Aviance Capital Management LLC Raises Stake in Amgen Inc. (AMGN)
Aviance Capital Management LLC increased its position in Amgen Inc. (NASDAQ:AMGN) by 11.1% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 8,581 shares of the medical research company’s stock after buying an additional 858 shares during the period. Aviance Capital Management LLC’s holdings in Amgen were worth $1,306,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in AMGN. Oakworth Capital Inc. boosted its stake in shares of Amgen by 16.6% in the second quarter. Oakworth Capital Inc. now owns 701 shares of the medical research company’s stock worth $111,000 after buying an additional 100 shares during the period. Delta Asset Management LLC TN boosted its stake in shares of Amgen by 9.1% in the second quarter. Delta Asset Management LLC TN now owns 1,020 shares of the medical research company’s stock worth $155,000 after buying an additional 85 shares during the period. Capital Advisors Ltd. LLC boosted its stake in shares of Amgen by 0.6% in the second quarter. Capital Advisors Ltd. LLC now owns 1,078 shares of the medical research company’s stock worth $164,000 after buying an additional 6 shares during the period. Vigilant Capital Management LLC boosted its stake in shares of Amgen by 2.6% in the second quarter. Vigilant Capital Management LLC now owns 1,283 shares of the medical research company’s stock worth $195,000 after buying an additional 33 shares during the period. Finally, Evanson Asset Management LLC bought a new stake in shares of Amgen during the second quarter worth approximately $211,000. 79.15% of the stock is owned by institutional investors and hedge funds.
Amgen Inc. (NASDAQ:AMGN) traded up 0.36% during mid-day trading on Friday, reaching $167.50. The company’s stock had a trading volume of 1,679,823 shares. The firm has a 50 day moving average price of $170.75 and a 200 day moving average price of $161.82. Amgen Inc. has a 52-week low of $139.02 and a 52-week high of $176.85. The company has a market cap of $125.35 billion, a price-to-earnings ratio of 17.14 and a beta of 0.94.
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 Thomson Reuters’ consensus estimate of $2.74 by $0.10. The company earned $5.69 billion during the quarter, compared to the consensus estimate of $5.58 billion. Amgen had a return on equity of 29.30% and a net margin of 33.07%. The firm’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period last year, the business posted $2.57 EPS. Equities research analysts anticipate that Amgen Inc. will post $11.35 earnings per share for the current year.
The company 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. The ex-dividend date was Monday, August 15th. This represents a $4.00 annualized dividend and a dividend yield of 2.39%. Amgen’s dividend payout ratio is presently 40.90%.
A number of brokerages recently commented on AMGN. Vetr raised Amgen from a “sell” rating to a “hold” rating and set a $171.34 price objective for the company in a research note on Wednesday, August 3rd. Leerink Swann reissued a “hold” rating on shares of Amgen in a research note on Saturday, September 17th. Credit Suisse Group AG set a $206.00 target price on Amgen and gave the company a “buy” rating in a research note on Saturday, September 17th. Robert W. Baird reissued an “outperform” rating and issued a $157.00 target price on shares of Amgen in a research note on Friday, August 26th. Finally, Citigroup Inc. boosted their target price on Amgen from $165.00 to $175.00 and gave the company a “neutral” rating in a research note on Friday, July 29th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Amgen presently has a consensus rating of “Buy” and a consensus price target of $184.94.
In other news, VP Annette Louise Such sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, August 2nd. The stock was 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 Securities & Exchange Commission, which is available through this link. 0.20% of the stock is 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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