Kings Point Capital Management Grows Holdings in Amgen Inc. (AMGN)
Kings Point Capital Management raised its position in Amgen Inc. (NASDAQ:AMGN) by 13.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,758 shares of the medical research company’s stock after acquiring an additional 1,611 shares during the quarter. Kings Point Capital Management’s holdings in Amgen were worth $2,370,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMGN. Canada Pension Plan Investment Board grew its position in Amgen by 65.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,706,261 shares of the medical research company’s stock valued at $293,869,000 after acquiring an additional 676,300 shares in the last quarter. Skandinaviska Enskilda Banken AB publ acquired a new position in Amgen in the 1st quarter valued at about $110,402,000. Swiss National Bank boosted its stake in shares of Amgen by 26.5% in the 1st quarter. Swiss National Bank now owns 2,636,008 shares of the medical research company’s stock valued at $432,490,000 after buying an additional 551,600 shares during the period. Bank of Nova Scotia boosted its stake in shares of Amgen by 414.4% in the 1st quarter. Bank of Nova Scotia now owns 601,862 shares of the medical research company’s stock valued at $98,747,000 after buying an additional 484,868 shares during the period. Finally, First Eagle Investment Management LLC purchased a new position in shares of Amgen in the 2nd quarter valued at about $71,081,000. 78.20% of the stock is owned by institutional investors.
In other news, Director Carbonnel Francois De sold 4,000 shares of the company’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $173.61, for a total value of $694,440.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Sean E. Harper sold 1,525 shares of the company’s stock in a transaction on Monday, October 9th. The shares were sold at an average price of $185.95, for a total value of $283,573.75. The disclosure for this sale can be found here. 0.19% of the stock is owned by corporate insiders.
Several equities analysts have recently issued reports on AMGN shares. Bank of America Corporation lifted their price objective on Amgen to $210.00 and gave the company a “buy” rating in a research note on Thursday, October 5th. Barclays PLC lifted their price objective on Amgen from $180.00 to $190.00 and gave the company an “equal weight” rating in a research note on Friday, October 13th. Oppenheimer Holdings, Inc. reiterated a “buy” rating and issued a $203.00 price objective on shares of Amgen in a research note on Thursday, September 7th. Zacks Investment Research upgraded Amgen from a “hold” rating to a “buy” rating and set a $199.00 price objective for the company in a research note on Friday, October 27th. Finally, Royal Bank Of Canada started coverage on Amgen in a research note on Thursday, September 14th. They issued a “sector perform” rating and a $192.00 price objective for the company. Thirteen equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. Amgen presently has a consensus rating of “Buy” and a consensus target price of $190.03.
Shares of Amgen Inc. (NASDAQ:AMGN) opened at $171.50 on Tuesday. The company has a current ratio of 6.07, a quick ratio of 5.72 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $125,110.70, a price-to-earnings ratio of 13.70, a price-to-earnings-growth ratio of 2.50 and a beta of 1.37. Amgen Inc. has a 12-month low of $138.83 and a 12-month high of $191.10.
Amgen (NASDAQ:AMGN) last posted its earnings results on Wednesday, October 25th. The medical research company reported $3.27 EPS for the quarter, topping the Zacks’ consensus estimate of $3.11 by $0.16. Amgen had a return on equity of 29.90% and a net margin of 35.54%. The company had revenue of $5.77 billion for the quarter, compared to the consensus estimate of $5.75 billion. During the same period in the previous year, the business earned $3.02 earnings per share. Amgen’s quarterly revenue was down .7% compared to the same quarter last year. equities analysts predict that Amgen Inc. will post 12.66 EPS for the current year.
Amgen announced that its Board of Directors has initiated a stock buyback plan on Wednesday, October 25th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 17th will be given a $1.15 dividend. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $4.60 annualized dividend and a dividend yield of 2.68%. Amgen’s dividend payout ratio is currently 41.63%.
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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