Amgen, Inc. (AMGN) Position Lowered by Thompson Investment Management Inc.
Thompson Investment Management Inc. cut its position in shares of Amgen, Inc. (NASDAQ:AMGN) by 1.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 28,407 shares of the medical research company’s stock after selling 314 shares during the period. Thompson Investment Management Inc.’s holdings in Amgen were worth $5,297,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in AMGN. Welch Group LLC purchased a new stake in Amgen in the 2nd quarter valued at about $639,000. DekaBank Deutsche Girozentrale boosted its position in Amgen by 2.8% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 883,579 shares of the medical research company’s stock valued at $152,927,000 after buying an additional 24,219 shares during the period. Pacer Advisors Inc. boosted its position in Amgen by 10.3% in the 2nd quarter. Pacer Advisors Inc. now owns 25,378 shares of the medical research company’s stock valued at $4,371,000 after buying an additional 2,362 shares during the period. Wesbanco Bank Inc. boosted its position in Amgen by 6.5% in the 2nd quarter. Wesbanco Bank Inc. now owns 106,792 shares of the medical research company’s stock valued at $18,393,000 after buying an additional 6,492 shares during the period. Finally, Coho Partners Ltd. boosted its position in Amgen by 25.8% in the 2nd quarter. Coho Partners Ltd. now owns 1,034,651 shares of the medical research company’s stock valued at $178,198,000 after buying an additional 212,213 shares during the period. 78.48% of the stock is owned by hedge funds and other institutional investors.
Shares of Amgen, Inc. (AMGN) opened at $189.28 on Friday. Amgen, Inc. has a twelve month low of $150.38 and a twelve month high of $191.10. The company has a debt-to-equity ratio of 1.05, a current ratio of 6.07 and a quick ratio of 5.72. The company has a market cap of $136,173.56, a PE ratio of 17.13, a PEG ratio of 2.74 and a beta of 1.36.
Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Wednesday, October 25th. The medical research company reported $3.27 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 business 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 posted $3.02 EPS. The company’s quarterly revenue was down .7% compared to the same quarter last year. sell-side analysts expect that Amgen, Inc. will post 12.71 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 8th. Investors of record on Thursday, February 15th will be paid a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend is Wednesday, February 14th. This is a positive change from Amgen’s previous quarterly dividend of $1.15. Amgen’s payout ratio is 41.63%.
Amgen declared that its board has approved a stock repurchase 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 leadership believes its stock is undervalued.
Several research firms have issued reports on AMGN. Credit Suisse Group reissued a “neutral” rating and issued a $186.00 price objective (up from $177.00) on shares of Amgen in a research report on Friday, September 29th. BidaskClub raised shares of Amgen from a “sell” rating to a “hold” rating in a research report on Thursday. Royal Bank of Canada lowered their price objective on shares of Amgen from $192.00 to $188.00 and set a “sector perform” rating for the company in a research report on Thursday, October 26th. Oppenheimer set a $205.00 price objective on shares of Amgen and gave the company a “buy” rating in a research report on Friday, January 5th. Finally, Morgan Stanley lowered their price objective on shares of Amgen from $196.00 to $193.00 and set an “overweight” rating for the company in a research report on Thursday, October 26th. Fifteen analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $190.15.
In related news, Director Carbonnel Francois De sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The shares were 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Sean E. Harper sold 1,525 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $171.58, for a total transaction of $261,659.50. Following the transaction, the executive vice president now owns 57,631 shares of the company’s stock, valued at approximately $9,888,326.98. The disclosure for this sale can be found here. In the last quarter, insiders have sold 8,575 shares of company stock valued at $1,508,836. 0.19% of the stock is currently owned by company insiders.
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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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