Independent Investors Inc. Raises Holdings in Amgen Inc. (AMGN)
Independent Investors Inc. lifted its holdings in Amgen Inc. (NASDAQ:AMGN) by 0.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,955 shares of the medical research company’s stock after purchasing an additional 100 shares during the period. Amgen accounts for about 2.5% of Independent Investors Inc.’s investment portfolio, making the stock its 9th biggest holding. Independent Investors Inc.’s holdings in Amgen were worth $5,675,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in AMGN. TrimTabs Asset Management LLC lifted its position in Amgen by 88.9% during the 1st quarter. TrimTabs Asset Management LLC now owns 612 shares of the medical research company’s stock worth $100,000 after acquiring an additional 288 shares during the last quarter. Alpha Omega Wealth Management LLC lifted its position in Amgen by 19.0% during the 1st quarter. Alpha Omega Wealth Management LLC now owns 625 shares of the medical research company’s stock worth $103,000 after acquiring an additional 100 shares during the last quarter. Jackson Grant Investment Advisers Inc. lifted its position in Amgen by 0.6% during the 1st quarter. Jackson Grant Investment Advisers Inc. now owns 636 shares of the medical research company’s stock worth $104,000 after acquiring an additional 4 shares during the last quarter. American Beacon Advisors Inc. acquired a new position in Amgen during the 1st quarter worth $106,000. Finally, Nelson Roberts Investment Advisors LLC acquired a new position in Amgen during the 1st quarter worth $121,000. 78.10% of the stock is owned by institutional investors and hedge funds.
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Shares of Amgen Inc. (NASDAQ AMGN) opened at 182.76 on Friday. The firm has a 50-day moving average of $183.15 and a 200 day moving average of $170.75. Amgen Inc. has a 52 week low of $133.64 and a 52 week high of $191.10. The company has a market cap of $133.36 billion, a P/E ratio of 16.65 and a beta of 1.36.
Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, July 25th. The medical research company reported $3.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.11 by $0.16. The firm had revenue of $5.81 billion for the quarter, compared to the consensus estimate of $5.67 billion. Amgen had a net margin of 35.46% and a return on equity of 29.85%. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.84 EPS. Equities analysts anticipate that Amgen Inc. will post $12.58 earnings per share for the current fiscal year.
In related news, EVP Sean E. Harper sold 1,525 shares of the business’s stock in a transaction on Monday, October 9th. The shares were sold at an average price of $185.95, for a total transaction of $283,573.75. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.19% of the stock is owned by insiders.
A number of research analysts have weighed in on the stock. Royal Bank Of Canada initiated coverage on shares of Amgen in a research report on Thursday, September 14th. They set a “sector perform” rating and a $192.00 target price for the company. Bank of America Corporation boosted their price objective on shares of Amgen to $210.00 and gave the stock a “buy” rating in a report on Thursday, October 5th. Oppenheimer Holdings, Inc. restated a “buy” rating and set a $203.00 price objective on shares of Amgen in a report on Friday, October 6th. Morgan Stanley restated an “overweight” rating and set a $196.00 price objective (up previously from $189.00) on shares of Amgen in a report on Friday, October 6th. Finally, Mizuho restated a “buy” rating and set a $198.00 price objective on shares of Amgen in a report on Friday, October 6th. Ten investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $189.99.
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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