Manning & Napier Advisors LLC Trims Stake in Amgen, Inc. (AMGN)
Manning & Napier Advisors LLC reduced its position in Amgen, Inc. (NASDAQ:AMGN) by 0.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 114,745 shares of the medical research company’s stock after selling 425 shares during the period. Manning & Napier Advisors LLC’s holdings in Amgen were worth $21,392,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of AMGN. Baker Ellis Asset Management LLC purchased a new stake in Amgen during the 3rd quarter valued at approximately $108,000. Jackson Grant Investment Advisers Inc. raised its stake in Amgen by 0.8% during the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 641 shares of the medical research company’s stock valued at $110,000 after acquiring an additional 5 shares during the last quarter. Phocas Financial Corp. purchased a new stake in Amgen during the 2nd quarter valued at approximately $110,000. Omnia Family Wealth LLC raised its stake in Amgen by 25.3% during the 2nd quarter. Omnia Family Wealth LLC now owns 729 shares of the medical research company’s stock valued at $125,000 after acquiring an additional 147 shares during the last quarter. Finally, Grove Bank & Trust raised its stake in Amgen by 87.4% during the 2nd quarter. Grove Bank & Trust now owns 731 shares of the medical research company’s stock valued at $126,000 after acquiring an additional 341 shares during the last quarter. 78.48% of the stock is owned by institutional investors and hedge funds.
Several analysts have commented on the company. Credit Suisse Group reaffirmed a “neutral” rating and set a $186.00 price objective (up from $177.00) on shares of Amgen in a research note on Friday, September 29th. BidaskClub raised Amgen from a “sell” rating to a “hold” rating in a research note on Thursday. Royal Bank of Canada reduced their price objective 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. Oppenheimer set a $205.00 price objective on Amgen and gave the company a “buy” rating in a research note on Friday, January 5th. Finally, Morgan Stanley reduced their price objective on Amgen from $196.00 to $193.00 and set an “overweight” rating for the company in a research note on Thursday, October 26th. Fifteen equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Amgen currently has a consensus rating of “Hold” and an average price target of $190.15.
Amgen (NASDAQ:AMGN) last issued its earnings results on Wednesday, October 25th. The medical research company reported $3.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.11 by $0.16. The business had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.75 billion. Amgen had a return on equity of 29.90% and a net margin of 35.54%. The company’s revenue for the quarter was down .7% on a year-over-year basis. During the same period in the prior year, the business posted $3.02 EPS. research analysts anticipate that Amgen, Inc. will post 12.69 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 8th. Investors 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 represents a $5.28 dividend on an annualized basis and a dividend yield of 2.79%. This is a boost from Amgen’s previous quarterly dividend of $1.15. Amgen’s dividend payout ratio is currently 41.63%.
Amgen announced that its board has authorized a share repurchase program on Wednesday, October 25th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the medical research company to buy shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.
In related news, Director Carbonnel Francois De sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $173.61, for a total value of $694,440.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Sean E. Harper sold 1,525 shares of the company’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $185.62, for a total value of $283,070.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,575 shares of company stock worth $1,508,836. Insiders own 0.19% of the company’s stock.
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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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