Delta Asset Management LLC TN Cuts Stake in Amgen Inc. (AMGN)
Delta Asset Management LLC TN decreased its position in shares of Amgen Inc. (NASDAQ:AMGN) by 8.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 935 shares of the medical research company’s stock after selling 85 shares during the period. Delta Asset Management LLC TN’s holdings in Amgen were worth $153,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new position in Amgen during the fourth quarter valued at $1,016,913,000. FMR LLC increased its stake in shares of Amgen by 11.3% in the fourth quarter. FMR LLC now owns 40,789,786 shares of the medical research company’s stock valued at $5,963,875,000 after buying an additional 4,144,154 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in shares of Amgen during the fourth quarter valued at $275,209,000. Asset Management One Co. Ltd. increased its stake in shares of Amgen by 426.2% in the fourth quarter. Asset Management One Co. Ltd. now owns 1,331,811 shares of the medical research company’s stock valued at $194,885,000 after buying an additional 1,078,691 shares during the last quarter. Finally, State Street Corp boosted its position in Amgen by 2.8% in the fourth quarter. State Street Corp now owns 34,308,673 shares of the medical research company’s stock valued at $5,016,268,000 after buying an additional 919,966 shares during the period. Institutional investors own 78.84% of the company’s stock.
Shares of Amgen Inc. (NASDAQ AMGN) opened at 162.42 on Monday. The stock has a market capitalization of $119.44 billion, a PE ratio of 15.43 and a beta of 1.37. The stock has a 50 day moving average of $160.16 and a 200-day moving average of $160.84. Amgen Inc. has a 52 week low of $133.64 and a 52 week high of $184.21.
Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Wednesday, April 26th. The medical research company reported $3.15 EPS for the quarter, topping the consensus estimate of $3.00 by $0.15. The company had revenue of $5.46 billion during the quarter, compared to analyst estimates of $5.60 billion. Amgen had a net margin of 34.42% and a return on equity of 29.37%. The firm’s revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.90 EPS. On average, equities research analysts expect that Amgen Inc. will post $12.43 EPS for the current year.
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A number of brokerages have recently issued reports on AMGN. Mizuho set a $195.00 target price on Amgen and gave the stock a “buy” rating in a report on Saturday, May 6th. Morgan Stanley raised their price target on Amgen from $183.00 to $184.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 13th. Cowen and Company reiterated an “outperform” rating and set a $209.00 target price on shares of Amgen in a report on Wednesday, April 19th. BMO Capital Markets reissued a “buy” rating and issued a $198.00 price target (down previously from $200.00) on shares of Amgen in a research note on Monday, May 22nd. Finally, Sanford C. Bernstein set a $164.00 price target on Amgen and gave the company a “hold” rating in a research note on Thursday, June 8th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $185.49.
In related news, SVP Cynthia M. Patton sold 2,922 shares of the business’s stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $154.40, for a total value of $451,156.80. Following the completion of the sale, the senior vice president now owns 24,214 shares of the company’s stock, valued at approximately $3,738,641.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.20% of the stock is currently owned by insiders.
Amgen Inc is a biotechnology company. The Company discovers, develops, manufactures and delivers various human therapeutics. It operates in human therapeutics segment. 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 KYPROLIS (carfilzomib), Vectibix (panitumumab), Nplate (romiplostim), Repatha (evolocumab), BLINCYTO (blinatumomab), IMLYGIC (talimogene laherparepvec) and Corlanor (ivabradine).
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