Columbia Asset Management raised its holdings in Amgen Inc. (NASDAQ:AMGN) by 3.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 24,461 shares of the medical research company’s stock after buying an additional 761 shares during the quarter. Amgen accounts for about 1.4% of Columbia Asset Management’s investment portfolio, making the stock its 22nd largest position. Columbia Asset Management’s holdings in Amgen were worth $4,213,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in AMGN. Legal & General Group Plc grew its holdings in shares of Amgen by 2.5% during the 2nd quarter. Legal & General Group Plc now owns 3,721,359 shares of the medical research company’s stock worth $640,938,000 after purchasing an additional 90,615 shares in the last quarter. LSV Asset Management lifted its position in shares of Amgen by 4.8% during the 2nd quarter. LSV Asset Management now owns 3,460,689 shares of the medical research company’s stock worth $596,034,000 after buying an additional 158,775 shares during the period. State Farm Mutual Automobile Insurance Co. lifted its position in shares of Amgen by 2.1% during the 2nd quarter. State Farm Mutual Automobile Insurance Co. now owns 3,262,437 shares of the medical research company’s stock worth $561,889,000 after buying an additional 67,837 shares during the period. Schwab Charles Investment Management Inc. lifted its position in shares of Amgen by 2.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 2,962,595 shares of the medical research company’s stock worth $510,248,000 after buying an additional 67,815 shares during the period. Finally, Swiss National Bank lifted its position in shares of Amgen by 2.1% during the 2nd quarter. Swiss National Bank now owns 2,690,908 shares of the medical research company’s stock worth $463,455,000 after buying an additional 54,900 shares during the period. 78.32% of the stock is currently owned by hedge funds and other institutional investors.
In other Amgen news, Director Carbonnel Francois De sold 4,000 shares of the business’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $173.61, for a total value of $694,440.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Sean E. Harper sold 1,525 shares of the business’s stock in a transaction dated Monday, October 9th. The shares were 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. Over the last ninety days, insiders have sold 7,050 shares of company stock valued at $1,239,673. 0.19% of the stock is owned by insiders.
Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Wednesday, October 25th. The medical research company reported $3.27 EPS for the quarter, topping analysts’ consensus estimates of $3.11 by $0.16. Amgen had a return on equity of 29.90% and a net margin of 35.54%. The business had revenue of $5.77 billion during the quarter, compared to analysts’ expectations of $5.75 billion. During the same period in the previous year, the firm earned $3.02 earnings per share. The firm’s quarterly revenue was down .7% compared to the same quarter last year. sell-side analysts predict that Amgen Inc. will post 12.66 earnings per share for the current fiscal year.
Amgen declared that its board has initiated a share repurchase plan on Wednesday, October 25th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the medical research company to purchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
The business also recently disclosed 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. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.60%. Amgen’s dividend payout ratio (DPR) is presently 41.63%.
Several equities analysts recently commented on AMGN shares. Mizuho restated a “buy” rating and set a $183.00 target price (down previously from $195.00) on shares of Amgen in a research report on Monday, August 21st. Cann restated a “buy” rating on shares of Amgen in a research report on Monday, August 28th. Oppenheimer restated a “buy” rating and set a $203.00 target price on shares of Amgen in a research report on Thursday, September 7th. Royal Bank Of Canada started coverage on Amgen in a research report on Thursday, September 14th. They set a “sector perform” rating and a $192.00 target price for the company. Finally, BMO Capital Markets restated a “hold” rating and set a $199.00 target price on shares of Amgen in a research report on Monday, September 25th. Thirteen research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. Amgen has a consensus rating of “Buy” and a consensus price target of $190.22.
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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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