Willingdon Wealth Management Has $1.17 Million Position in Amgen Inc. (AMGN)
Willingdon Wealth Management raised its holdings in Amgen Inc. (NASDAQ:AMGN) by 3.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,779 shares of the medical research company’s stock after buying an additional 210 shares during the quarter. Willingdon Wealth Management’s holdings in Amgen were worth $1,168,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in the business. TrimTabs Asset Management LLC increased its holdings in shares of Amgen by 88.9% in the first quarter. TrimTabs Asset Management LLC now owns 612 shares of the medical research company’s stock valued at $100,000 after purchasing an additional 288 shares during the period. Jackson Grant Investment Advisers Inc. increased its holdings in shares of Amgen by 0.6% in the first quarter. Jackson Grant Investment Advisers Inc. now owns 636 shares of the medical research company’s stock valued at $104,000 after purchasing an additional 4 shares during the period. American Beacon Advisors Inc. acquired a new position in shares of Amgen in the first quarter valued at about $106,000. Nelson Roberts Investment Advisors LLC acquired a new position in shares of Amgen in the first quarter valued at about $121,000. Finally, Grove Bank & Trust grew its holdings in Amgen by 87.4% during the second quarter. Grove Bank & Trust now owns 731 shares of the medical research company’s stock worth $126,000 after acquiring an additional 341 shares during the period. Institutional investors own 78.54% of the company’s stock.
Several research firms recently commented on AMGN. Royal Bank of Canada began coverage on Amgen in a report on Thursday, September 14th. They set a “sector perform” rating and a $192.00 target price on the stock. Bank of America Corporation raised their target price on Amgen to $210.00 and gave the stock a “buy” rating in a report on Thursday, October 5th. Oppenheimer Holdings, Inc. reiterated a “buy” rating and set a $203.00 price target on shares of Amgen in a research report on Friday, October 6th. Morgan Stanley reiterated an “overweight” rating and set a $196.00 price target (up previously from $189.00) on shares of Amgen in a research report on Friday, October 6th. Finally, Mizuho reiterated a “buy” rating and set a $198.00 price target on shares of Amgen in a research report on Friday, October 6th. Thirteen investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $190.03.
In related news, EVP Sean E. Harper sold 1,525 shares of the company’s stock in a transaction that occurred on Monday, October 9th. The stock was sold at an average price of $185.95, for a total value of $283,573.75. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.
Amgen Inc. (AMGN) opened at $172.35 on Friday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 5.72 and a current ratio of 6.07. Amgen Inc. has a 52-week low of $138.83 and a 52-week high of $191.10. The stock has a market capitalization of $125,110.77, a P/E ratio of 13.70, a price-to-earnings-growth ratio of 2.50 and a beta of 1.37.
Amgen (NASDAQ:AMGN) last released its earnings results on Wednesday, October 25th. The medical research company reported $3.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.11 by $0.16. The company had revenue of $5.77 billion for the quarter, compared to analysts’ expectations of $5.75 billion. Amgen had a return on equity of 29.90% and a net margin of 35.54%. The firm’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.02 EPS. sell-side analysts forecast that Amgen Inc. will post 12.66 earnings per share for the current fiscal year.
Amgen announced that its board has initiated a share repurchase plan on Wednesday, October 25th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 17th will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date of this dividend is Thursday, November 16th. Amgen’s dividend payout ratio is currently 41.63%.
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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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