TRU Independence Asset Management 2 LLC acquired a new position in shares of Amgen Inc. (NASDAQ:AMGN) during the 4th quarter, Holdings Channel.com reports. The fund acquired 256 shares of the medical research company’s stock, valued at approximately $59,000.
A number of other institutional investors have also recently modified their holdings of the business. Security National Trust Co. raised its stake in shares of Amgen by 0.4% during the fourth quarter. Security National Trust Co. now owns 10,089 shares of the medical research company’s stock valued at $2,320,000 after acquiring an additional 40 shares during the last quarter. Aspiriant LLC increased its stake in shares of Amgen by 2.1% during the fourth quarter. Aspiriant LLC now owns 2,055 shares of the medical research company’s stock valued at $473,000 after buying an additional 42 shares during the period. Nachman Norwood & Parrott Inc raised its holdings in shares of Amgen by 0.5% during the fourth quarter. Nachman Norwood & Parrott Inc now owns 8,816 shares of the medical research company’s stock valued at $2,027,000 after acquiring an additional 43 shares in the last quarter. Coastal Investment Advisors Inc. lifted its stake in Amgen by 1.9% in the fourth quarter. Coastal Investment Advisors Inc. now owns 2,389 shares of the medical research company’s stock worth $549,000 after acquiring an additional 44 shares during the period. Finally, Charles Schwab Trust Co boosted its holdings in Amgen by 2.2% in the fourth quarter. Charles Schwab Trust Co now owns 2,018 shares of the medical research company’s stock valued at $464,000 after acquiring an additional 44 shares in the last quarter. 75.23% of the stock is currently owned by hedge funds and other institutional investors.
Amgen stock opened at $248.12 on Thursday. The company has a current ratio of 2.28, a quick ratio of 1.88 and a debt-to-equity ratio of 3.12. The company has a fifty day simple moving average of $237.64 and a 200-day simple moving average of $235.35. The stock has a market cap of $143.31 billion, a P/E ratio of 20.01, a price-to-earnings-growth ratio of 1.90 and a beta of 0.76. Amgen Inc. has a 12-month low of $207.34 and a 12-month high of $276.69.
Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Monday, February 1st. The medical research company reported $3.81 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.39 by $0.42. The company had revenue of $6.63 billion during the quarter, compared to the consensus estimate of $6.57 billion. Amgen had a return on equity of 95.55% and a net margin of 29.42%. Amgen’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the previous year, the business earned $3.64 EPS. As a group, sell-side analysts forecast that Amgen Inc. will post 16.15 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 8th. Stockholders of record on Monday, May 17th will be given a dividend of $1.76 per share. The ex-dividend date of this dividend is Friday, May 14th. This represents a $7.04 annualized dividend and a dividend yield of 2.84%. Amgen’s dividend payout ratio is presently 47.50%.
In related news, Director Ronald D. Sugar sold 1,000 shares of the business’s stock in a transaction on Wednesday, March 10th. The shares were sold at an average price of $231.53, for a total value of $231,530.00. Following the completion of the sale, the director now directly owns 16,805 shares of the company’s stock, valued at $3,890,861.65. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Jonathan P. Graham sold 11,110 shares of the company’s stock in a transaction on Thursday, February 4th. The shares were sold at an average price of $236.51, for a total transaction of $2,627,626.10. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,360 shares of company stock valued at $3,393,044. Company insiders own 0.36% of the company’s stock.
A number of brokerages have recently weighed in on AMGN. SVB Leerink lifted their target price on shares of Amgen from $252.00 to $260.00 and gave the company a “market perform” rating in a research note on Monday, March 8th. The Goldman Sachs Group set a $277.00 target price on Amgen and gave the company a “buy” rating in a research note on Thursday, March 4th. Credit Suisse Group decreased their price objective on Amgen from $280.00 to $265.00 and set an “outperform” rating for the company in a report on Wednesday, February 3rd. Morgan Stanley upped their price target on Amgen from $277.00 to $279.00 and gave the stock an “overweight” rating in a research note on Thursday, March 11th. Finally, Royal Bank of Canada reissued a “neutral” rating on shares of Amgen in a research note on Monday, January 4th. Ten analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $258.57.
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 that reduces the chance of infection due a low white blood cell count in patients cancer; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with BehÃ§et's disease; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; and Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization.
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