Meyer Handelman Co. boosted its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 1.4% during the second quarter, Holdings Channel reports. The fund owned 177,631 shares of the medical research company’s stock after buying an additional 2,408 shares during the period. Amgen makes up about 1.3% of Meyer Handelman Co.’s portfolio, making the stock its 23rd largest position. Meyer Handelman Co.’s holdings in Amgen were worth $30,594,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in AMGN. Garde Capital Inc. boosted its position in shares of Amgen by 30.2% in the fourth quarter. Garde Capital Inc. now owns 2,284 shares of the medical research company’s stock valued at $334,000 after buying an additional 530 shares during the last quarter. Kentucky Retirement Systems bought a new stake in shares of Amgen during the fourth quarter valued at about $7,893,000. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of Amgen during the fourth quarter valued at about $3,521,000. Searle & CO. bought a new stake in shares of Amgen during the fourth quarter valued at about $1,019,000. Finally, Opus Point Partners Management LLC raised its stake in shares of Amgen by 2.3% in the fourth quarter. Opus Point Partners Management LLC now owns 18,743 shares of the medical research company’s stock valued at $2,740,000 after buying an additional 421 shares during the period. 79.53% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Inc. (AMGN) traded up 0.09% during mid-day trading on Friday, hitting $169.27. 726,014 shares of the company were exchanged. The firm has a 50 day moving average price of $174.60 and a 200 day moving average price of $167.37. The stock has a market cap of $123.51 billion, a price-to-earnings ratio of 15.42 and a beta of 1.35. Amgen Inc. has a 12 month low of $133.64 and a 12 month high of $184.21.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, July 25th. The medical research company reported $3.27 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.11 by $0.16. Amgen had a return on equity of 29.85% and a net margin of 35.46%. The business had revenue of $5.81 billion during the quarter, compared to the consensus estimate of $5.67 billion. During the same period in the previous year, the business earned $2.84 EPS. The business’s quarterly revenue was up 2.1% on a year-over-year basis. Analysts anticipate that Amgen Inc. will post $12.57 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Thursday, August 17th will be issued a $1.15 dividend. The ex-dividend date of this dividend is Tuesday, August 15th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.72%. Amgen’s dividend payout ratio (DPR) is 41.93%.

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Several analysts recently issued reports on AMGN shares. Cowen and Company restated an “outperform” rating and issued a $209.00 price objective on shares of Amgen in a report on Wednesday, April 19th. Sanford C. Bernstein restated a “market perform” rating and issued a $178.00 price objective on shares of Amgen in a report on Tuesday, April 25th. Robert W. Baird restated a “neutral” rating and issued a $165.00 price objective on shares of Amgen in a report on Friday, April 28th. Mizuho set a $195.00 price objective on shares of Amgen and gave the company a “buy” rating in a report on Saturday, May 6th. Finally, Oppenheimer Holdings, Inc. set a $189.00 price objective on shares of Amgen and gave the company a “buy” rating in a report on Tuesday, May 9th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $186.64.

In other news, SVP Cynthia M. Patton sold 2,922 shares of the business’s stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $154.40, for a total value of $451,156.80. Following the completion of the sale, the senior vice president now directly owns 24,214 shares in the company, valued at approximately $3,738,641.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is currently owned by 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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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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