Palisades Hudson Asset Management L.P. maintained its position in Amgen Inc. (NASDAQ:AMGN) during the first quarter, Holdings Channel reports. The fund owned 1,945 shares of the medical research company’s stock at the end of the first quarter. Palisades Hudson Asset Management L.P.’s holdings in Amgen were worth $319,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AMGN. Camelot Portfolios LLC acquired a new position in shares of Amgen during the first quarter valued at $1,429,000. Cadence Bank NA increased its position in shares of Amgen by 6.2% in the first quarter. Cadence Bank NA now owns 3,376 shares of the medical research company’s stock valued at $554,000 after buying an additional 197 shares during the period. Stillwater Capital Advisors LLC acquired a new position in shares of Amgen during the first quarter valued at $202,000. Kornitzer Capital Management Inc. KS increased its position in shares of Amgen by 70.6% in the first quarter. Kornitzer Capital Management Inc. KS now owns 38,865 shares of the medical research company’s stock valued at $6,377,000 after buying an additional 16,080 shares during the period. Finally, Adams Diversified Equity Fund Inc. increased its position in shares of Amgen by 21.5% in the first quarter. Adams Diversified Equity Fund Inc. now owns 127,000 shares of the medical research company’s stock valued at $20,837,000 after buying an additional 22,500 shares during the period. 79.12% of the stock is owned by hedge funds and other institutional investors.
Amgen Inc. (NASDAQ:AMGN) traded down 1.133% during trading on Thursday, reaching $169.449. The company had a trading volume of 500,946 shares. The firm has a 50-day moving average of $174.37 and a 200-day moving average of $167.96. The stock has a market capitalization of $123.64 billion, a price-to-earnings ratio of 15.434 and a beta of 1.35. Amgen Inc. has a 1-year low of $133.64 and a 1-year high of $184.21.
Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, July 25th. The medical research company reported $3.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.11 by $0.16. Amgen had a return on equity of 29.85% and a net margin of 35.46%. The firm had revenue of $5.81 billion for the quarter, compared to analyst estimates of $5.67 billion. During the same quarter last year, the company posted $2.84 earnings per share. The business’s revenue was up 2.1% on a year-over-year basis. On average, analysts anticipate that Amgen Inc. will post $12.57 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Thursday, August 17th will be issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date of this dividend is Tuesday, August 15th. Amgen’s dividend payout ratio is currently 41.93%.
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AMGN has been the topic of several research analyst reports. Deutsche Bank AG initiated coverage on Amgen in a research note on Friday, June 23rd. They set a “hold” rating and a $172.00 target price on the stock. ValuEngine downgraded Amgen from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Oppenheimer Holdings, Inc. set a $189.00 target price on Amgen and gave the stock a “buy” rating in a research note on Monday, June 5th. William Blair restated a “market perform” rating on shares of Amgen in a research note on Monday, June 26th. Finally, Robert W. Baird restated a “neutral” rating and set a $165.00 target price on shares of Amgen in a research note on Friday, April 28th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $186.64.
In other Amgen news, SVP Cynthia M. Patton sold 2,922 shares of Amgen stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $154.40, for a total value of $451,156.80. Following the sale, the senior vice president now owns 24,214 shares of the company’s stock, valued at approximately $3,738,641.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.20% of the company’s stock.
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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