the sale, the senior vice president now owns 32,648 shares in the company, valued at $6,793,069.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ronald D. Sugar sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $187.58, for a total value of $375,160.00. Following the sale, the director now owns 16,336 shares in the company, valued at approximately $3,064,306.88. The disclosure for this sale can be found here. Insiders have sold 17,851 shares of company stock worth $3,659,900 in the last 90 days. Company insiders own 0.25% of the company’s stock.
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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