Tradition Capital Management LLC Sells 770 Shares of Amgen Inc. (AMGN)
Tradition Capital Management LLC decreased its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 8.0% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 8,880 shares of the medical research company’s stock after selling 770 shares during the period. Tradition Capital Management LLC’s holdings in Amgen were worth $1,529,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of AMGN. Busey Trust CO lifted its holdings in Amgen by 0.9% during the 1st quarter. Busey Trust CO now owns 52,856 shares of the medical research company’s stock worth $8,672,000 after purchasing an additional 488 shares in the last quarter. Rainier Group Investment Advisory LLC lifted its holdings in Amgen by 4.8% during the 1st quarter. Rainier Group Investment Advisory LLC now owns 3,398 shares of the medical research company’s stock worth $558,000 after purchasing an additional 157 shares in the last quarter. Nottingham Advisors Inc. purchased a new stake in Amgen during the 1st quarter worth about $217,000. MUFG Americas Holdings Corp lifted its holdings in Amgen by 8.2% during the 1st quarter. MUFG Americas Holdings Corp now owns 91,352 shares of the medical research company’s stock worth $14,988,000 after purchasing an additional 6,917 shares in the last quarter. Finally, Forward Management LLC lifted its holdings in Amgen by 26.3% during the 1st quarter. Forward Management LLC now owns 5,020 shares of the medical research company’s stock worth $824,000 after purchasing an additional 1,045 shares in the last quarter. 78.15% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Carbonnel Francois De sold 4,000 shares of the stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $173.61, for a total transaction of $694,440.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Sean E. Harper sold 1,525 shares of the stock in a transaction dated Monday, October 9th. The shares were sold at an average price of $185.95, for a total value of $283,573.75. The disclosure for this sale can be found here. Insiders have sold a total of 7,050 shares of company stock worth $1,239,673 over the last quarter. Corporate insiders own 0.19% of the company’s stock.
Amgen Inc. (NASDAQ:AMGN) opened at $169.96 on Friday. The company has a current ratio of 6.07, a quick ratio of 5.72 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $123,375.77, a PE ratio of 13.51, a PEG ratio of 2.46 and a beta of 1.37. Amgen Inc. has a 1 year low of $138.83 and a 1 year high of $191.10.
Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Wednesday, October 25th. The medical research company reported $3.27 EPS for the quarter, beating the consensus estimate 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 return on equity of 29.90% and a net margin of 35.54%. The company’s revenue was down .7% on a year-over-year basis. During the same period in the prior year, the company earned $3.02 EPS. sell-side analysts anticipate that Amgen Inc. will post 12.66 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 17th will be given a dividend of $1.15 per share. The ex-dividend date is Thursday, November 16th. This represents a $4.60 annualized dividend and a dividend yield of 2.71%. Amgen’s dividend payout ratio (DPR) is presently 41.63%.
Amgen declared that its Board of Directors has approved a stock repurchase plan on Wednesday, October 25th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the medical research company to repurchase shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its shares are undervalued.
AMGN has been the topic of a number of research analyst reports. Argus upped their target price on Amgen from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Thursday, July 27th. BidaskClub lowered Amgen from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Mizuho restated a “buy” rating and issued a $183.00 target price (down from $195.00) on shares of Amgen in a research note on Monday, August 21st. Cann restated a “buy” rating on shares of Amgen in a research note on Monday, August 28th. Finally, Oppenheimer Holdings, Inc. restated a “buy” rating and issued a $203.00 target price on shares of Amgen in a research note on Thursday, September 7th. Thirteen research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. Amgen currently has a consensus rating of “Buy” and an average price target of $190.03.
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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