WESPAC Advisors LLC Has $1,566,000 Stake in Amgen Inc. (AMGN)
WESPAC Advisors LLC increased its position in shares of Amgen Inc. (NASDAQ:AMGN) by 21.4% during the second quarter, Holdings Channel reports. The firm owned 10,291 shares of the medical research company’s stock after buying an additional 1,813 shares during the period. Amgen accounts for approximately 1.6% of WESPAC Advisors LLC’s portfolio, making the stock its 18th largest position. WESPAC Advisors LLC’s holdings in Amgen were worth $1,566,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of AMGN. Bank of Montreal Can acquired a new position in shares of Amgen during the second quarter valued at about $383,036,000. Wellington Management Group LLP increased its position in Amgen by 16.0% in the first quarter. Wellington Management Group LLP now owns 13,544,922 shares of the medical research company’s stock worth $2,030,789,000 after buying an additional 1,864,688 shares during the period. Nordea Investment Management AB increased its position in Amgen by 37.1% in the second quarter. Nordea Investment Management AB now owns 5,719,168 shares of the medical research company’s stock worth $870,171,000 after buying an additional 1,547,099 shares during the period. NN Investment Partners Holdings N.V. purchased a new position in Amgen during the first quarter worth $113,507,000. Finally, UBS Asset Management Americas Inc. increased its position in Amgen by 12.4% in the first quarter. UBS Asset Management Americas Inc. now owns 3,712,647 shares of the medical research company’s stock worth $556,636,000 after buying an additional 409,863 shares during the period. Institutional investors and hedge funds own 79.15% of the company’s stock.
Amgen Inc. (NASDAQ:AMGN) traded up 0.13% during mid-day trading on Tuesday, reaching $167.55. The company had a trading volume of 2,797,603 shares. The stock has a 50 day moving average price of $171.31 and a 200-day moving average price of $161.60. The stock has a market capitalization of $125.39 billion, a P/E ratio of 17.15 and a beta of 0.94. Amgen Inc. has a 12-month low of $139.02 and a 12-month high of $176.85.
Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Wednesday, July 27th. The medical research company reported $2.84 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.74 by $0.10. Amgen had a return on equity of 29.30% and a net margin of 33.07%. The business had revenue of $5.69 billion for the quarter, compared to analysts’ expectations of $5.58 billion. During the same quarter in the previous year, the firm earned $2.57 earnings per share. The business’s revenue was up 5.9% on a year-over-year basis. Equities analysts anticipate that Amgen Inc. will post $11.36 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 8th. Shareholders of record on Wednesday, August 17th were given a $1.00 dividend. The ex-dividend date of this dividend was Monday, August 15th. This represents a $4.00 annualized dividend and a yield of 2.39%. Amgen’s dividend payout ratio is currently 40.90%.
A number of equities analysts have weighed in on AMGN shares. Vetr downgraded Amgen from a “hold” rating to a “sell” rating and set a $166.35 price target for the company. in a research report on Monday, August 1st. Goldman Sachs Group Inc. reaffirmed a “buy” rating and set a $204.00 price target on shares of Amgen in a research report on Thursday, September 8th. Cowen and Company reaffirmed a “buy” rating on shares of Amgen in a research report on Monday, September 19th. Jefferies Group reaffirmed a “buy” rating and set a $187.00 price target on shares of Amgen in a research report on Wednesday, July 13th. Finally, Piper Jaffray Cos. reaffirmed a “buy” rating and set a $193.00 price target on shares of Amgen in a research report on Thursday, July 28th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $184.94.
In other Amgen news, VP Annette Louise Such sold 3,000 shares of the business’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $174.59, for a total value of $523,770.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.20% 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. 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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