Main Street Research LLC Has $11.23 Million Position in Amgen Inc. (NASDAQ:AMGN)
Main Street Research LLC decreased its stake in Amgen Inc. (NASDAQ:AMGN) by 4.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 65,199 shares of the medical research company’s stock after selling 3,269 shares during the period. Amgen accounts for approximately 1.8% of Main Street Research LLC’s investment portfolio, making the stock its 23rd largest position. Main Street Research LLC’s holdings in Amgen were worth $11,229,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Camelot Portfolios LLC purchased a new position in Amgen during the first quarter valued at approximately $1,429,000. Private Asset Management Inc. raised its position in Amgen by 117.8% in the first quarter. Private Asset Management Inc. now owns 3,591 shares of the medical research company’s stock valued at $589,000 after buying an additional 1,942 shares in the last quarter. Cadence Bank NA raised its position in Amgen by 6.2% in the first quarter. Cadence Bank NA now owns 3,376 shares of the medical research company’s stock valued at $554,000 after buying an additional 197 shares in the last quarter. Stillwater Capital Advisors LLC purchased a new position in Amgen during the first quarter valued at approximately $202,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in Amgen during the fourth quarter valued at approximately $275,209,000. Institutional investors and hedge funds own 79.53% of the company’s stock.
Shares of Amgen Inc. (NASDAQ:AMGN) traded up 0.42% during trading on Monday, reaching $174.58. The company had a trading volume of 1,191,238 shares. Amgen Inc. has a 52-week low of $133.64 and a 52-week high of $184.21. The stock has a 50 day moving average of $173.04 and a 200 day moving average of $166.70. The stock has a market capitalization of $127.39 billion, a price-to-earnings ratio of 15.90 and a beta of 1.35.
Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, July 25th. The medical research company reported $3.27 earnings per share for the quarter, topping the consensus estimate of $3.11 by $0.16. The firm had revenue of $5.81 billion for the quarter, compared to analyst estimates of $5.67 billion. Amgen had a net margin of 35.46% and a return on equity of 29.85%. Amgen’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.84 earnings per share. Equities research analysts forecast 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. Investors of record on Thursday, August 17th will be paid a dividend of $1.15 per share. The ex-dividend date is Tuesday, August 15th. This represents a $4.60 annualized dividend and a yield of 2.63%. Amgen’s dividend payout ratio (DPR) is 41.93%.
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AMGN has been the subject of several research analyst reports. Deutsche Bank AG began coverage on Amgen in a research report on Friday, June 23rd. They set a “hold” rating and a $172.00 price target for the company. ValuEngine lowered Amgen from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Oppenheimer Holdings, Inc. set a $189.00 target price on Amgen and gave the company a “buy” rating in a report on Monday, June 5th. William Blair reiterated a “market perform” rating on shares of Amgen in a report on Monday, June 26th. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $165.00 target price on shares of Amgen in a report on Friday, April 28th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. Amgen currently has an average rating of “Buy” and an average price target of $186.64.
In related news, SVP Cynthia M. Patton sold 2,922 shares of the stock in a transaction dated Wednesday, May 24th. The shares were 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 document filed with the SEC, which is available through this hyperlink. 0.20% of the stock is owned by corporate 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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