Kimelman & Baird LLC Continues to Hold Stake in Amgen, Inc. (AMGN)
Kimelman & Baird LLC held its position in shares of Amgen, Inc. (NASDAQ:AMGN) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,600 shares of the medical research company’s stock at the end of the 2nd quarter. Kimelman & Baird LLC’s holdings in Amgen were worth $620,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also bought and sold shares of AMGN. RNC Capital Management LLC raised its position in shares of Amgen by 10.0% in the first quarter. RNC Capital Management LLC now owns 129,993 shares of the medical research company’s stock valued at $21,328,000 after purchasing an additional 11,822 shares during the period. Meadow Creek Investment Management LLC raised its position in shares of Amgen by 22.4% in the first quarter. Meadow Creek Investment Management LLC now owns 25,200 shares of the medical research company’s stock valued at $4,135,000 after purchasing an additional 4,608 shares during the period. Affinity Investment Advisors LLC grew its stake in Amgen by 1.0% during the first quarter. Affinity Investment Advisors LLC now owns 86,970 shares of the medical research company’s stock valued at $14,269,000 after acquiring an additional 884 shares in the last quarter. Main Street Research LLC grew its stake in Amgen by 1.0% during the first quarter. Main Street Research LLC now owns 68,468 shares of the medical research company’s stock valued at $11,233,000 after acquiring an additional 692 shares in the last quarter. Finally, Morningstar Investment Services LLC grew its stake in Amgen by 283.8% during the first quarter. Morningstar Investment Services LLC now owns 497,503 shares of the medical research company’s stock valued at $81,625,000 after acquiring an additional 367,894 shares in the last quarter. 78.62% of the stock is currently owned by institutional investors.
In other news, Director Carbonnel Francois De sold 4,000 shares of the company’s stock in a transaction 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Sean E. Harper sold 1,525 shares of the company’s stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $176.83, for a total transaction of $269,665.75. Following the completion of the sale, the executive vice president now directly owns 56,106 shares of the company’s stock, valued at approximately $9,921,223.98. The disclosure for this sale can be found here. In the last three months, insiders sold 8,575 shares of company stock valued at $1,509,339. Corporate insiders own 0.19% of the company’s stock.
Several brokerages recently commented on AMGN. Credit Suisse Group reaffirmed a “neutral” rating and set a $186.00 price objective (up previously from $177.00) on shares of Amgen in a research note on Friday, September 29th. Royal Bank of Canada began coverage on shares of Amgen in a research note on Thursday, September 14th. They set a “sector perform” rating and a $192.00 price objective for the company. Mizuho reaffirmed a “buy” rating and set a $183.00 price objective (down previously from $195.00) on shares of Amgen in a research note on Monday, August 21st. Morgan Stanley reduced their price objective on shares of Amgen from $196.00 to $193.00 and set an “overweight” rating for the company in a research note on Thursday, October 26th. Finally, Zacks Investment Research raised shares of Amgen from a “hold” rating to a “buy” rating and set a $199.00 price objective for the company in a research note on Friday, October 27th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $190.22.
Amgen, Inc. (NASDAQ:AMGN) opened at $174.92 on Friday. 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 12 month low of $145.12 and a 12 month high of $191.10. The company has a market cap of $128,760.00, a P/E ratio of 14.01, a price-to-earnings-growth ratio of 2.55 and a beta of 1.36.
Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Wednesday, October 25th. The medical research company reported $3.27 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 business had revenue of $5.77 billion during the quarter, compared to analysts’ expectations of $5.75 billion. During the same quarter in the previous year, the company earned $3.02 EPS. The business’s quarterly revenue was down .7% compared to the same quarter last year. sell-side analysts expect that Amgen, Inc. will post 12.66 earnings per share for the current year.
Amgen announced that its Board of Directors has initiated a share buyback plan on Wednesday, October 25th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the medical research company to reacquire shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 8th. Shareholders of record on Thursday, February 15th will be paid a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date of this dividend is Wednesday, February 14th. This is a boost from Amgen’s previous quarterly dividend of $1.15. Amgen’s payout ratio is currently 41.55%.
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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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