HL Financial Services LLC Decreases Position in Amgen, Inc. (AMGN)
HL Financial Services LLC cut its position in shares of Amgen, Inc. (NASDAQ:AMGN) by 27.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 51,486 shares of the medical research company’s stock after selling 19,098 shares during the period. HL Financial Services LLC’s holdings in Amgen were worth $9,600,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Courier Capital LLC grew its stake in Amgen by 185.1% in the third quarter. Courier Capital LLC now owns 50,989 shares of the medical research company’s stock valued at $9,507,000 after purchasing an additional 33,102 shares in the last quarter. FDx Advisors Inc. grew its stake in Amgen by 2.8% in the third quarter. FDx Advisors Inc. now owns 52,326 shares of the medical research company’s stock valued at $9,756,000 after purchasing an additional 1,443 shares in the last quarter. Alpha Omega Wealth Management LLC grew its stake in Amgen by 125.9% in the third quarter. Alpha Omega Wealth Management LLC now owns 1,412 shares of the medical research company’s stock valued at $263,000 after purchasing an additional 787 shares in the last quarter. Alps Advisors Inc. grew its stake in Amgen by 7.1% in the third quarter. Alps Advisors Inc. now owns 5,249 shares of the medical research company’s stock valued at $979,000 after purchasing an additional 349 shares in the last quarter. Finally, Jennison Associates LLC bought a new position in Amgen in the third quarter valued at approximately $35,379,000. Institutional investors and hedge funds own 78.46% of the company’s stock.
In other news, Director Carbonnel Francois De sold 4,000 shares of Amgen stock in a transaction on Wednesday, November 8th. The stock was 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 is available at this hyperlink. Also, EVP Sean E. Harper sold 1,525 shares of Amgen stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $176.83, for a total value of $269,665.75. Following the completion of the transaction, the executive vice president now owns 56,106 shares in the company, valued at approximately $9,921,223.98. The disclosure for this sale can be found here. Insiders sold a total of 7,050 shares of company stock valued at $1,225,765 over the last ninety days. Insiders own 0.19% of the company’s stock.
Amgen, Inc. (NASDAQ:AMGN) opened at $181.96 on Friday. The firm has a market capitalization of $132,090.00, a price-to-earnings ratio of 16.44, a price-to-earnings-growth ratio of 2.60 and a beta of 1.36. The company has a quick ratio of 5.72, a current ratio of 6.07 and a debt-to-equity ratio of 1.05. Amgen, Inc. has a fifty-two week low of $150.38 and a fifty-two week high of $191.10.
Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Wednesday, October 25th. The medical research company reported $3.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.11 by $0.16. The firm had revenue of $5.77 billion during the quarter, compared to analysts’ expectations of $5.75 billion. Amgen had a return on equity of 29.90% and a net margin of 35.54%. The company’s quarterly revenue was down .7% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.02 EPS. equities research analysts anticipate that Amgen, Inc. will post 12.71 earnings per share for the current fiscal year.
Amgen declared that its Board of Directors has initiated 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 buy shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 8th. Shareholders of record on Thursday, February 15th will be issued a $1.32 dividend. The ex-dividend date of this dividend is Wednesday, February 14th. This is a boost from Amgen’s previous quarterly dividend of $1.15. This represents a $5.28 annualized dividend and a yield of 2.90%. Amgen’s payout ratio is currently 41.55%.
Several research analysts have recently commented on AMGN shares. Mizuho set a $192.00 target price on Amgen and gave the stock a “buy” rating in a research note on Friday, December 22nd. Zacks Investment Research downgraded Amgen from a “buy” rating to a “hold” rating in a research note 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 research note on Thursday, October 26th. Credit Suisse Group reiterated a “neutral” rating and set a $186.00 target price (up from $177.00) on shares of Amgen in a research note on Friday, September 29th. Finally, Oppenheimer reissued a “buy” rating and set a $205.00 price target on shares of Amgen in a report on Thursday, November 30th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and ten have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $190.15.
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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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