Crawford Investment Counsel Inc. reduced its position in Amgen Inc. (NASDAQ:AMGN) by 7.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,955 shares of the medical research company’s stock after selling 570 shares during the quarter. Crawford Investment Counsel Inc.’s holdings in Amgen were worth $1,198,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in AMGN. TrimTabs Asset Management LLC boosted its position 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 acquiring an additional 288 shares during the period. American Beacon Advisors Inc. bought a new position in shares of Amgen in the first quarter valued at approximately $106,000. Nelson Roberts Investment Advisors LLC bought a new position in shares of Amgen in the first quarter valued at approximately $121,000. Grove Bank & Trust boosted its position in shares of Amgen by 87.4% in the second quarter. Grove Bank & Trust now owns 731 shares of the medical research company’s stock valued at $126,000 after acquiring an additional 341 shares during the period. Finally, Enterprise Financial Services Corp boosted its position in shares of Amgen by 18.0% in the second quarter. Enterprise Financial Services Corp now owns 748 shares of the medical research company’s stock valued at $129,000 after acquiring an additional 114 shares during the period. Institutional investors own 78.20% of the company’s stock.
A number of equities research analysts recently weighed in on AMGN shares. BMO Capital Markets reaffirmed a “market perform” rating and issued a $198.00 target price 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 target price on shares of Amgen in a research note on Thursday, September 7th. Mizuho reaffirmed a “buy” rating and issued a $198.00 target price (up from $183.00) on shares of Amgen in a research note on Thursday, September 28th. Finally, Zacks Investment Research downgraded shares of Amgen from a “buy” rating to a “hold” rating in a research note on Monday, October 16th. Thirteen 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 stock. Amgen presently has an average rating of “Buy” and an average price target of $190.03.
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In other news, Director Carbonnel Francois De sold 4,000 shares of the business’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $173.61, for a total transaction of $694,440.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Sean E. Harper sold 1,525 shares of the business’s 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 disclosure for this sale can be found here. In the last quarter, insiders sold 7,050 shares of company stock worth $1,239,673. 0.19% of the stock is currently owned by company insiders.
Shares of Amgen Inc. (NASDAQ AMGN) opened at $170.77 on Friday. The firm has a market cap of $122,954.73, a price-to-earnings ratio of 13.46, a P/E/G ratio of 2.45 and a beta of 1.37. Amgen Inc. has a fifty-two week low of $138.83 and a fifty-two week high of $191.10. 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 (NASDAQ:AMGN) last released its quarterly earnings results on Wednesday, October 25th. The medical research company reported $3.27 earnings per share for the quarter, beating the consensus estimate of $3.11 by $0.16. The business 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 firm’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.02 earnings per share. equities analysts expect that Amgen Inc. will post 12.66 EPS for the current year.
Amgen announced that its Board of Directors has approved a share buyback plan 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 plans are often an indication that the company’s management believes its stock is undervalued.
The business 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 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend is Thursday, November 16th. Amgen’s dividend payout ratio (DPR) is currently 41.63%.
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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