Founders Capital Management LLC Holds Position in Amgen Inc. (NASDAQ:AMGN)
Founders Capital Management LLC maintained its stake in shares of Amgen Inc. (NASDAQ:AMGN) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,580 shares of the medical research company’s stock at the end of the second quarter. Amgen accounts for approximately 0.9% of Founders Capital Management LLC’s investment portfolio, making the stock its 28th largest position. Founders Capital Management LLC’s holdings in Amgen were worth $1,822,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of Amgen during the first quarter valued at approximately $110,402,000. Swiss National Bank raised its stake in shares of Amgen by 26.5% in the first quarter. Swiss National Bank now owns 2,636,008 shares of the medical research company’s stock valued at $432,490,000 after buying an additional 551,600 shares during the last quarter. Bank of Nova Scotia raised its stake in shares of Amgen by 414.4% in the first quarter. Bank of Nova Scotia now owns 601,862 shares of the medical research company’s stock valued at $98,747,000 after buying an additional 484,868 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Amgen by 37.4% in the first quarter. AQR Capital Management LLC now owns 1,443,129 shares of the medical research company’s stock valued at $236,775,000 after buying an additional 392,538 shares during the last quarter. Finally, Morningstar Investment Services LLC raised its stake in shares of Amgen by 283.8% in the first quarter. Morningstar Investment Services LLC now owns 497,503 shares of the medical research company’s stock valued at $81,625,000 after buying an additional 367,894 shares during the last quarter. 79.53% of the stock is currently owned by institutional investors.
Shares of Amgen Inc. (NASDAQ:AMGN) traded up 0.19% during mid-day trading on Friday, hitting $169.43. The stock had a trading volume of 1,571,584 shares. The stock has a 50 day moving average price of $174.48 and a 200-day moving average price of $167.49. The company has a market cap of $123.63 billion, a PE ratio of 15.43 and a beta of 1.35. Amgen Inc. has a 52-week low of $133.64 and a 52-week high of $184.21.
Amgen (NASDAQ:AMGN) last released 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. The company had revenue of $5.81 billion for the quarter, compared to analysts’ expectations of $5.67 billion. Amgen had a return on equity of 29.85% and a net margin of 35.46%. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.84 earnings per share. On average, equities analysts expect that Amgen Inc. will post $12.57 earnings per share for the current fiscal year.
The firm 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 dividend of $1.15 per share. 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 2.71%. Amgen’s dividend payout ratio (DPR) is presently 41.93%.
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Several analysts have commented on AMGN shares. Oppenheimer Holdings, Inc. reissued an “outperform” rating and issued a $189.00 price objective on shares of Amgen in a report on Friday, June 30th. Cowen and Company reissued an “outperform” rating and issued a $209.00 price objective on shares of Amgen in a report on Wednesday, April 19th. Jefferies Group LLC reissued a “hold” rating and issued a $180.00 price objective on shares of Amgen in a report on Monday, May 22nd. BidaskClub raised Amgen from a “buy” rating to a “strong-buy” rating in a report on Friday, June 23rd. Finally, Morgan Stanley raised their price objective on Amgen from $183.00 to $184.00 and gave the company an “overweight” rating in a report on Tuesday, June 13th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $186.64.
In other news, SVP Cynthia M. Patton sold 2,922 shares of Amgen stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $154.40, for a total transaction of $451,156.80. Following the sale, the senior vice president now owns 24,214 shares of the company’s stock, valued at $3,738,641.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.20% of the company’s stock.
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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