CIBC World Markets Inc. lifted its stake in Amgen, Inc. (NASDAQ:AMGN) by 1.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 70,657 shares of the medical research company’s stock after buying an additional 1,236 shares during the period. CIBC World Markets Inc.’s holdings in Amgen were worth $12,287,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Baker Ellis Asset Management LLC purchased a new position in shares of Amgen in the 3rd quarter worth approximately $108,000. Phocas Financial Corp. purchased a new position in shares of Amgen in the 2nd quarter worth approximately $110,000. Jackson Grant Investment Advisers Inc. boosted its holdings in shares of Amgen by 0.8% in the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 641 shares of the medical research company’s stock worth $110,000 after purchasing an additional 5 shares during the period. Omnia Family Wealth LLC boosted its holdings in shares of Amgen by 25.3% in the 2nd quarter. Omnia Family Wealth LLC now owns 729 shares of the medical research company’s stock worth $125,000 after purchasing an additional 147 shares during the period. Finally, Horan Capital Advisors LLC. purchased a new position in shares of Amgen in the 3rd quarter worth approximately $150,000. Hedge funds and other institutional investors own 79.61% of the company’s stock.
A number of brokerages have recently commented on AMGN. Mizuho lifted their target price on Amgen from $192.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, February 12th. Leerink Swann restated a “market perform” rating on shares of Amgen in a report on Friday, February 2nd. Morgan Stanley dropped their price objective on Amgen from $204.00 to $196.00 and set an “overweight” rating for the company in a report on Friday, February 2nd. BMO Capital Markets boosted their price objective on Amgen from $192.00 to $202.00 and gave the company a “market perform” rating in a report on Friday, February 2nd. Finally, JPMorgan Chase & Co. restated a “hold” rating and set a $191.00 price objective on shares of Amgen in a report on Sunday, February 4th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and eleven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $191.72.
Amgen (NASDAQ:AMGN) last issued its earnings results on Thursday, February 1st. The medical research company reported $2.89 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.03 by ($0.14). Amgen had a return on equity of 30.87% and a net margin of 8.66%. The firm had revenue of $5.80 billion during the quarter, compared to analysts’ expectations of $5.84 billion. During the same quarter in the prior year, the company posted $2.89 earnings per share. Amgen’s quarterly revenue was down 2.7% compared to the same quarter last year. sell-side analysts predict that Amgen, Inc. will post 13.22 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 8th. Shareholders of record on Thursday, May 17th will be issued a $1.32 dividend. This represents a $5.28 annualized dividend and a dividend yield of 2.78%. The ex-dividend date is Wednesday, May 16th. Amgen’s dividend payout ratio is 48.00%.
Amgen declared that its board has approved a stock buyback program on Thursday, February 1st that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the medical research company to repurchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.
In other news, EVP Sean E. Harper sold 1,525 shares of the business’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $174.18, for a total value of $265,624.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.19% of the company’s stock.
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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