Hartford Investment Management Co. Reduces Position in Amgen Inc. (AMGN)
Hartford Investment Management Co. lowered its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 11.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 167,437 shares of the medical research company’s stock after selling 20,922 shares during the period. Hartford Investment Management Co.’s holdings in Amgen were worth $28,838,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of the stock. Jackson Grant Investment Advisers Inc. boosted its stake in Amgen by 0.6% during the first quarter. Jackson Grant Investment Advisers Inc. now owns 636 shares of the medical research company’s stock worth $104,000 after acquiring an additional 4 shares in the last quarter. Investment Partners Ltd. OH ADV boosted its stake in Amgen by 0.5% during the second quarter. Investment Partners Ltd. OH ADV now owns 2,192 shares of the medical research company’s stock worth $377,000 after acquiring an additional 11 shares in the last quarter. Conservest Capital Advisors Inc. boosted its stake in Amgen by 0.4% during the second quarter. Conservest Capital Advisors Inc. now owns 3,130 shares of the medical research company’s stock worth $539,000 after acquiring an additional 13 shares in the last quarter. Arvest Bank Trust Division boosted its stake in Amgen by 0.9% during the second quarter. Arvest Bank Trust Division now owns 1,508 shares of the medical research company’s stock worth $260,000 after acquiring an additional 13 shares in the last quarter. Finally, M Holdings Securities Inc. boosted its stake in Amgen by 0.6% during the first quarter. M Holdings Securities Inc. now owns 2,825 shares of the medical research company’s stock worth $463,000 after acquiring an additional 18 shares in the last quarter. 78.14% of the stock is currently owned by institutional investors and hedge funds.
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Shares of Amgen Inc. (NASDAQ AMGN) traded down 1.54% during trading on Wednesday, hitting $188.06. 1,585,077 shares of the company were exchanged. The firm has a market capitalization of $137.22 billion, a PE ratio of 17.13 and a beta of 1.35. Amgen Inc. has a 12 month low of $133.64 and a 12 month high of $191.04. The firm’s 50-day moving average price is $174.23 and its 200 day moving average price is $168.94.
Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, July 25th. The medical research company reported $3.27 EPS for the quarter, topping the 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 net margin of 35.46% and a return on equity of 29.85%. The firm’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.84 EPS. On average, equities research analysts expect that Amgen Inc. will post $12.57 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Thursday, August 17th were issued a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 2.41%. The ex-dividend date was Tuesday, August 15th. Amgen’s payout ratio is presently 41.93%.
Several research firms recently commented on AMGN. UBS AG reissued a “neutral” rating and set a $175.00 price objective (up previously from $174.00) on shares of Amgen in a research note on Tuesday, June 13th. Morgan Stanley boosted their price objective on shares of Amgen from $183.00 to $184.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 13th. BMO Capital Markets reissued a “buy” rating and set a $198.00 price objective (down previously from $200.00) on shares of Amgen in a research note on Monday, May 22nd. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and issued a $203.00 target price (up previously from $189.00) on shares of Amgen in a research note on Wednesday, July 26th. Finally, Leerink Swann set a $159.00 target price on shares of Amgen and gave the stock a “hold” rating in a research note on Monday, May 22nd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $186.04.
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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