Navellier & Associates Inc Has $6.63 Million Stake in Amgen, Inc. (AMGN)
Navellier & Associates Inc reduced its position in Amgen, Inc. (NASDAQ:AMGN) by 6.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 38,500 shares of the medical research company’s stock after selling 2,500 shares during the period. Amgen comprises approximately 1.0% of Navellier & Associates Inc’s holdings, making the stock its 22nd largest position. Navellier & Associates Inc’s holdings in Amgen were worth $6,631,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in AMGN. Janus Henderson Group PLC boosted its holdings in shares of Amgen by 3,664.7% during the second quarter. Janus Henderson Group PLC now owns 3,699,351 shares of the medical research company’s stock worth $637,139,000 after purchasing an additional 3,601,087 shares during the period. FMR LLC boosted its holdings in shares of Amgen by 4.8% during the second quarter. FMR LLC now owns 56,999,572 shares of the medical research company’s stock worth $9,817,037,000 after purchasing an additional 2,587,041 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Amgen by 40.9% during the second quarter. Renaissance Technologies LLC now owns 3,400,145 shares of the medical research company’s stock worth $585,607,000 after purchasing an additional 986,700 shares during the period. BlackRock Inc. boosted its holdings in shares of Amgen by 1.9% during the second quarter. BlackRock Inc. now owns 49,451,203 shares of the medical research company’s stock worth $8,516,980,000 after purchasing an additional 909,689 shares during the period. Finally, Nordea Investment Management AB boosted its holdings in shares of Amgen by 12.9% during the second quarter. Nordea Investment Management AB now owns 7,040,599 shares of the medical research company’s stock worth $1,212,602,000 after purchasing an additional 806,119 shares during the period. 78.62% of the stock is currently owned by institutional investors and hedge funds.
Shares of Amgen, Inc. (NASDAQ AMGN) opened at $177.04 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 6.07 and a quick ratio of 5.72. The stock has a market cap of $130,070.00, a P/E ratio of 14.10, a price-to-earnings-growth ratio of 2.57 and a beta of 1.36. Amgen, Inc. has a one year low of $145.12 and a one year high of $191.10.
Amgen (NASDAQ:AMGN) last posted its earnings results on Wednesday, October 25th. The medical research company reported $3.27 earnings per share (EPS) for the quarter, beating the Zacks’ 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 net margin of 35.54% and a return on equity of 29.90%. The company’s revenue was down .7% compared to the same quarter last year. During the same period in the previous year, the company earned $3.02 earnings per share. equities research analysts predict that Amgen, Inc. will post 12.66 EPS for the current fiscal year.
Amgen announced that its Board of Directors has authorized a share buyback program on Wednesday, October 25th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the medical research company to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
The firm also recently announced 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. 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 dividend on an annualized basis and a yield of 2.98%. Amgen’s payout ratio is 41.55%.
In other news, Director Carbonnel Francois De sold 4,000 shares of the business’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 available through this hyperlink. Also, EVP Sean E. Harper sold 1,525 shares of the business’s stock in a transaction on Monday, October 9th. The stock was sold at an average price of $185.95, for a total transaction of $283,573.75. The disclosure for this sale can be found here. Insiders sold 8,575 shares of company stock valued at $1,509,339 over the last 90 days. 0.19% of the stock is owned by corporate insiders.
Several analysts recently commented on AMGN shares. Mizuho restated a “buy” rating and set a $198.00 price target (up from $183.00) on shares of Amgen in a report on Thursday, September 28th. BMO Capital Markets restated a “hold” rating and set a $198.00 price target on shares of Amgen in a report on Friday, October 20th. Jefferies Group restated a “buy” rating and set a $200.00 price target on shares of Amgen in a report on Monday, September 25th. Royal Bank of Canada started coverage on shares of Amgen in a report on Thursday, September 14th. They set a “sector perform” rating and a $192.00 price target for the company. Finally, Barclays raised their price target on shares of Amgen from $180.00 to $190.00 and gave the stock an “equal weight” rating in a report on Friday, October 13th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $190.22.
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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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