Amgen, Inc. (AMGN) Position Lowered by Westside Investment Management Inc.
Westside Investment Management Inc. trimmed its stake in Amgen, Inc. (NASDAQ:AMGN) by 4.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,341 shares of the medical research company’s stock after selling 440 shares during the period. Amgen makes up 1.0% of Westside Investment Management Inc.’s investment portfolio, making the stock its 18th largest holding. Westside Investment Management Inc.’s holdings in Amgen were worth $1,609,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. FMR LLC boosted its stake in Amgen by 4.8% during 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 period. Vanguard Group Inc. boosted its stake in Amgen by 0.9% during 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 period. BlackRock Inc. boosted its stake in Amgen by 1.9% during 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 period. Nordea Investment Management AB lifted its stake in shares of 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 acquiring an additional 806,119 shares during the period. Finally, Legal & General Group Plc lifted its stake in shares of Amgen by 2.5% in the 2nd quarter. Legal & General Group Plc now owns 3,721,359 shares of the medical research company’s stock worth $640,938,000 after acquiring an additional 90,615 shares during the period. 78.62% of the stock is currently owned by hedge funds and other institutional investors.
AMGN has been the subject of several recent analyst reports. BMO Capital Markets restated a “market perform” rating and issued a $198.00 target price on shares of Amgen in a research note on Thursday, October 26th. Cann restated a “buy” rating on shares of Amgen in a research note on Monday, August 28th. Oppenheimer restated a “buy” rating and issued a $203.00 target price on shares of Amgen in a research note on Thursday, September 7th. Mizuho restated a “buy” rating and issued a $198.00 target price (up previously from $183.00) on shares of Amgen in a research note on Thursday, September 28th. Finally, Zacks Investment Research cut shares of Amgen from a “buy” rating to a “hold” rating in a research note on Monday, October 16th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. Amgen currently has an average rating of “Hold” and a consensus price target of $190.22.
Shares of Amgen, Inc. (NASDAQ:AMGN) opened at $176.83 on Tuesday. The company has a market cap of $127,331.98, a PE ratio of 13.94, a PEG ratio of 2.54 and a beta of 1.36. Amgen, Inc. has a twelve month low of $142.79 and a twelve month high of $191.10. The company has a current ratio of 6.07, a quick ratio of 5.72 and a debt-to-equity ratio of 1.05.
Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Wednesday, October 25th. The medical research company reported $3.27 EPS for the quarter, topping analysts’ consensus estimates of $3.11 by $0.16. The business had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.75 billion. Amgen had a net margin of 35.54% and a return on equity of 29.90%. The company’s quarterly revenue was down .7% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.02 earnings per share. research analysts predict that Amgen, Inc. will post 12.66 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 8th. Investors of record on Friday, November 17th were issued a $1.15 dividend. The ex-dividend date was Thursday, November 16th. This represents a $4.60 dividend on an annualized basis and a yield of 2.60%. Amgen’s payout ratio is 41.63%.
Amgen declared that its Board of Directors has authorized a share repurchase plan 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 purchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
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 value of $694,440.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Sean E. Harper sold 1,525 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $171.58, for a total transaction of $261,659.50. Following the completion of the sale, the executive vice president now owns 57,631 shares of the company’s stock, valued at $9,888,326.98. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,050 shares of company stock valued at $1,239,673. 0.19% of the stock is owned by insiders.
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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