Northeast Investment Management Lowers Position in Amgen Inc. (AMGN)
Northeast Investment Management trimmed its position in shares of Amgen Inc. (NASDAQ:AMGN) by 2.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,735 shares of the medical research company’s stock after selling 72 shares during the period. Northeast Investment Management’s holdings in Amgen were worth $471,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of AMGN. PGGM Investments boosted its holdings in Amgen by 2.3% during the second quarter. PGGM Investments now owns 670,936 shares of the medical research company’s stock valued at $115,555,000 after purchasing an additional 15,059 shares in the last quarter. Shelton Capital Management boosted its holdings in Amgen by 82.7% during the first quarter. Shelton Capital Management now owns 108,997 shares of the medical research company’s stock valued at $17,883,000 after purchasing an additional 49,354 shares in the last quarter. Greylin Investment Mangement Inc. boosted its holdings in Amgen by 466.9% during the second quarter. Greylin Investment Mangement Inc. now owns 14,030 shares of the medical research company’s stock valued at $2,416,000 after purchasing an additional 11,555 shares in the last quarter. Kelman Lazarov Inc. boosted its holdings in Amgen by 8.2% during the second quarter. Kelman Lazarov Inc. now owns 1,580 shares of the medical research company’s stock valued at $272,000 after purchasing an additional 120 shares in the last quarter. Finally, Osborne Partners Capital Management LLC boosted its holdings in Amgen by 0.5% during the second quarter. Osborne Partners Capital Management LLC now owns 17,023 shares of the medical research company’s stock valued at $2,932,000 after purchasing an additional 91 shares in the last quarter. Hedge funds and other institutional investors own 78.13% of the company’s stock.
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Amgen (NASDAQ:AMGN) last issued its earnings results on Wednesday, October 25th. The medical research company reported $3.27 earnings per share for the quarter, beating analysts’ consensus estimates of $3.11 by $0.16. The firm 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%. The company’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter last year, the business posted $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.
A number of equities research analysts have weighed in on AMGN shares. Mizuho reaffirmed a “buy” rating and set a $195.00 price objective on shares of Amgen in a report on Sunday, July 9th. ValuEngine raised Amgen from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Jefferies Group LLC reaffirmed a “buy” rating and set a $195.00 price objective on shares of Amgen in a report on Tuesday, July 11th. Cann reaffirmed a “buy” rating and set a $203.00 price objective (up from $189.00) on shares of Amgen in a report on Wednesday, July 26th. Finally, Argus lifted their price objective on Amgen from $180.00 to $195.00 and gave the company a “buy” rating in a report on Thursday, July 27th. Thirteen research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $190.03.
Amgen Company Profile
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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