Amgen, Inc. (AMGN) Position Boosted by Howe & Rusling Inc.
Howe & Rusling Inc. lifted its stake in Amgen, Inc. (NASDAQ:AMGN) by 37.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,934 shares of the medical research company’s stock after purchasing an additional 1,063 shares during the quarter. Howe & Rusling Inc.’s holdings in Amgen were worth $734,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors also recently added to or reduced their stakes in the stock. Lincoln Capital Corp boosted its position in Amgen by 3.7% during the 3rd quarter. Lincoln Capital Corp now owns 18,480 shares of the medical research company’s stock worth $3,446,000 after acquiring an additional 664 shares during the period. Moloney Securities Asset Management LLC boosted its position in Amgen by 11.5% during the 3rd quarter. Moloney Securities Asset Management LLC now owns 10,481 shares of the medical research company’s stock worth $1,954,000 after acquiring an additional 1,084 shares during the period. PGGM Investments boosted its position in Amgen by 5.3% during the 3rd quarter. PGGM Investments now owns 706,628 shares of the medical research company’s stock worth $131,751,000 after acquiring an additional 35,692 shares during the period. Beacon Financial Group boosted its position in Amgen by 9.4% during the 3rd quarter. Beacon Financial Group now owns 46,553 shares of the medical research company’s stock worth $8,680,000 after acquiring an additional 3,990 shares during the period. Finally, Eqis Capital Management Inc. boosted its position in Amgen by 5.8% during the 3rd quarter. Eqis Capital Management Inc. now owns 32,335 shares of the medical research company’s stock worth $6,029,000 after acquiring an additional 1,770 shares during the period. Institutional investors and hedge funds own 78.62% of the company’s stock.
Amgen, Inc. (NASDAQ AMGN) opened at $177.04 on Monday. The company has a quick ratio of 5.72, a current ratio of 6.07 and a debt-to-equity ratio of 1.05. Amgen, Inc. has a one year low of $145.12 and a one year high of $191.10. The firm has a market capitalization of $128,515.28, a P/E ratio of 14.07, a P/E/G ratio of 2.57 and a beta of 1.36.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 8th. Investors of record on Thursday, February 15th will be paid a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a dividend yield of 2.98%. This is an increase from Amgen’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Wednesday, February 14th. Amgen’s dividend payout ratio (DPR) is presently 41.63%.
Amgen declared that its Board of Directors has approved a stock buyback program on Wednesday, October 25th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the medical research company to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.
AMGN has been the subject of several research reports. BMO Capital Markets reiterated a “market perform” rating and set a $198.00 price target on shares of Amgen in a report on Thursday, October 26th. Cann reiterated a “buy” rating on shares of Amgen in a report on Monday, August 28th. Oppenheimer reiterated a “buy” rating and set a $203.00 price target on shares of Amgen in a report on Thursday, September 7th. Mizuho reiterated a “buy” rating and set a $198.00 price target (up from $183.00) on shares of Amgen in a report on Thursday, September 28th. Finally, Zacks Investment Research lowered 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, ten have given a buy rating and one has issued a strong buy rating to the stock. Amgen currently has an average rating of “Hold” and an average target price of $190.22.
In other Amgen news, EVP Sean E. Harper sold 1,525 shares of Amgen stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $171.58, for a total value of $261,659.50. Following the transaction, the executive vice president now directly owns 57,631 shares of the company’s stock, valued at approximately $9,888,326.98. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Carbonnel Francois De sold 4,000 shares of Amgen stock in a transaction that occurred on 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. Insiders sold a total of 8,575 shares of company stock worth $1,509,339 over the last three months. 0.19% of the stock is owned by company insiders.
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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