GHP Investment Advisors Inc. Boosts Stake in Amgen Inc. (AMGN)
GHP Investment Advisors Inc. raised its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 10.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 8,134 shares of the medical research company’s stock after purchasing an additional 760 shares during the quarter. GHP Investment Advisors Inc.’s holdings in Amgen were worth $1,401,000 as of its most recent filing with the SEC.
Other large investors also recently bought and sold shares of the company. TrimTabs Asset Management LLC increased its holdings in shares of Amgen by 88.9% during the 1st quarter. TrimTabs Asset Management LLC now owns 612 shares of the medical research company’s stock worth $100,000 after purchasing an additional 288 shares during the period. Jackson Grant Investment Advisers Inc. increased its holdings in shares of Amgen by 0.6% during the 1st quarter. Jackson Grant Investment Advisers Inc. now owns 636 shares of the medical research company’s stock worth $104,000 after purchasing an additional 4 shares during the period. American Beacon Advisors Inc. bought a new position in shares of Amgen during the 1st quarter worth about $106,000. Grove Bank & Trust increased its holdings in shares of Amgen by 87.4% during the 2nd quarter. Grove Bank & Trust now owns 731 shares of the medical research company’s stock worth $126,000 after purchasing an additional 341 shares during the period. Finally, Nelson Roberts Investment Advisors LLC bought a new position in shares of Amgen during the 1st quarter worth about $121,000. Institutional investors own 78.54% of the company’s stock.
Amgen Inc. (NASDAQ:AMGN) opened at $172.35 on Friday. Amgen Inc. has a 12-month low of $138.83 and a 12-month high of $191.10. The stock has a market cap of $126,308.45, a P/E ratio of 13.83, a PEG ratio of 2.52 and a beta of 1.37. The company has a debt-to-equity ratio of 1.05, a quick ratio of 5.72 and a current ratio of 6.07.
Amgen (NASDAQ:AMGN) last announced its earnings results on Wednesday, October 25th. The medical research company reported $3.27 earnings per share (EPS) for the quarter, topping the Zacks’ 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 company had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.75 billion. During the same period in the prior year, the business earned $3.02 earnings per share. Amgen’s quarterly revenue was down .7% on a year-over-year basis. research analysts anticipate that Amgen Inc. will post 12.66 EPS for the current fiscal year.
Amgen declared that its Board of Directors has authorized a stock buyback plan on Wednesday, October 25th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the medical research company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.67%. Amgen’s payout ratio is 41.63%.
AMGN has been the topic of several research reports. Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $203.00 price objective (up previously from $189.00) on shares of Amgen in a report on Wednesday, July 26th. BMO Capital Markets downgraded shares of Amgen from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 26th. Mizuho restated a “buy” rating and set a $198.00 price objective (up previously from $183.00) on shares of Amgen in a report on Thursday, September 28th. Argus boosted their price objective on shares of Amgen from $180.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, July 27th. Finally, Deutsche Bank AG restated a “hold” rating and set a $174.00 price objective (up previously from $172.00) on shares of Amgen in a report on Wednesday, July 26th. Thirteen analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $190.03.
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In related news, Director Carbonnel Francois De sold 4,000 shares of the stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $173.61, for a total value of $694,440.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Sean E. Harper sold 1,525 shares of the 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 disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.
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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