Davidson & Garrard Inc. continued to hold its position in Amgen Inc. (NASDAQ:AMGN) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,055 shares of the medical research company’s stock at the close of the 2nd quarter. Davidson & Garrard Inc.’s holdings in Amgen were worth $871,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. TrimTabs Asset Management LLC grew its holdings in Amgen by 88.9% during the 1st quarter. TrimTabs Asset Management LLC now owns 612 shares of the medical research company’s stock worth $100,000 after acquiring an additional 288 shares in the last quarter. American Beacon Advisors Inc. acquired a new position in Amgen during the 1st quarter worth $106,000. Nelson Roberts Investment Advisors LLC acquired a new position in Amgen during the 1st quarter worth $121,000. Grove Bank & Trust grew its holdings in Amgen by 87.4% during the 2nd quarter. Grove Bank & Trust now owns 731 shares of the medical research company’s stock worth $126,000 after acquiring an additional 341 shares in the last quarter. Finally, Enterprise Financial Services Corp grew its holdings in Amgen by 18.0% during the 2nd quarter. Enterprise Financial Services Corp now owns 748 shares of the medical research company’s stock worth $129,000 after acquiring an additional 114 shares in the last quarter. 78.20% of the stock is owned by institutional investors and hedge funds.
Amgen Inc. (AMGN) opened at $170.13 on Wednesday. The stock has a market cap of $124,493.66, a P/E ratio of 13.63, a PEG ratio of 2.48 and a beta of 1.37. The company has a quick ratio of 5.72, a current ratio of 6.07 and a debt-to-equity ratio of 1.05. Amgen Inc. has a 52 week low of $138.83 and a 52 week high of $191.10.
Amgen (NASDAQ:AMGN) last announced its quarterly earnings data 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 net margin of 35.54% and a return on equity of 29.90%. The business’s revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.02 EPS. research analysts expect that Amgen Inc. will post 12.66 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 17th will be paid a $1.15 dividend. The ex-dividend date is Thursday, November 16th. This represents a $4.60 annualized dividend and a dividend yield of 2.70%. Amgen’s dividend payout ratio is currently 41.63%.
Amgen declared that its board has authorized a stock repurchase program on Wednesday, October 25th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the medical research company to purchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.
In other news, EVP Sean E. Harper sold 1,525 shares of Amgen stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $171.58, for a total value of $261,659.50. Following the transaction, the executive vice president now owns 57,631 shares of the company’s stock, valued at approximately $9,888,326.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Carbonnel Francois De sold 4,000 shares of Amgen stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $173.61, for a total transaction of $694,440.00. The disclosure for this sale can be found here. Insiders sold a total of 7,050 shares of company stock worth $1,239,673 in the last ninety days. Corporate insiders own 0.19% of the company’s stock.
AMGN has been the subject of several recent analyst reports. BMO Capital Markets lowered shares of Amgen from an “outperform” rating to a “market perform” rating and set a $199.00 price objective for the company. in a report on Friday, July 21st. They noted that the move was a valuation call. Cowen and Company restated an “outperform” rating and issued a $209.00 price target on shares of Amgen in a research report on Saturday, July 22nd. Cann restated a “buy” rating and issued a $203.00 price target (up from $189.00) on shares of Amgen in a research report on Wednesday, July 26th. Deutsche Bank AG restated a “hold” rating and issued a $174.00 price target (up from $172.00) on shares of Amgen in a research report on Wednesday, July 26th. Finally, Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $203.00 price target (up from $189.00) on shares of Amgen in a research report on Wednesday, July 26th. Thirteen analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus 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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