Amgen Inc. (AMGN) Stake Held by Palisades Hudson Asset Management L.P.
Palisades Hudson Asset Management L.P. held its position in Amgen Inc. (NASDAQ:AMGN) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,945 shares of the medical research company’s stock at the end of the first quarter. Palisades Hudson Asset Management L.P.’s holdings in Amgen were worth $319,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Raymond James Trust N.A. raised its position in shares of Amgen by 3.7% in the first quarter. Raymond James Trust N.A. now owns 41,035 shares of the medical research company’s stock valued at $6,733,000 after buying an additional 1,461 shares during the last quarter. Weaver C. Barksdale & Associates Inc. raised its position in shares of Amgen by 26.5% in the first quarter. Weaver C. Barksdale & Associates Inc. now owns 8,576 shares of the medical research company’s stock valued at $1,407,000 after buying an additional 1,798 shares during the last quarter. Contravisory Investment Management Inc. acquired a new position in shares of Amgen during the first quarter valued at approximately $230,000. Indiana Trust & Investment Management CO raised its position in shares of Amgen by 12.1% in the first quarter. Indiana Trust & Investment Management CO now owns 2,454 shares of the medical research company’s stock valued at $403,000 after buying an additional 265 shares during the last quarter. Finally, Cardinal Capital Management Inc. acquired a new position in shares of Amgen during the first quarter valued at approximately $550,000. 79.12% of the stock is owned by institutional investors and hedge funds.
Shares of Amgen Inc. (NASDAQ:AMGN) traded down 1.133% during trading on Thursday, hitting $169.449. The company had a trading volume of 500,946 shares. The stock’s 50-day moving average price is $174.37 and its 200 day moving average price is $167.96. Amgen Inc. has a 52 week low of $133.64 and a 52 week high of $184.21. The company has a market capitalization of $123.64 billion, a P/E ratio of 15.434 and a beta of 1.35.
Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, July 25th. The medical research company reported $3.27 earnings per share (EPS) for the quarter, topping the Zacks’ 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 firm had revenue of $5.81 billion during the quarter, compared to analyst estimates of $5.67 billion. During the same period last year, the company earned $2.84 EPS. Amgen’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, equities research analysts forecast that Amgen Inc. will post $12.57 earnings per share for the current year.
The firm also recently declared 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. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date is Tuesday, August 15th. Amgen’s dividend payout ratio is currently 41.93%.
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AMGN has been the subject of several recent analyst reports. ValuEngine lowered Amgen from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $203.00 price objective (up previously from $189.00) on shares of Amgen in a report on Wednesday, July 26th. BidaskClub raised Amgen from a “buy” rating to a “strong-buy” rating in a report on Friday, June 23rd. BMO Capital Markets lowered Amgen from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 26th. Finally, Argus boosted their target price on Amgen from $180.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday, July 27th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. Amgen presently has an average rating of “Buy” and a consensus target price of $186.64.
In related news, SVP Cynthia M. Patton sold 2,922 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the senior vice president now directly owns 24,214 shares of the company’s stock, valued at approximately $3,738,641.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is currently 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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