Key Square Capital Management LLC Purchases New Position in Amgen Inc. (AMGN)

Key Square Capital Management LLC purchased a new position in shares of Amgen Inc. (NASDAQ:AMGN) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 252,800 shares of the medical research company’s stock, valued at approximately $43,540,000. Amgen comprises 6.5% of Key Square Capital Management LLC’s holdings, making the stock its 6th biggest holding.

Other large investors have also recently added to or reduced their stakes in the company. PGGM Investments grew its stake in Amgen by 2.3% during the 2nd quarter. PGGM Investments now owns 670,936 shares of the medical research company’s stock worth $115,555,000 after buying an additional 15,059 shares during the last quarter. Shelton Capital Management grew its stake in Amgen by 82.7% during the 1st quarter. Shelton Capital Management now owns 108,997 shares of the medical research company’s stock worth $17,883,000 after buying an additional 49,354 shares during the last quarter. Greylin Investment Mangement Inc. grew its stake in Amgen by 466.9% during the 2nd quarter. Greylin Investment Mangement Inc. now owns 14,030 shares of the medical research company’s stock worth $2,416,000 after buying an additional 11,555 shares during the last quarter. Kelman Lazarov Inc. grew its stake in Amgen by 8.2% during the 2nd quarter. Kelman Lazarov Inc. now owns 1,580 shares of the medical research company’s stock worth $272,000 after buying an additional 120 shares during the last quarter. Finally, Osborne Partners Capital Management LLC grew its stake in Amgen by 0.5% during the 2nd quarter. Osborne Partners Capital Management LLC now owns 17,023 shares of the medical research company’s stock worth $2,932,000 after buying an additional 91 shares during the last quarter. Hedge funds and other institutional investors own 78.15% of the company’s stock.

Shares of Amgen Inc. (NASDAQ:AMGN) opened at $169.96 on Thursday. The company has a quick ratio of 5.72, a current ratio of 6.07 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $123,288.65, a P/E ratio of 13.50, a PEG ratio of 2.46 and a beta of 1.37. Amgen Inc. has a 1-year low of $138.83 and a 1-year high of $191.10.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Wednesday, October 25th. The medical research company reported $3.27 EPS for the quarter, beating the consensus estimate of $3.11 by $0.16. The business had revenue of $5.77 billion during 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 company’s quarterly revenue was down .7% compared to the same quarter last year. During the same period last year, the firm earned $3.02 EPS. sell-side analysts anticipate that Amgen Inc. will post 12.66 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 17th will be issued a $1.15 dividend. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $4.60 annualized dividend and a dividend yield of 2.71%. Amgen’s dividend payout ratio is currently 41.63%.

Amgen declared that its Board of Directors has initiated a stock repurchase program on Wednesday, October 25th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the medical research company to purchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

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Several research analysts have weighed in on the company. BMO Capital Markets reiterated a “market perform” rating and issued a $198.00 target price on shares of Amgen in a research note on Thursday, October 26th. Cann reiterated a “buy” rating on shares of Amgen in a research note on Monday, August 28th. Oppenheimer Holdings, Inc. reiterated a “buy” rating and issued a $203.00 target price on shares of Amgen in a research note on Thursday, September 7th. Mizuho reiterated 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 Amgen from a “buy” rating to a “hold” rating in a research note on Monday, October 16th. Thirteen equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Amgen has a consensus rating of “Buy” and a consensus price target of $190.03.

In related news, Director Carbonnel Francois De sold 4,000 shares of Amgen stock in a transaction on Wednesday, November 8th. The stock was 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 Securities & Exchange Commission, which can be accessed through this link. Also, EVP Sean E. Harper sold 1,525 shares of Amgen stock in a transaction on Monday, October 9th. The stock was sold at an average price of $185.95, for a total value of $283,573.75. The disclosure for this sale can be found here. Insiders sold a total of 7,050 shares of company stock valued at $1,239,673 over the last three months. Insiders own 0.19% of the company’s stock.

Amgen Company Profile

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).

Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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