Everence Capital Management Inc. Has $2,908,000 Stake in Amgen Inc. (AMGN)
Everence Capital Management Inc. held its stake in Amgen Inc. (NASDAQ:AMGN) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,883 shares of the medical research company’s stock at the close of the second quarter. Everence Capital Management Inc.’s holdings in Amgen were worth $2,908,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also modified their holdings of AMGN. TrimTabs Asset Management LLC boosted its position in Amgen by 88.9% during the first quarter. TrimTabs Asset Management LLC now owns 612 shares of the medical research company’s stock valued at $100,000 after purchasing an additional 288 shares during the last quarter. Alpha Omega Wealth Management LLC boosted its position in Amgen by 19.0% during the first quarter. Alpha Omega Wealth Management LLC now owns 625 shares of the medical research company’s stock valued at $103,000 after purchasing an additional 100 shares during the last quarter. Jackson Grant Investment Advisers Inc. boosted its position in Amgen by 0.6% during the first quarter. Jackson Grant Investment Advisers Inc. now owns 636 shares of the medical research company’s stock valued at $104,000 after purchasing an additional 4 shares during the last quarter. American Beacon Advisors Inc. acquired a new stake in Amgen during the first quarter valued at $106,000. Finally, Nelson Roberts Investment Advisors LLC acquired a new stake in Amgen during the first quarter valued at $121,000. Institutional investors and hedge funds own 78.13% of the company’s stock.
Amgen (NASDAQ:AMGN) last issued its earnings results on Wednesday, October 25th. The medical research company reported $3.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.11 by $0.16. Amgen had a net margin of 35.54% and a return on equity of 29.90%. The business had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.75 billion. During the same period last year, the business posted $3.02 EPS. Amgen’s revenue was down .7% on a year-over-year basis.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 17th will be given a dividend of $1.15 per share. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $4.60 annualized dividend and a yield of 2.67%. Amgen’s dividend payout ratio (DPR) is presently 41.63%.
Amgen announced that its Board of Directors has initiated a stock buyback program on Wednesday, October 25th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the medical research company to repurchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.
In other Amgen news, EVP Sean E. Harper sold 1,525 shares of the firm’s stock in a transaction that occurred on Monday, October 9th. The shares were sold at an average price of $185.95, for a total transaction of $283,573.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.19% of the company’s stock.
A number of research firms recently issued reports on AMGN. Zacks Investment Research cut Amgen from a “buy” rating to a “hold” rating in a research report on Monday. Royal Bank Of Canada reduced their price objective on Amgen from $192.00 to $188.00 and set a “sector perform” rating for the company in a research report on Thursday, October 26th. BMO Capital Markets cut Amgen from an “outperform” rating to a “market perform” rating and set a $199.00 price objective for the company. in a research report on Friday, July 21st. They noted that the move was a valuation call. Credit Suisse Group reissued a “neutral” rating and set a $186.00 price objective (up previously from $177.00) on shares of Amgen in a research report on Friday, September 29th. Finally, Oppenheimer Holdings, Inc. reissued a “buy” rating and set a $203.00 price objective on shares of Amgen in a research report on Thursday, September 7th. Thirteen investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $190.03.
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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