EP Wealth Advisors LLC Purchases 2,613 Shares of Amgen, Inc. (AMGN)
EP Wealth Advisors LLC increased its position in Amgen, Inc. (NASDAQ:AMGN) by 4.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 59,401 shares of the medical research company’s stock after acquiring an additional 2,613 shares during the quarter. Amgen comprises 1.3% of EP Wealth Advisors LLC’s investment portfolio, making the stock its 23rd largest holding. EP Wealth Advisors LLC’s holdings in Amgen were worth $10,231,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. TrimTabs Asset Management LLC increased its holdings in Amgen by 88.9% in the 1st 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 during the last quarter. Jackson Grant Investment Advisers Inc. grew its holdings in Amgen by 0.8% during the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 641 shares of the medical research company’s stock valued at $110,000 after buying an additional 5 shares in the last quarter. Omnia Family Wealth LLC grew its holdings in Amgen by 25.3% during the 2nd quarter. Omnia Family Wealth LLC now owns 729 shares of the medical research company’s stock valued at $125,000 after buying an additional 147 shares in the last quarter. Grove Bank & Trust grew its holdings in Amgen by 87.4% during the 2nd quarter. Grove Bank & Trust now owns 731 shares of the medical research company’s stock valued at $126,000 after buying an additional 341 shares in the last quarter. Finally, Enterprise Financial Services Corp grew its holdings in Amgen by 18.0% during the 2nd quarter. Enterprise Financial Services Corp now owns 748 shares of the medical research company’s stock valued at $129,000 after buying an additional 114 shares in the last quarter. 78.62% of the stock is owned by institutional investors.
A number of research firms have weighed in on AMGN. Zacks Investment Research lowered Amgen from a “buy” rating to a “hold” rating in a report on Monday, October 30th. Royal Bank of Canada reduced their target price on Amgen from $192.00 to $188.00 and set a “sector perform” rating for the company in a report on Thursday, October 26th. Credit Suisse Group reaffirmed 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. Oppenheimer reaffirmed a “buy” rating and set a $203.00 target price on shares of Amgen in a report on Thursday, September 7th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $199.00 target price on shares of Amgen in a report on Monday, September 25th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $190.22.
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 stock was 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 at 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 stock was sold at an average price of $171.58, for a total value 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 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 $1,509,339. Corporate insiders own 0.19% of the company’s stock.
Shares of Amgen, Inc. (NASDAQ AMGN) opened at $177.38 on Thursday. The stock has a market capitalization of $128,760.00, a PE ratio of 14.06, a PEG ratio of 2.56 and a beta of 1.36. 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, Inc. has a 12-month low of $145.12 and a 12-month high of $191.10.
Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Wednesday, October 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 $5.77 billion during the quarter, compared to the consensus estimate of $5.75 billion. Amgen had a return on equity of 29.90% and a net margin of 35.54%. The company’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter last year, the company posted $3.02 EPS. sell-side analysts forecast that Amgen, Inc. will post 12.66 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 8th. Stockholders of record on Thursday, February 15th will be given a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date is Wednesday, February 14th. This is an increase from Amgen’s previous quarterly dividend of $1.15. Amgen’s dividend payout ratio (DPR) is 41.55%.
Amgen announced that its board has authorized a share buyback program on Wednesday, October 25th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the medical research company to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
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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