Amgen Inc. (AMGN) is CI Global Investments Inc.’s 8th Largest Position
CI Global Investments Inc. cut its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 10.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,090,644 shares of the medical research company’s stock after selling 120,537 shares during the period. Amgen comprises 4.1% of CI Global Investments Inc.’s portfolio, making the stock its 8th largest position. CI Global Investments Inc. owned approximately 0.15% of Amgen worth $178,942,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Bremer Trust National Association raised its position in shares of Amgen by 22.5% in the first quarter. Bremer Trust National Association now owns 9,116 shares of the medical research company’s stock valued at $1,495,000 after buying an additional 1,674 shares during the period. Adirondack Trust Co. raised its position in shares of Amgen by 10.1% in the first quarter. Adirondack Trust Co. now owns 1,470 shares of the medical research company’s stock valued at $241,000 after buying an additional 135 shares during the period. Capstone Asset Management Co. raised its position in shares of Amgen by 2.0% in the first quarter. Capstone Asset Management Co. now owns 131,383 shares of the medical research company’s stock valued at $21,556,000 after buying an additional 2,521 shares during the period. Stillwater Capital Advisors LLC acquired a new position in shares of Amgen during the first quarter valued at about $202,000. Finally, First PREMIER Bank raised its position in shares of Amgen by 61.4% in the first quarter. First PREMIER Bank now owns 8,282 shares of the medical research company’s stock valued at $1,359,000 after buying an additional 3,152 shares during the period. 79.12% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Amgen Inc. (NASDAQ:AMGN) traded down 0.12% on Friday, reaching $169.74. The company’s stock had a trading volume of 1,510,790 shares. The company has a market cap of $123.85 billion, a price-to-earnings ratio of 15.46 and a beta of 1.35. The stock has a 50-day moving average of $173.53 and a 200 day moving average of $168.31. Amgen Inc. has a 52-week low of $133.64 and a 52-week high of $184.21.
Amgen (NASDAQ:AMGN) last issued its 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. The company had revenue of $5.81 billion during the quarter, compared to analyst estimates of $5.67 billion. Amgen had a return on equity of 29.85% and a net margin of 35.46%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the business posted $2.84 EPS. On average, equities research analysts forecast that Amgen Inc. will post $12.57 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Thursday, August 17th will be paid a $1.15 dividend. The ex-dividend date of this dividend is Tuesday, August 15th. This represents a $4.60 dividend on an annualized basis and a yield of 2.71%. Amgen’s dividend payout ratio (DPR) is 41.93%.
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Several equities analysts have issued reports on the company. 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 set a $203.00 target price (up from $189.00) on shares of Amgen in a research report on Wednesday, July 26th. Deutsche Bank AG reaffirmed a “hold” rating and set a $174.00 target price (up from $172.00) on shares of Amgen in a research report on Wednesday, July 26th. Cann reaffirmed a “buy” rating and set a $203.00 target price (up from $189.00) on shares of Amgen in a research report on Wednesday, July 26th. Finally, Cowen and Company reaffirmed an “outperform” rating and set a $209.00 target price on shares of Amgen in a research report on Saturday, July 22nd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $186.04.
Amgen Company Profile
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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