Nippon Life Insurance Co. increased its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 17.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,704 shares of the medical research company’s stock after purchasing an additional 5,040 shares during the quarter. Nippon Life Insurance Co.’s holdings in Amgen were worth $5,977,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in AMGN. TrimTabs Asset Management LLC grew its stake in shares of Amgen by 88.9% during 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 last quarter. Alpha Omega Wealth Management LLC grew its stake in shares of Amgen by 19.0% during the first quarter. Alpha Omega Wealth Management LLC now owns 625 shares of the medical research company’s stock valued at $103,000 after purchasing an additional 100 shares during the last quarter. Jackson Grant Investment Advisers Inc. grew its stake in shares of Amgen by 0.6% during 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 last quarter. American Beacon Advisors Inc. bought a new stake in shares of Amgen during the first quarter valued at approximately $106,000. Finally, Nelson Roberts Investment Advisors LLC bought a new stake in shares of Amgen during the first quarter valued at approximately $121,000. 78.13% of the stock is currently owned by institutional investors and hedge funds.
In related news, EVP Sean E. Harper sold 1,525 shares of the 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 can be accessed through this link. 0.19% of the stock is owned by corporate insiders.
Amgen (NASDAQ:AMGN) last issued 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 business 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%. Amgen’s revenue was down .7% on a year-over-year basis. During the same period in the prior year, the firm earned $3.02 earnings per share.
Amgen declared that its board has authorized a stock buyback 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 management believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 17th will be paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 2.63%. The ex-dividend date of this dividend is Thursday, November 16th. Amgen’s dividend payout ratio is presently 41.63%.
AMGN has been the topic of several research analyst reports. BMO Capital Markets reissued a “market perform” rating and set a $198.00 price target on shares of Amgen in a research note on Thursday, October 26th. Cann reaffirmed a “buy” rating on shares of Amgen in a research note on Monday, August 28th. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and issued a $203.00 price objective on shares of Amgen in a research note on Thursday, September 7th. Mizuho reaffirmed a “buy” rating and issued a $198.00 price objective (up from $183.00) on shares of Amgen in a research note on Thursday, September 28th. Finally, Zacks Investment Research cut shares of Amgen from a “buy” rating to a “hold” rating in a research note on Monday, October 16th. Thirteen research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $190.03.
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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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