Amgen, Inc. (AMGN) Shares Bought by Sandy Spring Bank
Sandy Spring Bank lifted its holdings in shares of Amgen, Inc. (NASDAQ:AMGN) by 2.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 15,402 shares of the medical research company’s stock after purchasing an additional 388 shares during the period. Sandy Spring Bank’s holdings in Amgen were worth $2,872,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the company. Bradley Foster & Sargent Inc. CT boosted its holdings in Amgen by 24.9% in the third quarter. Bradley Foster & Sargent Inc. CT now owns 7,582 shares of the medical research company’s stock valued at $1,414,000 after acquiring an additional 1,510 shares during the last quarter. Swiss National Bank boosted its holdings in Amgen by 0.8% in the third quarter. Swiss National Bank now owns 2,712,308 shares of the medical research company’s stock valued at $505,710,000 after acquiring an additional 21,400 shares during the last quarter. Sunbelt Securities Inc. boosted its holdings in Amgen by 93.3% in the third quarter. Sunbelt Securities Inc. now owns 3,430 shares of the medical research company’s stock valued at $639,000 after acquiring an additional 1,656 shares during the last quarter. Jaffetilchin Investment Partners LLC bought a new position in Amgen in the third quarter valued at about $675,000. Finally, Bank of Hawaii boosted its holdings in Amgen by 12.2% in the third quarter. Bank of Hawaii now owns 15,568 shares of the medical research company’s stock valued at $2,903,000 after acquiring an additional 1,689 shares during the last quarter. Institutional investors own 78.46% of the company’s stock.
Several research firms recently issued reports on AMGN. Mizuho set a $192.00 price target on Amgen and gave the company a “buy” rating in a report on Friday, December 22nd. Zacks Investment Research cut Amgen from a “buy” rating to a “hold” rating in a report on Monday, October 30th. Royal Bank of Canada decreased their price target on Amgen from $192.00 to $188.00 and set a “sector perform” rating on the stock in a report on Thursday, October 26th. Credit Suisse Group reiterated a “neutral” rating and issued a $186.00 price target (up previously from $177.00) on shares of Amgen in a report on Friday, September 29th. Finally, Oppenheimer reiterated a “buy” rating and issued a $205.00 price target on shares of Amgen in a report on Thursday, November 30th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and ten have given a buy rating to the stock. Amgen presently has a consensus rating of “Hold” and a consensus target price of $190.15.
Amgen, Inc. (AMGN) opened at $182.86 on Thursday. Amgen, Inc. has a one year low of $150.38 and a one year high of $191.10. The company has a quick ratio of 5.72, a current ratio of 6.07 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $132,740.00, a PE ratio of 16.52, a price-to-earnings-growth ratio of 2.60 and a beta of 1.36.
Amgen (NASDAQ:AMGN) last released its earnings results on Wednesday, October 25th. The medical research company reported $3.27 earnings per share for the quarter, beating the consensus estimate of $3.11 by $0.16. Amgen had a return on equity of 29.90% and a net margin of 35.54%. The firm had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.75 billion. During the same quarter in the prior year, the firm posted $3.02 earnings per share. The company’s quarterly revenue was down .7% on a year-over-year basis. equities research analysts expect that Amgen, Inc. will post 12.71 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 8th. Stockholders of record on Thursday, February 15th will be given a dividend of $1.32 per share. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 2.89%. This is a positive change from Amgen’s previous quarterly dividend of $1.15. Amgen’s dividend payout ratio (DPR) is currently 41.55%.
Amgen announced that its board has approved a share buyback program on Wednesday, October 25th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the medical research company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.
In other news, Director Carbonnel Francois De sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $173.61, for a total transaction of $694,440.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Sean E. Harper sold 1,525 shares of the firm’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $171.58, for a total value of $261,659.50. Following the sale, the executive vice president now directly owns 57,631 shares in the company, valued at approximately $9,888,326.98. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,050 shares of company stock worth $1,225,765. 0.19% of the stock is currently owned by insiders.
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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