Parametric Portfolio Associates LLC Grows Position in Amgen, Inc. (AMGN)
Parametric Portfolio Associates LLC increased its position in shares of Amgen, Inc. (NASDAQ:AMGN) by 3.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,333,853 shares of the medical research company’s stock after purchasing an additional 85,238 shares during the period. Parametric Portfolio Associates LLC’s holdings in Amgen were worth $435,147,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. Baker Ellis Asset Management LLC bought a new position in Amgen during the 3rd quarter worth $108,000. Phocas Financial Corp. bought a new position in Amgen during the 2nd quarter worth $110,000. Jackson Grant Investment Advisers Inc. increased its stake in Amgen by 0.8% during the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 641 shares of the medical research company’s stock worth $110,000 after acquiring an additional 5 shares during the period. Omnia Family Wealth LLC increased its stake in Amgen by 25.3% during the 2nd quarter. Omnia Family Wealth LLC now owns 729 shares of the medical research company’s stock worth $125,000 after acquiring an additional 147 shares during the period. Finally, Horan Capital Advisors LLC. bought a new position in Amgen during the 3rd quarter worth $150,000. 78.95% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have commented on AMGN shares. Zacks Investment Research upgraded Amgen from a “hold” rating to a “buy” rating and set a $199.00 price objective on the stock in a research note on Friday, October 27th. Citigroup lowered Amgen to a “neutral” rating in a research note on Monday, December 18th. Royal Bank of Canada lowered their price objective on Amgen from $192.00 to $188.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 26th. Goldman Sachs Group lowered Amgen from a “conviction-buy” rating to a “buy” rating in a research note on Friday, December 15th. Finally, Mizuho set a $198.00 price objective on Amgen and gave the stock a “buy” rating in a research note on Sunday, October 29th. Sixteen investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $191.84.
Amgen, Inc. (AMGN) opened at $175.94 on Wednesday. Amgen, Inc. has a 52 week low of $152.16 and a 52 week high of $201.23. The company has a quick ratio of 5.17, a current ratio of 5.49 and a debt-to-equity ratio of 1.35. The stock has a market capitalization of $126,138.88, a price-to-earnings ratio of 68.46, a PEG ratio of 2.15 and a beta of 1.42.
Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Thursday, February 1st. The medical research company reported $2.89 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.03 by ($0.14). The business had revenue of $5.80 billion during the quarter, compared to the consensus estimate of $5.84 billion. Amgen had a net margin of 8.66% and a return on equity of 30.87%. The company’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.89 EPS. sell-side analysts expect that Amgen, Inc. will post 13.22 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 8th. Investors of record on Thursday, February 15th will be given a dividend of $1.32 per share. The ex-dividend date is Wednesday, February 14th. This represents a $5.28 dividend on an annualized basis and a yield of 3.00%. This is a positive change from Amgen’s previous quarterly dividend of $1.15. Amgen’s payout ratio is currently 178.99%.
Amgen announced that its Board of Directors has authorized a share 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 reacquire shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.
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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