Harrington Investments INC Lowers Stock Position in Amgen Inc. (NASDAQ:AMGN)


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Harrington Investments INC trimmed its holdings in Amgen Inc. (NASDAQ:AMGN) by 3.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,416 shares of the medical research company’s stock after selling 394 shares during the quarter. Amgen comprises about 1.7% of Harrington Investments INC’s investment portfolio, making the stock its 20th biggest holding. Harrington Investments INC’s holdings in Amgen were worth $2,625,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Advisory Alpha LLC purchased a new stake in Amgen during the 3rd quarter valued at about $25,000. JFG Wealth Management LLC bought a new position in shares of Amgen in the third quarter worth approximately $28,000. Baron Financial Group LLC purchased a new stake in shares of Amgen during the third quarter valued at approximately $51,000. Paces Ferry Wealth Advisors LLC purchased a new stake in shares of Amgen during the third quarter valued at approximately $52,000. Finally, Demars Financial Group LLC bought a new stake in shares of Amgen during the second quarter valued at approximately $53,000. 75.23% of the stock is owned by institutional investors.

NASDAQ:AMGN traded up $1.15 during trading hours on Wednesday, hitting $237.74. 1,410,746 shares of the stock traded hands, compared to its average volume of 2,534,906. The company has a market cap of $138.40 billion, a price-to-earnings ratio of 19.18, a price-to-earnings-growth ratio of 1.85 and a beta of 0.76. Amgen Inc. has a 1 year low of $177.05 and a 1 year high of $264.97. The stock has a 50 day moving average price of $227.94 and a 200 day moving average price of $238.44. The company has a quick ratio of 1.88, a current ratio of 2.28 and a debt-to-equity ratio of 3.12.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Monday, November 2nd. The medical research company reported $4.37 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.75 by $0.62. Amgen had a net margin of 29.42% and a return on equity of 95.55%. The firm had revenue of $6.42 billion for the quarter, compared to the consensus estimate of $6.38 billion. Equities analysts forecast that Amgen Inc. will post 16.15 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 8th. Shareholders of record on Monday, February 15th will be issued a dividend of $1.76 per share. The ex-dividend date of this dividend is Thursday, February 11th. This is a boost from Amgen’s previous quarterly dividend of $1.60. This represents a $7.04 dividend on an annualized basis and a yield of 2.96%. Amgen’s dividend payout ratio (DPR) is currently 43.18%.

In other news, Director R Sanders Williams sold 250 shares of the company’s stock in a transaction dated Monday, November 9th. The stock was sold at an average price of $242.40, for a total value of $60,600.00. Following the completion of the transaction, the director now owns 4,909 shares of the company’s stock, valued at $1,189,941.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.36% of the stock is owned by insiders.

Several analysts have commented on AMGN shares. Barclays cut their target price on Amgen from $250.00 to $242.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 29th. Mizuho dropped their price objective on Amgen from $260.00 to $215.00 and set a “neutral” rating on the stock in a research report on Monday, November 2nd. Raymond James raised Amgen from a “market perform” rating to an “outperform” rating and set a $255.00 target price for the company in a research report on Monday, October 26th. The Goldman Sachs Group downgraded shares of Amgen from a “conviction-buy” rating to a “buy” rating in a report on Tuesday, December 15th. Finally, Bank of America reduced their price target on shares of Amgen from $275.00 to $265.00 and set a “buy” rating for the company in a research note on Thursday, October 29th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and eighteen have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $254.92.

About Amgen

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology and neuroscience areas. 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; Xgeva for skeletal-related events prevention; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Sensipar/Mimpara to treat secondary hyperparathyroidism; and EPOGEN to treat anemia caused by chronic kidney disease.

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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