Amgen, Inc. (AMGN) Shares Bought by Family Management Corp
Family Management Corp raised its position in shares of Amgen, Inc. (NASDAQ:AMGN) by 1,188.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,775 shares of the medical research company’s stock after purchasing an additional 23,775 shares during the period. Amgen comprises 3.1% of Family Management Corp’s portfolio, making the stock its 16th biggest position. Family Management Corp’s holdings in Amgen were worth $4,439,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. TrimTabs Asset Management LLC increased its holdings in shares of Amgen by 88.9% in the 1st quarter. TrimTabs Asset Management LLC now owns 612 shares of the medical research company’s stock valued at $100,000 after acquiring an additional 288 shares during the period. Jackson Grant Investment Advisers Inc. increased its holdings in shares of Amgen by 0.8% in the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 641 shares of the medical research company’s stock valued at $110,000 after acquiring an additional 5 shares during the period. Omnia Family Wealth LLC increased its holdings in shares of Amgen by 25.3% in the 2nd quarter. Omnia Family Wealth LLC now owns 729 shares of the medical research company’s stock valued at $125,000 after acquiring an additional 147 shares during the period. Grove Bank & Trust increased its holdings in shares of Amgen by 87.4% in the 2nd quarter. Grove Bank & Trust now owns 731 shares of the medical research company’s stock valued at $126,000 after acquiring an additional 341 shares during the period. Finally, Enterprise Financial Services Corp increased its holdings in shares of Amgen by 18.0% in the 2nd quarter. Enterprise Financial Services Corp now owns 748 shares of the medical research company’s stock valued at $129,000 after acquiring an additional 114 shares during the period. 78.62% of the stock is owned by institutional investors and hedge funds.
In other Amgen news, EVP Sean E. Harper sold 1,525 shares of Amgen 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Carbonnel Francois De sold 4,000 shares of Amgen stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $173.61, for a total value of $694,440.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 8,575 shares of company stock valued at $1,509,339. 0.19% of the stock is currently owned by insiders.
Amgen (NASDAQ:AMGN) last issued its quarterly 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 during the quarter, compared to analysts’ expectations of $5.75 billion. During the same quarter in the previous year, the firm posted $3.02 EPS. The firm’s revenue was down .7% compared to the same quarter last year. analysts predict that Amgen, Inc. will post 12.66 earnings per share for the current year.
Amgen announced that its Board of Directors has approved a share buyback program on Wednesday, October 25th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the medical research company to reacquire shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s board believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 8th. Shareholders of record on Thursday, February 15th will be given a dividend of $1.32 per share. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $5.28 dividend on an annualized basis and a yield of 2.98%. This is a boost from Amgen’s previous quarterly dividend of $1.15. Amgen’s payout ratio is currently 41.55%.
AMGN has been the topic of a number of analyst reports. Oppenheimer reiterated a “buy” rating and issued a $203.00 price target on shares of Amgen in a report on Friday, October 6th. Mizuho reiterated a “buy” rating and issued a $198.00 price target on shares of Amgen in a report on Friday, October 6th. Cann reiterated a “buy” rating on shares of Amgen in a report on Monday, August 28th. Bank of America lifted their price target on Amgen to $210.00 and gave the company a “buy” rating in a report on Thursday, October 5th. Finally, Jefferies Group restated a “buy” rating and set a $200.00 target price on shares of Amgen in a research note on Monday, September 25th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. Amgen has an average rating of “Buy” and an average price target of $190.22.
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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