Amgen, Inc. (AMGN) Stake Increased by Farmers National Bank
Farmers National Bank grew its stake in shares of Amgen, Inc. (NASDAQ:AMGN) by 5.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,166 shares of the medical research company’s stock after purchasing an additional 264 shares during the quarter. Farmers National Bank’s holdings in Amgen were worth $890,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. RNC Capital Management LLC raised its holdings in shares of Amgen by 10.0% in the first quarter. RNC Capital Management LLC now owns 129,993 shares of the medical research company’s stock valued at $21,328,000 after acquiring an additional 11,822 shares in the last quarter. Meadow Creek Investment Management LLC raised its holdings in shares of Amgen by 22.4% in the first quarter. Meadow Creek Investment Management LLC now owns 25,200 shares of the medical research company’s stock valued at $4,135,000 after acquiring an additional 4,608 shares in the last quarter. Affinity Investment Advisors LLC raised its holdings in shares of Amgen by 1.0% in the first quarter. Affinity Investment Advisors LLC now owns 86,970 shares of the medical research company’s stock valued at $14,269,000 after acquiring an additional 884 shares in the last quarter. Main Street Research LLC raised its holdings in shares of Amgen by 1.0% in the first quarter. Main Street Research LLC now owns 68,468 shares of the medical research company’s stock valued at $11,233,000 after acquiring an additional 692 shares in the last quarter. Finally, Morningstar Investment Services LLC raised its holdings in shares of Amgen by 283.8% in the first quarter. Morningstar Investment Services LLC now owns 497,503 shares of the medical research company’s stock valued at $81,625,000 after acquiring an additional 367,894 shares in the last quarter. 78.62% of the stock is owned by hedge funds and other institutional investors.
In other news, EVP Sean E. Harper sold 1,525 shares of the company’s stock in a transaction dated Monday, October 9th. The shares were sold at an average price of $185.95, for a total transaction of $283,573.75. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Carbonnel Francois De sold 4,000 shares of the company’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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,575 shares of company stock worth $1,509,339. Corporate insiders own 0.19% of the company’s stock.
Amgen (NASDAQ:AMGN) last announced 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. The business had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.75 billion. Amgen had a net margin of 35.54% and a return on equity of 29.90%. The firm’s revenue was down .7% on a year-over-year basis. During the same period in the previous year, the company posted $3.02 earnings per share. equities analysts predict that Amgen, Inc. will post 12.66 EPS for the current fiscal year.
Amgen declared that its board has initiated a stock buyback plan on Wednesday, October 25th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the medical research company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 8th. Stockholders of record on Thursday, February 15th will be issued a dividend of $1.32 per share. The ex-dividend date is Wednesday, February 14th. This represents a $5.28 annualized dividend and a dividend yield of 3.02%. This is an increase from Amgen’s previous quarterly dividend of $1.15. Amgen’s dividend payout ratio is 41.55%.
AMGN has been the subject of several recent research reports. BMO Capital Markets restated a “market perform” rating and issued a $198.00 price objective on shares of Amgen in a report on Thursday, October 26th. Cann restated a “buy” rating on shares of Amgen in a report on Monday, August 28th. Oppenheimer restated a “buy” rating and issued a $203.00 price objective on shares of Amgen in a report on Thursday, September 7th. Mizuho restated a “buy” rating and issued a $198.00 price objective (up from $183.00) on shares of Amgen in a report on Thursday, September 28th. Finally, Zacks Investment Research downgraded Amgen from a “buy” rating to a “hold” rating in a report on Monday, October 16th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $190.22.
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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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