First Merchants Corp Buys 3,775 Shares of Amgen, Inc. (AMGN)
First Merchants Corp lifted its stake in Amgen, Inc. (NASDAQ:AMGN) by 21.1% in the 1st quarter, HoldingsChannel reports. The fund owned 21,673 shares of the medical research company’s stock after purchasing an additional 3,775 shares during the quarter. First Merchants Corp’s holdings in Amgen were worth $4,118,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in AMGN. Ruggie Capital Group grew its stake in Amgen by 297.1% during the 4th quarter. Ruggie Capital Group now owns 135 shares of the medical research company’s stock worth $26,000 after buying an additional 101 shares during the last quarter. Capital Financial Planning LLC purchased a new position in Amgen during the 4th quarter worth $27,000. Massey Quick Simon & CO. LLC grew its stake in Amgen by 710.5% during the 4th quarter. Massey Quick Simon & CO. LLC now owns 154 shares of the medical research company’s stock worth $30,000 after buying an additional 135 shares during the last quarter. Next Capital Management LLC purchased a new position in Amgen during the 4th quarter worth $33,000. Finally, Essex Investment Management Co. LLC purchased a new position in Amgen during the 4th quarter worth $39,000. 77.27% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Ronald D. Sugar sold 2,000 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $188.88, for a total value of $377,760.00. Following the sale, the director now owns 14,988 shares in the company, valued at $2,830,933.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 6,000 shares of company stock worth $1,115,580 in the last 90 days. Company insiders own 0.25% of the company’s stock.
Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, April 30th. The medical research company reported $3.56 EPS for the quarter, topping analysts’ consensus estimates of $3.45 by $0.11. Amgen had a return on equity of 71.02% and a net margin of 34.00%. The firm had revenue of $5.56 billion for the quarter, compared to the consensus estimate of $5.55 billion. During the same quarter in the prior year, the business earned $3.47 earnings per share. The company’s revenue was up .1% compared to the same quarter last year. On average, research analysts forecast that Amgen, Inc. will post 13.94 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be paid a $1.45 dividend. The ex-dividend date is Thursday, May 16th. This represents a $5.80 dividend on an annualized basis and a dividend yield of 3.48%. Amgen’s payout ratio is 40.28%.
AMGN has been the topic of several research analyst reports. Oppenheimer set a $210.00 price target on Amgen and gave the company a “buy” rating in a research note on Friday, May 24th. Citigroup upgraded Amgen from a “neutral” rating to a “buy” rating and dropped their price target for the company from $211.00 to $205.00 in a research note on Wednesday, May 22nd. Royal Bank of Canada reiterated a “neutral” rating and set a $192.00 price target on shares of Amgen in a research note on Tuesday, May 21st. Credit Suisse Group initiated coverage on Amgen in a research note on Monday, May 20th. They set an “outperform” rating and a $208.00 price target on the stock. Finally, Mizuho reiterated a “buy” rating and set a $208.00 price target on shares of Amgen in a research note on Friday, May 17th. One analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $208.35.
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Amgen Company Profile
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, and neuroscience. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Aranesp to treat anemia; Xgeva for skeletal-related events prevention; Sensipar/Mimpara products to treat sHPT in chronic kidney disease; and EPOGEN to treat a lower-than-normal number of red blood cells.
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