Pacer Advisors Inc. trimmed its position in Amgen Inc. (NASDAQ:AMGN) by 6.6% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 51,020 shares of the medical research company’s stock after selling 3,590 shares during the period. Pacer Advisors Inc.’s holdings in Amgen were worth $12,694,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of AMGN. Norges Bank acquired a new position in Amgen in the fourth quarter worth about $1,302,778,000. Morgan Stanley boosted its stake in Amgen by 13.8% in the fourth quarter. Morgan Stanley now owns 9,745,556 shares of the medical research company’s stock valued at $2,240,698,000 after acquiring an additional 1,179,665 shares during the period. Boston Partners boosted its stake in Amgen by 4,644.8% in the fourth quarter. Boston Partners now owns 972,579 shares of the medical research company’s stock valued at $223,616,000 after acquiring an additional 952,081 shares during the period. FIL Ltd boosted its stake in Amgen by 199.4% in the fourth quarter. FIL Ltd now owns 853,277 shares of the medical research company’s stock valued at $196,185,000 after acquiring an additional 568,324 shares during the period. Finally, Beutel Goodman & Co Ltd. boosted its stake in Amgen by 67.0% in the fourth quarter. Beutel Goodman & Co Ltd. now owns 1,028,961 shares of the medical research company’s stock valued at $236,578,000 after acquiring an additional 412,976 shares during the period. Institutional investors and hedge funds own 75.23% of the company’s stock.
NASDAQ:AMGN traded down $0.76 during midday trading on Thursday, hitting $247.36. 31,938 shares of the stock were exchanged, compared to its average volume of 2,729,896. Amgen Inc. has a one year low of $207.34 and a one year high of $276.69. The company has a market capitalization of $142.87 billion, a price-to-earnings ratio of 20.00, a P/E/G ratio of 1.90 and a beta of 0.76. The business has a 50-day moving average price of $237.64 and a two-hundred day moving average price of $235.35. The company has a current ratio of 2.28, a quick ratio of 1.88 and a debt-to-equity ratio of 3.12.
Amgen (NASDAQ:AMGN) last announced its earnings results on Monday, February 1st. The medical research company reported $3.81 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.39 by $0.42. Amgen had a return on equity of 95.55% and a net margin of 29.42%. The firm had revenue of $6.63 billion for the quarter, compared to analysts’ expectations of $6.57 billion. During the same quarter in the previous year, the company earned $3.64 earnings per share. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. Sell-side analysts forecast that Amgen Inc. will post 16.15 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 8th. Shareholders of record on Monday, May 17th will be given a $1.76 dividend. The ex-dividend date of this dividend is Friday, May 14th. This represents a $7.04 annualized dividend and a yield of 2.85%. Amgen’s dividend payout ratio (DPR) is 47.50%.
A number of brokerages have commented on AMGN. Oppenheimer lifted their target price on Amgen from $266.00 to $275.00 in a research note on Monday. Daiwa Capital Markets began coverage on Amgen in a research note on Tuesday, December 29th. They issued a “buy” rating and a $300.00 target price for the company. 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. JPMorgan Chase & Co. set a $222.00 price target on Amgen and gave the company a “neutral” rating in a report on Thursday, March 4th. Finally, Morgan Stanley lifted their price target on Amgen from $277.00 to $279.00 and gave the company an “overweight” rating in a report on Thursday, March 11th. Ten investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $258.57.
In other Amgen news, EVP Jonathan P. Graham sold 11,110 shares of Amgen stock in a transaction that occurred on Thursday, February 4th. The shares were sold at an average price of $236.51, for a total value of $2,627,626.10. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ronald D. Sugar sold 1,000 shares of Amgen stock in a transaction that occurred on Wednesday, March 10th. The stock was sold at an average price of $231.53, for a total transaction of $231,530.00. Following the completion of the transaction, the director now owns 16,805 shares in the company, valued at approximately $3,890,861.65. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,360 shares of company stock worth $3,393,044. 0.36% of the stock is currently owned by company insiders.
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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