Amgen, Inc. (AMGN) Shares Sold by Formidable Asset Management LLC
Formidable Asset Management LLC cut its holdings in shares of Amgen, Inc. (NASDAQ:AMGN) by 13.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,946 shares of the medical research company’s stock after selling 637 shares during the period. Formidable Asset Management LLC’s holdings in Amgen were worth $680,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. TrimTabs Asset Management LLC grew 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. American Beacon Advisors Inc. acquired a new position in Amgen during the 1st quarter worth $106,000. Jackson Grant Investment Advisers Inc. lifted its holdings in Amgen by 0.8% during the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 641 shares of the medical research company’s stock worth $110,000 after buying an additional 5 shares in the last quarter. Omnia Family Wealth LLC lifted its holdings in Amgen by 25.3% during the 2nd quarter. Omnia Family Wealth LLC now owns 729 shares of the medical research company’s stock worth $125,000 after buying an additional 147 shares in the last quarter. Finally, Grove Bank & Trust lifted its holdings in Amgen by 87.4% during the 2nd quarter. Grove Bank & Trust now owns 731 shares of the medical research company’s stock worth $126,000 after buying an additional 341 shares in the last quarter. Institutional investors and hedge funds own 78.38% of the company’s stock.
Several research firms have issued reports on AMGN. BidaskClub raised Amgen from a “strong sell” rating to a “sell” rating in a report on Saturday, December 2nd. Oppenheimer reaffirmed a “buy” rating and set a $205.00 price objective on shares of Amgen in a report on Thursday, November 30th. Cann reaffirmed a “buy” rating and set a $205.00 price objective on shares of Amgen in a report on Thursday, November 30th. Argus downgraded Amgen from a “buy” rating to a “hold” rating and upped their price objective for the stock from $175.22 to $195.00 in a report on Wednesday, November 1st. Finally, Zacks Investment Research downgraded Amgen from a “buy” rating to a “hold” rating in a report on Monday, October 30th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. The company has an average rating of “Hold” and an average price target of $190.22.
Shares of Amgen, Inc. (NASDAQ:AMGN) opened at $173.96 on Friday. The company has a market capitalization of $127,919.96, a price-to-earnings ratio of 14.01, a P/E/G ratio of 2.55 and a beta of 1.36. Amgen, Inc. has a 12 month low of $138.83 and a 12 month high of $191.10. The company has a debt-to-equity ratio of 1.05, a quick ratio of 5.72 and a current ratio of 6.07.
Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Wednesday, October 25th. The medical research company reported $3.27 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.11 by $0.16. The business had revenue of $5.77 billion for the quarter, compared to the consensus estimate of $5.75 billion. Amgen had a return on equity of 29.90% and a net margin of 35.54%. The firm’s revenue was down .7% compared to the same quarter last year. During the same quarter last year, the business posted $3.02 EPS. analysts expect that Amgen, Inc. will post 12.66 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 17th will be paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 2.64%. The ex-dividend date is Thursday, November 16th. Amgen’s payout ratio is presently 41.63%.
Amgen declared that its board has initiated a share buyback program on Wednesday, October 25th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the medical research company to reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.
In other Amgen news, EVP Sean E. Harper sold 1,525 shares of the stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $185.95, for a total transaction of $283,573.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Carbonnel Francois De sold 4,000 shares of the stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $173.61, for a total value of $694,440.00. The disclosure for this sale can be found here. Insiders have sold a total of 7,050 shares of company stock worth $1,239,673 in the last ninety days. 0.19% of the stock is currently owned by company insiders.
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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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