Beaton Management Co. Inc. decreased its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 5.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,900 shares of the medical research company’s stock after selling 221 shares during the period. Beaton Management Co. Inc.’s holdings in Amgen were worth $991,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of the company. Morgan Stanley increased its stake in shares of Amgen by 7.4% in the first quarter. Morgan Stanley now owns 7,263,835 shares of the medical research company’s stock valued at $1,472,598,000 after purchasing an additional 501,592 shares during the period. Duality Advisers LP acquired a new position in shares of Amgen during the second quarter valued at approximately $373,000. Chartwell Investment Partners LLC acquired a new position in shares of Amgen during the second quarter valued at approximately $689,000. Tandem Investment Advisors Inc. acquired a new position in shares of Amgen during the second quarter valued at approximately $223,000. Finally, Signaturefd LLC increased its stake in shares of Amgen by 3.0% during the second quarter. Signaturefd LLC now owns 7,517 shares of the medical research company’s stock valued at $1,773,000 after acquiring an additional 218 shares during the period. 71.72% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts recently commented on AMGN shares. Morgan Stanley raised their price objective on shares of Amgen from $273.00 to $275.00 and gave the company an “overweight” rating in a research note on Thursday, October 29th. BidaskClub cut shares of Amgen from a “sell” rating to a “strong sell” rating in a report on Saturday, October 17th. Barclays reduced their target price on shares of Amgen from $250.00 to $242.00 and set an “equal weight” rating for the company in a report on Thursday, October 29th. UBS Group initiated coverage on shares of Amgen in a report on Wednesday, October 28th. They set a “neutral” rating and a $232.00 target price for the company. Finally, Royal Bank of Canada restated a “hold” rating and set a $223.00 target price on shares of Amgen in a report on Thursday, October 15th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $253.54.
In other news, Director R Sanders Williams sold 250 shares of Amgen stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $242.40, for a total transaction of $60,600.00. Following the sale, the director now directly owns 4,909 shares in the company, valued at approximately $1,189,941.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.36% of the stock is currently owned by insiders.
NASDAQ AMGN traded down $2.89 during midday trading on Monday, hitting $221.92. The company had a trading volume of 19,734 shares, compared to its average volume of 2,823,765. The company has a quick ratio of 1.88, a current ratio of 2.28 and a debt-to-equity ratio of 3.12. The stock has a market cap of $128.26 billion, a price-to-earnings ratio of 18.08, a P/E/G ratio of 1.89 and a beta of 0.81. The firm has a fifty day simple moving average of $229.62 and a two-hundred day simple moving average of $238.58. Amgen Inc. has a fifty-two week low of $177.05 and a fifty-two week high of $264.97.
Amgen (NASDAQ:AMGN) last issued its earnings results on Monday, November 2nd. The medical research company reported $4.37 earnings per share for the quarter, beating the consensus estimate of $3.75 by $0.62. Amgen had a net margin of 29.42% and a return on equity of 95.55%. The business had revenue of $6.42 billion for the quarter, compared to analyst estimates of $6.38 billion. As a group, equities analysts predict that Amgen Inc. will post 16.15 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 8th. Stockholders of record on Monday, November 16th will be given a dividend of $1.60 per share. The ex-dividend date is Friday, November 13th. This represents a $6.40 annualized dividend and a dividend yield of 2.88%. Amgen’s dividend payout ratio (DPR) is currently 43.18%.
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology and neuroscience areas. 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; Xgeva for skeletal-related events prevention; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Sensipar/Mimpara to treat secondary hyperparathyroidism; and EPOGEN to treat anemia caused by chronic kidney disease.
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