Riggs Asset Managment Co. Inc. Has $3.98 Million Stake in Amgen Inc. (NASDAQ:AMGN)
Riggs Asset Managment Co. Inc. raised its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 11.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,232 shares of the medical research company’s stock after buying an additional 2,532 shares during the period. Amgen accounts for about 2.0% of Riggs Asset Managment Co. Inc.’s holdings, making the stock its 22nd largest position. Riggs Asset Managment Co. Inc.’s holdings in Amgen were worth $3,976,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the stock. Altavista Wealth Management Inc. raised its stake in shares of Amgen by 0.3% in the fourth quarter. Altavista Wealth Management Inc. now owns 3,985 shares of the medical research company’s stock valued at $583,000 after buying an additional 10 shares during the last quarter. Frontier Wealth Management LLC raised its stake in shares of Amgen by 6.2% in the fourth quarter. Frontier Wealth Management LLC now owns 54,824 shares of the medical research company’s stock valued at $8,016,000 after buying an additional 3,212 shares during the last quarter. Marshall Wace LLP raised its stake in shares of Amgen by 361.4% in the fourth quarter. Marshall Wace LLP now owns 174,660 shares of the medical research company’s stock valued at $25,537,000 after buying an additional 136,803 shares during the last quarter. Cypress Capital Management LLC acquired a new stake in shares of Amgen during the fourth quarter valued at approximately $328,000. Finally, Wilkins Investment Counsel Inc. raised its stake in shares of Amgen by 2.5% in the fourth quarter. Wilkins Investment Counsel Inc. now owns 4,175 shares of the medical research company’s stock worth $610,000 after buying an additional 100 shares in the last quarter. 78.82% of the stock is currently owned by institutional investors.
Amgen Inc. (NASDAQ:AMGN) traded down 0.19% during midday trading on Friday, reaching $173.85. The company’s stock had a trading volume of 1,915,649 shares. Amgen Inc. has a 1-year low of $133.64 and a 1-year high of $184.21. The company has a 50 day moving average price of $173.04 and a 200 day moving average price of $166.70. The firm has a market cap of $126.85 billion, a price-to-earnings ratio of 15.83 and a beta of 1.35.
Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, July 25th. The medical research company reported $3.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.11 by $0.16. Amgen had a return on equity of 29.85% and a net margin of 35.46%. The business had revenue of $5.81 billion for the quarter, compared to analysts’ expectations of $5.67 billion. During the same quarter last year, the firm earned $2.84 earnings per share. The business’s revenue was up 2.1% on a year-over-year basis. On average, equities research analysts expect that Amgen Inc. will post $12.57 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Thursday, August 17th will be issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 2.65%. The ex-dividend date is Tuesday, August 15th. Amgen’s dividend payout ratio (DPR) is 41.93%.
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A number of brokerages have recently issued reports on AMGN. BMO Capital Markets lowered Amgen from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 26th. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and issued a $203.00 price target (up from $189.00) on shares of Amgen in a research note on Wednesday, July 26th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $174.00 price target (up from $172.00) on shares of Amgen in a research note on Wednesday, July 26th. Cann reaffirmed a “buy” rating and issued a $203.00 price target (up from $189.00) on shares of Amgen in a research note on Wednesday, July 26th. Finally, Cowen and Company reaffirmed an “outperform” rating and issued a $209.00 price target on shares of Amgen in a research note on Saturday, July 22nd. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $186.64.
In other news, SVP Cynthia M. Patton sold 2,922 shares of the firm’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $154.40, for a total transaction of $451,156.80. Following the sale, the senior vice president now owns 24,214 shares in the company, valued at $3,738,641.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is owned by company 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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