Pillar Pacific Capital Management LLC Has $9.48 Million Position in Amgen Inc. (AMGN)
Pillar Pacific Capital Management LLC increased its position in Amgen Inc. (NASDAQ:AMGN) by 0.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 55,043 shares of the medical research company’s stock after acquiring an additional 245 shares during the quarter. Amgen comprises 1.3% of Pillar Pacific Capital Management LLC’s investment portfolio, making the stock its 8th largest holding. Pillar Pacific Capital Management LLC’s holdings in Amgen were worth $9,480,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in AMGN. Skandinaviska Enskilda Banken AB publ bought a new position in Amgen in the 1st quarter worth about $110,402,000. Swiss National Bank boosted its stake in Amgen by 26.5% in the 1st quarter. Swiss National Bank now owns 2,636,008 shares of the medical research company’s stock worth $432,490,000 after purchasing an additional 551,600 shares during the period. Bank of Nova Scotia boosted its stake in Amgen by 414.4% in the 1st quarter. Bank of Nova Scotia now owns 601,862 shares of the medical research company’s stock worth $98,747,000 after purchasing an additional 484,868 shares during the period. AQR Capital Management LLC boosted its stake in Amgen by 37.4% in the 1st quarter. AQR Capital Management LLC now owns 1,443,129 shares of the medical research company’s stock worth $236,775,000 after purchasing an additional 392,538 shares during the period. Finally, Morningstar Investment Services LLC boosted its stake in Amgen by 283.8% in the 1st quarter. Morningstar Investment Services LLC now owns 497,503 shares of the medical research company’s stock worth $81,625,000 after purchasing an additional 367,894 shares during the period. 78.10% of the stock is owned by institutional investors.
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AMGN has been the subject of several analyst reports. Morgan Stanley raised their target price on Amgen from $183.00 to $184.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 13th. Oppenheimer Holdings, Inc. set a $189.00 target price on Amgen and gave the stock a “buy” rating in a research note on Tuesday, June 13th. UBS AG restated a “neutral” rating and issued a $175.00 target price (up previously from $174.00) on shares of Amgen in a research note on Tuesday, June 13th. Leerink Swann restated a “market perform” rating and issued a $161.00 target price on shares of Amgen in a research note on Thursday, June 22nd. Finally, Deutsche Bank AG initiated coverage on Amgen in a research note on Friday, June 23rd. They issued a “hold” rating and a $172.00 target price for the company. Ten investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $189.99.
Amgen Inc. (NASDAQ AMGN) opened at 185.82 on Friday. The stock has a market capitalization of $135.59 billion, a PE ratio of 16.93 and a beta of 1.36. Amgen Inc. has a 52 week low of $133.64 and a 52 week high of $191.10. The firm has a 50-day moving average price of $181.33 and a 200-day moving average price of $170.23. Amgen also was the target of some unusual options trading on Thursday. Traders purchased 9,350 put options on the stock. This is an increase of 239% compared to the typical volume of 2,758 put options.
Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, July 25th. The medical research company reported $3.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.11 by $0.16. The business had revenue of $5.81 billion during the quarter, compared to analyst estimates of $5.67 billion. Amgen had a return on equity of 29.85% and a net margin of 35.46%. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the company earned $2.84 EPS. Equities research analysts predict that Amgen Inc. will post $12.58 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Thursday, August 17th were paid a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 2.48%. The ex-dividend date was Tuesday, August 15th. Amgen’s payout ratio is 41.93%.
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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