Parsec Financial Management Inc. Boosts Position in Amgen Inc. (AMGN)
Parsec Financial Management Inc. raised its position in shares of Amgen Inc. (NASDAQ:AMGN) by 2.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 86,538 shares of the medical research company’s stock after buying an additional 1,861 shares during the period. Amgen comprises approximately 1.3% of Parsec Financial Management Inc.’s portfolio, making the stock its 28th largest position. Parsec Financial Management Inc.’s holdings in Amgen were worth $13,167,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Bank of Montreal Can acquired a new position in Amgen during the second quarter worth about $383,036,000. Wellington Management Group LLP increased its position in Amgen by 16.0% in the first quarter. Wellington Management Group LLP now owns 13,544,922 shares of the medical research company’s stock worth $2,030,789,000 after buying an additional 1,864,688 shares in the last quarter. Nordea Investment Management AB increased its position in Amgen by 37.1% in the second quarter. Nordea Investment Management AB now owns 5,719,168 shares of the medical research company’s stock worth $870,171,000 after buying an additional 1,547,099 shares in the last quarter. NN Investment Partners Holdings N.V. acquired a new position in Amgen during the first quarter worth about $113,507,000. Finally, UBS Asset Management Americas Inc. increased its position in Amgen by 12.4% in the first quarter. UBS Asset Management Americas Inc. now owns 3,712,647 shares of the medical research company’s stock worth $556,636,000 after buying an additional 409,863 shares in the last quarter. Institutional investors own 79.12% of the company’s stock.
Amgen Inc. (NASDAQ:AMGN) traded up 0.11% during midday trading on Tuesday, reaching $162.80. 2,001,839 shares of the company’s stock were exchanged. Amgen Inc. has a 52 week low of $139.02 and a 52 week high of $176.85. The stock’s 50 day moving average is $169.07 and its 200 day moving average is $162.61. The firm has a market capitalization of $121.83 billion, a P/E ratio of 16.66 and a beta of 0.94.
Amgen (NASDAQ:AMGN) last announced its earnings results on Wednesday, July 27th. The medical research company reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.74 by $0.10. The company earned $5.69 billion during the quarter, compared to analysts’ expectations of $5.58 billion. Amgen had a net margin of 33.07% and a return on equity of 29.30%. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.57 earnings per share. On average, analysts expect that Amgen Inc. will post $11.35 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 8th. Shareholders of record on Wednesday, November 16th will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date is Monday, November 14th. Amgen’s payout ratio is currently 40.90%.
A number of brokerages have weighed in on AMGN. Vetr downgraded shares of Amgen from a “hold” rating to a “sell” rating and set a $166.35 price objective for the company. in a research report on Monday, August 1st. Goldman Sachs Group Inc. reiterated a “buy” rating and issued a $204.00 price objective on shares of Amgen in a research report on Thursday, September 8th. Cowen and Company reiterated a “buy” rating on shares of Amgen in a research report on Monday, September 19th. Jefferies Group reiterated a “buy” rating and issued a $187.00 price objective on shares of Amgen in a research report on Wednesday, July 13th. Finally, Piper Jaffray Cos. reiterated a “buy” rating and issued a $193.00 price objective on shares of Amgen in a research report on Thursday, July 28th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the stock. Amgen has a consensus rating of “Buy” and an average price target of $184.94.
In other Amgen news, VP Annette Louise Such sold 3,000 shares of Amgen stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $174.59, for a total transaction of $523,770.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.20% of the company’s stock.
Amgen Inc is a biotechnology company. The Company discovers, develops, manufactures and delivers various human therapeutics. The Company’s business segment is human therapeutics. Its marketed products portfolio includes Neulasta (pegfilgrastim); erythropoiesis-stimulating agents (ESAs), such as Aranesp (darbepoetin alfa) and EPOGEN (epoetin alfa); Sensipar/Mimpara (cinacalcet); XGEVA (denosumab); Prolia (denosumab); NEUPOGEN (filgrastim), and other marketed products, such as Vectibix (panitumumab), Nplate (romiplostim) and Corlanor (ivabradine).
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