Pegasus Partners Ltd. Has $2,194,000 Position in Amgen Inc. (AMGN)
Pegasus Partners Ltd. boosted its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 15.3% during the second quarter, Holdings Channel reports. The fund owned 14,420 shares of the medical research company’s stock after buying an additional 1,910 shares during the period. Amgen makes up about 1.1% of Pegasus Partners Ltd.’s investment portfolio, making the stock its 27th largest position. Pegasus Partners Ltd.’s holdings in Amgen were worth $2,194,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently added to or reduced their stakes in AMGN. Oak Associates Ltd. OH raised its stake in Amgen by 0.3% in the first quarter. Oak Associates Ltd. OH now owns 210,710 shares of the medical research company’s stock valued at $31,592,000 after buying an additional 581 shares during the last quarter. National Pension Service increased its stake in Amgen by 4.2% in the first quarter. National Pension Service now owns 378,322 shares of the medical research company’s stock valued at $56,722,000 after buying an additional 15,376 shares during the period. Geode Capital Management LLC increased its stake in Amgen by 2.1% in the first quarter. Geode Capital Management LLC now owns 6,444,273 shares of the medical research company’s stock valued at $964,334,000 after buying an additional 132,632 shares during the period. Prudential PLC increased its stake in Amgen by 41.4% in the first quarter. Prudential PLC now owns 1,062,893 shares of the medical research company’s stock valued at $159,359,000 after buying an additional 311,157 shares during the period. Finally, Legal & General Group Plc increased its stake in Amgen by 1.0% in the first quarter. Legal & General Group Plc now owns 3,263,086 shares of the medical research company’s stock valued at $489,239,000 after buying an additional 32,086 shares during the period. 79.18% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Amgen Inc. (NASDAQ:AMGN) traded up 1.41% during midday trading on Tuesday, hitting $173.80. 1,485,395 shares of the stock were exchanged. Amgen Inc. has a 12-month low of $130.09 and a 12-month high of $176.64. The company has a market cap of $130.06 billion, a PE ratio of 17.79 and a beta of 0.87. The firm has a 50-day moving average price of $172.00 and a 200-day moving average price of $159.47.
Amgen (NASDAQ:AMGN) last issued its earnings results on Wednesday, July 27th. The medical research company reported $2.84 EPS for the quarter, beating the Zacks’ consensus estimate of $2.74 by $0.10. Amgen had a net margin of 33.07% and a return on equity of 29.30%. The business had revenue of $5.69 billion for the quarter, compared to the consensus estimate of $5.58 billion. During the same quarter last year, the firm posted $2.57 EPS. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. On average, equities analysts predict that Amgen Inc. will post $11.36 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 8th. Stockholders of record on Wednesday, August 17th were paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date was Monday, August 15th. Amgen’s dividend payout ratio is presently 40.90%.
Several analysts recently weighed in on AMGN shares. Goldman Sachs Group Inc. reiterated a “buy” rating on shares of Amgen in a report on Wednesday, June 29th. Zacks Investment Research upgraded shares of Amgen from a “hold” rating to a “buy” rating and set a $166.00 target price for the company in a report on Wednesday, June 29th. Vetr upgraded shares of Amgen from a “hold” rating to a “buy” rating and set a $159.50 target price for the company in a report on Monday, June 13th. BMO Capital Markets reiterated a “buy” rating and issued a $186.00 target price on shares of Amgen in a report on Tuesday, July 12th. Finally, Jefferies Group reiterated a “buy” rating and issued a $187.00 target price on shares of Amgen in a report on Wednesday, July 13th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $184.87.
In other news, VP Annette Louise Such sold 3,000 shares of the firm’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $174.59, for a total value of $523,770.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.20% of the stock is currently owned by insiders.
Amgen Inc is a biotechnology company. The Company discovers, develops, manufactures and delivers various human therapeutics. The Company’s business segment is human therapeutics. 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 Vectibix (panitumumab), Nplate (romiplostim) and Corlanor (ivabradine).
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