Pacad Investment Ltd. Sells 3,234 Shares of Amgen Inc. (AMGN)
Pacad Investment Ltd. trimmed its position in shares of Amgen Inc. (NASDAQ:AMGN) by 38.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,200 shares of the medical research company’s stock after selling 3,234 shares during the quarter. Pacad Investment Ltd.’s holdings in Amgen were worth $896,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Evanston Investments Inc. dba Evanston Advisors bought a new position in shares of Amgen during the second quarter worth $7,885,000. Covington Investment Advisors Inc. boosted its position in shares of Amgen by 0.3% during the second quarter. Covington Investment Advisors Inc. now owns 12,782 shares of the medical research company’s stock worth $2,201,000 after purchasing an additional 35 shares in the last quarter. Marble Harbor Investment Counsel LLC boosted its position in shares of Amgen by 10.7% during the second quarter. Marble Harbor Investment Counsel LLC now owns 3,668 shares of the medical research company’s stock worth $632,000 after purchasing an additional 355 shares in the last quarter. Zevin Asset Management LLC boosted its position in shares of Amgen by 1.3% during the second quarter. Zevin Asset Management LLC now owns 3,817 shares of the medical research company’s stock worth $657,000 after purchasing an additional 50 shares in the last quarter. Finally, Commerce Bank boosted its position in shares of Amgen by 12.6% during the second quarter. Commerce Bank now owns 151,233 shares of the medical research company’s stock worth $26,047,000 after purchasing an additional 16,892 shares in the last quarter. 78.20% of the stock is currently owned by institutional investors.
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Shares of Amgen Inc. (AMGN) opened at $170.00 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 6.07 and a quick ratio of 5.72. Amgen Inc. has a 52 week low of $138.83 and a 52 week high of $191.10. The stock has a market cap of $123,404.88, a price-to-earnings ratio of 13.51, a price-to-earnings-growth ratio of 2.46 and a beta of 1.37.
Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Wednesday, October 25th. The medical research company reported $3.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.11 by $0.16. Amgen had a net margin of 35.54% and a return on equity of 29.90%. The firm had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.75 billion. During the same period in the previous year, the business earned $3.02 EPS. The company’s revenue was down .7% compared to the same quarter last year. equities research analysts anticipate that Amgen Inc. will post 12.66 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 17th will be paid a $1.15 dividend. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $4.60 annualized dividend and a yield of 2.71%. Amgen’s payout ratio is currently 41.63%.
Amgen declared that its board has authorized a stock repurchase program on Wednesday, October 25th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the medical research company to purchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
A number of equities analysts have recently weighed in on the stock. Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $203.00 price target (up from $189.00) on shares of Amgen in a research report on Wednesday, July 26th. Royal Bank Of Canada assumed coverage on shares of Amgen in a research report on Thursday, September 14th. They set a “sector perform” rating and a $192.00 price target on the stock. Credit Suisse Group reissued a “neutral” rating and set a $186.00 price target (up from $177.00) on shares of Amgen in a research report on Friday, September 29th. Cowen and Company reissued an “outperform” rating and set a $209.00 price target on shares of Amgen in a research report on Saturday, July 22nd. Finally, Mizuho reissued a “buy” rating and set a $183.00 price target (down from $195.00) on shares of Amgen in a research report on Monday, August 21st. Thirteen analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $190.03.
In other news, Director Carbonnel Francois De sold 4,000 shares of the business’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $173.61, for a total transaction of $694,440.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Sean E. Harper sold 1,525 shares of the business’s stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $185.95, for a total transaction of $283,573.75. The disclosure for this sale can be found here. Insiders sold a total of 7,050 shares of company stock worth $1,239,673 over the last quarter. Company insiders own 0.19% of the company’s stock.
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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