DAVENPORT & Co LLC Has $36.26 Million Stake in Amgen Inc. (AMGN)
DAVENPORT & Co LLC trimmed its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 0.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 241,239 shares of the medical research company’s stock after selling 1,615 shares during the quarter. DAVENPORT & Co LLC’s holdings in Amgen were worth $36,261,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Jackson Grant Investment Advisers Inc. increased its position in shares of Amgen by 0.6% during the first quarter. Jackson Grant Investment Advisers Inc. now owns 636 shares of the medical research company’s stock worth $104,000 after acquiring an additional 4 shares during the last quarter. Conservest Capital Advisors Inc. increased its position in shares of Amgen by 0.4% during the second quarter. Conservest Capital Advisors Inc. now owns 3,130 shares of the medical research company’s stock worth $539,000 after acquiring an additional 13 shares during the last quarter. M Holdings Securities Inc. increased its position in shares of Amgen by 0.6% during the first quarter. M Holdings Securities Inc. now owns 2,825 shares of the medical research company’s stock worth $463,000 after acquiring an additional 18 shares during the last quarter. Kovitz Investment Group Partners LLC increased its position in shares of Amgen by 1.2% during the first quarter. Kovitz Investment Group Partners LLC now owns 3,223 shares of the medical research company’s stock worth $529,000 after acquiring an additional 38 shares during the last quarter. Finally, AMG Funds LLC increased its position in shares of Amgen by 0.4% during the first quarter. AMG Funds LLC now owns 10,089 shares of the medical research company’s stock worth $1,655,000 after acquiring an additional 41 shares during the last quarter. 78.09% of the stock is currently owned by institutional investors and hedge funds.
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Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, July 25th. The medical research company reported $3.27 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.11 by $0.16. The company had revenue of $5.81 billion during the quarter, compared to analyst estimates of $5.67 billion. Amgen had a net margin of 35.46% and a return on equity of 29.85%. The company’s revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the business posted $2.84 earnings per share.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Thursday, August 17th were issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 2.44%. The ex-dividend date was Tuesday, August 15th. Amgen’s payout ratio is 41.93%.
A number of analysts have recently issued reports on AMGN shares. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $189.00 target price on shares of Amgen in a research report on Friday, June 30th. BidaskClub raised Amgen from a “buy” rating to a “strong-buy” rating in a report on Friday, June 23rd. Credit Suisse Group set a $177.00 price objective on Amgen and gave the company a “hold” rating in a report on Friday, July 14th. Morgan Stanley boosted their price objective on Amgen from $183.00 to $184.00 and gave the company an “overweight” rating in a report on Tuesday, June 13th. Finally, Deutsche Bank AG reissued a “hold” rating and issued a $174.00 price objective (up from $172.00) on shares of Amgen in a report on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $186.14.
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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