Amgen, Inc. (AMGN) Shares Bought by RNC Capital Management LLC
RNC Capital Management LLC increased its stake in Amgen, Inc. (NASDAQ:AMGN) by 7.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 139,568 shares of the medical research company’s stock after purchasing an additional 9,575 shares during the period. Amgen accounts for 1.9% of RNC Capital Management LLC’s portfolio, making the stock its 28th largest holding. RNC Capital Management LLC’s holdings in Amgen were worth $24,038,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of the stock. FMR LLC raised its position in Amgen by 4.8% in the 2nd quarter. FMR LLC now owns 56,999,572 shares of the medical research company’s stock worth $9,817,037,000 after purchasing an additional 2,587,041 shares during the last quarter. Vanguard Group Inc. raised its position in Amgen by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 52,146,935 shares of the medical research company’s stock worth $8,981,266,000 after purchasing an additional 489,720 shares during the last quarter. BlackRock Inc. raised its position in Amgen by 1.9% in the 2nd quarter. BlackRock Inc. now owns 49,451,203 shares of the medical research company’s stock worth $8,516,980,000 after purchasing an additional 909,689 shares during the last quarter. Nordea Investment Management AB raised its position in Amgen by 12.9% in the 2nd quarter. Nordea Investment Management AB now owns 7,040,599 shares of the medical research company’s stock worth $1,212,602,000 after purchasing an additional 806,119 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in Amgen by 3.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,968,892 shares of the medical research company’s stock worth $683,562,000 after acquiring an additional 121,202 shares during the period. Hedge funds and other institutional investors own 78.62% of the company’s stock.
In other news, Director Carbonnel Francois De sold 4,000 shares of the business’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $173.61, for a total value of $694,440.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 disclosure for this sale can be found here. Insiders sold a total of 8,575 shares of company stock valued at $1,509,339 in the last three months. 0.19% of the stock is owned by company insiders.
A number of research firms have commented on AMGN. Oppenheimer set a $205.00 target price on shares of Amgen and gave the stock a “buy” rating in a report on Tuesday. BMO Capital Markets reaffirmed a “hold” rating and set a $199.00 target price on shares of Amgen in a report on Monday, September 25th. Credit Suisse Group reaffirmed a “neutral” rating and set a $186.00 target price (up previously from $177.00) on shares of Amgen in a report on Friday, September 29th. BidaskClub raised shares of Amgen from a “strong sell” rating to a “sell” rating in a report on Saturday, December 2nd. Finally, Cann reaffirmed a “buy” rating and set a $205.00 target price on shares of Amgen in a report on Thursday, November 30th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. Amgen presently has an average rating of “Buy” and a consensus target price of $190.22.
Amgen, Inc. (AMGN) opened at $174.92 on Friday. Amgen, Inc. has a fifty-two week low of $145.12 and a fifty-two week high of $191.10. The stock has a market cap of $128,760.00, a price-to-earnings ratio of 14.01, a PEG ratio of 2.55 and a beta of 1.36. The company has a debt-to-equity ratio of 1.05, a current ratio of 6.07 and a quick ratio of 5.72.
Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Wednesday, October 25th. The medical research company reported $3.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.11 by $0.16. Amgen had a net margin of 35.54% and a return on equity of 29.90%. The company had revenue of $5.77 billion during the quarter, compared to analyst estimates of $5.75 billion. During the same quarter in the previous year, the business earned $3.02 EPS. The firm’s revenue was down .7% on a year-over-year basis. sell-side analysts expect that Amgen, Inc. will post 12.66 earnings per share for the current fiscal year.
Amgen declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, October 25th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the medical research company to buy shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 8th. Stockholders of record on Thursday, February 15th will be issued a $1.32 dividend. This is a positive change from Amgen’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $5.28 annualized dividend and a dividend yield of 3.02%. Amgen’s payout ratio is 41.55%.
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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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