HM Payson & Co. Raises Position in Amgen Inc. (AMGN)
HM Payson & Co. boosted its position in shares of Amgen Inc. (NASDAQ:AMGN) by 24.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 175,493 shares of the medical research company’s stock after acquiring an additional 34,994 shares during the period. Amgen makes up approximately 1.4% of HM Payson & Co.’s holdings, making the stock its 20th largest holding. HM Payson & Co.’s holdings in Amgen were worth $30,225,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of AMGN. Advisor Partners LLC grew its stake in shares of Amgen by 15.3% in the 1st quarter. Advisor Partners LLC now owns 12,376 shares of the medical research company’s stock valued at $2,031,000 after purchasing an additional 1,646 shares during the period. Wright Investors Service Inc. grew its stake in shares of Amgen by 6.2% in the 1st quarter. Wright Investors Service Inc. now owns 19,650 shares of the medical research company’s stock valued at $3,224,000 after purchasing an additional 1,150 shares during the period. Delta Capital Management LLC grew its stake in shares of Amgen by 2.6% in the 1st quarter. Delta Capital Management LLC now owns 14,845 shares of the medical research company’s stock valued at $2,436,000 after purchasing an additional 375 shares during the period. Advisory Services Network LLC bought a new stake in shares of Amgen in the 1st quarter valued at approximately $2,474,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in shares of Amgen by 3.2% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 119,433 shares of the medical research company’s stock valued at $19,595,000 after purchasing an additional 3,651 shares during the period. Hedge funds and other institutional investors own 78.13% of the company’s stock.
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Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Wednesday, October 25th. The medical research company reported $3.27 EPS for the quarter, topping analysts’ consensus estimates of $3.11 by $0.16. The company had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.75 billion. Amgen had a net margin of 35.54% and a return on equity of 29.90%. Amgen’s revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.02 earnings per share.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 17th will be issued a dividend of $1.15 per share. The ex-dividend date is Thursday, November 16th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.67%. Amgen’s dividend payout ratio (DPR) is presently 41.63%.
Amgen declared that its Board of Directors has approved a share repurchase program on Wednesday, October 25th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the medical research company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.
In other news, EVP Sean E. Harper sold 1,525 shares of Amgen stock in a transaction 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 document filed with the SEC, which is accessible through the SEC website. 0.19% of the stock is currently owned by insiders.
Several equities research analysts have recently weighed in on AMGN shares. Mizuho reiterated a “buy” rating and issued a $195.00 price objective on shares of Amgen in a research note on Sunday, July 9th. ValuEngine upgraded Amgen from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Jefferies Group LLC reiterated a “buy” rating and issued a $195.00 price objective on shares of Amgen in a research note on Tuesday, July 11th. Cann reiterated a “buy” rating and issued a $203.00 price objective (up from $189.00) on shares of Amgen in a research note on Wednesday, July 26th. Finally, Argus upped their price objective on Amgen from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, July 27th. Thirteen research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. Amgen currently has an average rating of “Buy” and an average price target of $190.03.
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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