Amgen, Inc. (AMGN) Holdings Lifted by Frontier Wealth Management LLC
Frontier Wealth Management LLC boosted its stake in shares of Amgen, Inc. (NASDAQ:AMGN) by 1.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,067 shares of the medical research company’s stock after acquiring an additional 714 shares during the quarter. Amgen accounts for 1.6% of Frontier Wealth Management LLC’s portfolio, making the stock its 10th largest position. Frontier Wealth Management LLC’s holdings in Amgen were worth $10,173,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently added to or reduced their stakes in the company. TrimTabs Asset Management LLC raised its stake in Amgen by 88.9% during the first 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 in the last quarter. Jackson Grant Investment Advisers Inc. raised its stake in Amgen by 0.8% during the second quarter. Jackson Grant Investment Advisers Inc. now owns 641 shares of the medical research company’s stock worth $110,000 after acquiring an additional 5 shares in the last quarter. American Beacon Advisors Inc. acquired a new position in Amgen during the first quarter worth $106,000. Omnia Family Wealth LLC raised its stake in Amgen by 25.3% during the second quarter. Omnia Family Wealth LLC now owns 729 shares of the medical research company’s stock worth $125,000 after acquiring an additional 147 shares in the last quarter. Finally, Grove Bank & Trust raised its stake in Amgen by 87.4% during the second quarter. Grove Bank & Trust now owns 731 shares of the medical research company’s stock worth $126,000 after acquiring an additional 341 shares in the last quarter. Hedge funds and other institutional investors own 78.38% of the company’s stock.
Amgen, Inc. (AMGN) opened at $175.41 on Friday. The stock has a market capitalization of $126,279.41, a PE ratio of 13.83, a P/E/G ratio of 2.52 and a beta of 1.36. Amgen, Inc. has a 1-year low of $141.00 and a 1-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.
Amgen (NASDAQ:AMGN) last posted 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. The business had revenue of $5.77 billion for the quarter, compared to analysts’ expectations of $5.75 billion. Amgen had a return on equity of 29.90% and a net margin of 35.54%. The firm’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter last year, the business earned $3.02 earnings per share. equities analysts forecast that Amgen, Inc. will post 12.66 EPS for the current year.
Amgen declared that its Board of Directors has initiated a share buyback program on Wednesday, October 25th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the medical research company to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.
The company also recently declared a quarterly dividend, which was paid on Friday, December 8th. Investors of record on Friday, November 17th were issued a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 2.62%. The ex-dividend date was Thursday, November 16th. Amgen’s dividend payout ratio is 41.63%.
In other Amgen news, 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 transaction of $261,659.50. Following the transaction, the executive vice president now owns 57,631 shares in the company, valued at $9,888,326.98. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, 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 value of $694,440.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,050 shares of company stock worth $1,239,673. 0.19% of the stock is owned by company insiders.
Several brokerages have recently commented on AMGN. BMO Capital Markets restated a “hold” rating and set a $199.00 target price on shares of Amgen in a report on Monday, September 25th. Oppenheimer restated a “buy” rating and set a $205.00 target price on shares of Amgen in a report on Thursday, November 30th. BidaskClub upgraded Amgen from a “strong sell” rating to a “sell” rating in a report on Saturday, December 2nd. Credit Suisse Group restated 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. Finally, Cann restated 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, thirteen have issued a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. Amgen presently has a consensus rating of “Hold” and a consensus price target of $190.22.
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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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