Mengis Capital Management Inc. Raises Position in Amgen, Inc. (NASDAQ:AMGN)

Mengis Capital Management Inc. lifted its stake in Amgen, Inc. (NASDAQ:AMGN) by 3.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,772 shares of the medical research company’s stock after buying an additional 316 shares during the period. Mengis Capital Management Inc.’s holdings in Amgen were worth $1,697,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of AMGN. Gifford Fong Associates boosted its holdings in Amgen by 25.3% in the second quarter. Gifford Fong Associates now owns 67,671 shares of the medical research company’s stock valued at $12,470,000 after purchasing an additional 13,671 shares during the last quarter. Bray Capital Advisors boosted its holdings in Amgen by 11.6% in the second quarter. Bray Capital Advisors now owns 19,676 shares of the medical research company’s stock valued at $3,626,000 after purchasing an additional 2,045 shares during the last quarter. CHICAGO TRUST Co NA boosted its holdings in Amgen by 2.8% in the second quarter. CHICAGO TRUST Co NA now owns 3,716 shares of the medical research company’s stock valued at $685,000 after purchasing an additional 100 shares during the last quarter. Private Advisor Group LLC boosted its holdings in Amgen by 4.0% in the second quarter. Private Advisor Group LLC now owns 38,488 shares of the medical research company’s stock valued at $7,093,000 after purchasing an additional 1,494 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new position in Amgen in the second quarter valued at about $15,515,000. 76.33% of the stock is owned by institutional investors.

In related news, Director Ronald D. Sugar sold 2,000 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $193.58, for a total value of $387,160.00. Following the completion of the transaction, the director now directly owns 16,436 shares of the company’s stock, valued at approximately $3,181,680.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Cynthia M. Patton sold 13,426 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $208.07, for a total value of $2,793,547.82. Following the completion of the transaction, the senior vice president now directly owns 32,648 shares of the company’s stock, valued at $6,793,069.36. The disclosure for this sale can be found here. Insiders have sold a total of 17,851 shares of company stock worth $3,685,674 over the last quarter. Insiders own 0.25% of the company’s stock.

AMGN has been the topic of several research reports. Oppenheimer set a $240.00 price objective on Amgen and gave the company a “buy” rating in a research note on Monday, September 9th. Evercore ISI restated a “hold” rating on shares of Amgen in a research note on Sunday, August 11th. Leerink Swann upped their price objective on Amgen from $189.00 to $205.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. Piper Jaffray Companies upped their price objective on Amgen from $210.00 to $218.00 and gave the company an “overweight” rating in a research note on Monday, August 26th. Finally, Citigroup restated a “buy” rating on shares of Amgen in a research note on Monday, August 12th. Ten equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $219.56.

Shares of Amgen stock traded down $0.41 on Monday, reaching $220.70. 1,361,264 shares of the company were exchanged, compared to its average volume of 2,904,606. The company has a debt-to-equity ratio of 2.54, a quick ratio of 2.59 and a current ratio of 2.89. The company’s 50-day moving average is $202.75 and its two-hundred day moving average is $188.90. The firm has a market cap of $127.80 billion, a price-to-earnings ratio of 15.33, a P/E/G ratio of 2.21 and a beta of 1.09. Amgen, Inc. has a 1-year low of $166.30 and a 1-year high of $221.38.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, October 29th. The medical research company reported $3.66 earnings per share for the quarter, topping analysts’ consensus estimates of $3.53 by $0.13. The business had revenue of $5.74 billion for the quarter, compared to analysts’ expectations of $5.63 billion. Amgen had a return on equity of 80.26% and a net margin of 34.48%. The business’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the prior year, the firm earned $3.69 EPS. As a group, sell-side analysts forecast that Amgen, Inc. will post 14.44 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be given a dividend of $1.45 per share. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date of this dividend is Thursday, November 14th. Amgen’s payout ratio is 40.28%.

About Amgen

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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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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