CCM Investment Advisers LLC Has $9.59 Million Position in Amgen Inc. (AMGN)
CCM Investment Advisers LLC lowered its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 1.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,437 shares of the medical research company’s stock after selling 883 shares during the period. Amgen comprises approximately 1.9% of CCM Investment Advisers LLC’s holdings, making the stock its 16th largest position. CCM Investment Advisers LLC’s holdings in Amgen were worth $9,587,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. TrimTabs Asset Management LLC increased its position in Amgen by 88.9% in the first quarter. TrimTabs Asset Management LLC now owns 612 shares of the medical research company’s stock valued at $100,000 after buying an additional 288 shares in the last quarter. Alpha Omega Wealth Management LLC increased its position in Amgen by 19.0% in the first quarter. Alpha Omega Wealth Management LLC now owns 625 shares of the medical research company’s stock valued at $103,000 after buying an additional 100 shares in the last quarter. Jackson Grant Investment Advisers Inc. increased its position in Amgen by 0.6% in the first quarter. Jackson Grant Investment Advisers Inc. now owns 636 shares of the medical research company’s stock valued at $104,000 after buying an additional 4 shares in the last quarter. American Beacon Advisors Inc. bought a new position in Amgen during the first quarter valued at $106,000. Finally, Nelson Roberts Investment Advisors LLC bought a new position in Amgen during the first quarter valued at $121,000. 79.12% of the stock is currently owned by hedge funds and other institutional investors.
Amgen Inc. (NASDAQ:AMGN) traded up 1.27% on Wednesday, hitting $172.20. The stock had a trading volume of 477,177 shares. Amgen Inc. has a 52-week low of $133.64 and a 52-week high of $184.21. The company has a market cap of $125.65 billion, a P/E ratio of 15.68 and a beta of 1.35. The firm’s 50-day moving average is $174.35 and its 200-day moving average is $167.93.
Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, July 25th. The medical research company reported $3.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.11 by $0.16. The firm had revenue of $5.81 billion during the quarter, compared to analyst estimates of $5.67 billion. Amgen had a return on equity of 29.85% and a net margin of 35.46%. Amgen’s revenue was up 2.1% compared to the same quarter last year. During the same period last year, the business posted $2.84 earnings per share. Equities research analysts anticipate that Amgen Inc. will post $12.57 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Thursday, August 17th will be issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date of this dividend is Tuesday, August 15th. Amgen’s dividend payout ratio (DPR) is 41.93%.
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AMGN has been the topic of several analyst reports. Oppenheimer Holdings, Inc. set a $189.00 target price on Amgen and gave the company a “buy” rating in a research report on Tuesday, May 9th. Mizuho set a $195.00 target price on Amgen and gave the company a “buy” rating in a research report on Saturday, May 6th. Cowen and Company reissued a “buy” rating and set a $209.00 target price on shares of Amgen in a research report on Thursday, April 27th. BMO Capital Markets restated a “buy” rating and set a $198.00 price objective (down previously from $200.00) on shares of Amgen in a report on Monday, May 22nd. Finally, ValuEngine upgraded Amgen from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, twelve have issued 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 price target of $186.64.
In other Amgen news, SVP Cynthia M. Patton sold 2,922 shares of Amgen stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $154.40, for a total transaction of $451,156.80. Following the completion of the sale, the senior vice president now directly owns 24,214 shares of the company’s stock, valued at approximately $3,738,641.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.20% 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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