EP Wealth Advisors LLC lowered its position in Amgen (NASDAQ:AMGN) by 90.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,009 shares of the medical research company’s stock after selling 55,907 shares during the period. EP Wealth Advisors LLC’s holdings in Amgen were worth $1,045,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of AMGN. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in Amgen by 110.7% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 647 shares of the medical research company’s stock valued at $113,000 after purchasing an additional 340 shares during the period. Taylor Hoffman Wealth Management bought a new stake in Amgen during the fourth quarter valued at about $127,000. Salem Investment Counselors Inc. grew its holdings in Amgen by 4.7% during the second quarter. Salem Investment Counselors Inc. now owns 809 shares of the medical research company’s stock valued at $139,000 after purchasing an additional 36 shares during the period. Welch Group LLC bought a new stake in Amgen during the fourth quarter valued at about $148,000. Finally, Horan Capital Advisors LLC. bought a new stake in Amgen during the third quarter valued at about $150,000. 85.76% of the stock is owned by institutional investors.
NASDAQ:AMGN opened at $171.94 on Wednesday. The company has a current ratio of 5.49, a quick ratio of 5.17 and a debt-to-equity ratio of 1.35. The stock has a market capitalization of $114,648.48, a P/E ratio of 13.67, a PEG ratio of 2.10 and a beta of 1.36. Amgen has a 12 month low of $152.16 and a 12 month high of $201.23.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 8th. Investors of record on Thursday, May 17th will be given a $1.32 dividend. The ex-dividend date is Wednesday, May 16th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 3.07%. Amgen’s dividend payout ratio is currently 41.97%.
Amgen announced that its board has approved a share repurchase program on Thursday, February 1st that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the medical research company to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
Several analysts have issued reports on the company. Cowen reissued a “buy” rating and set a $204.00 price target on shares of Amgen in a report on Tuesday. ValuEngine lowered Amgen from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Zacks Investment Research lowered Amgen from a “buy” rating to a “hold” rating in a research note on Tuesday, April 17th. Barclays dropped their price objective on Amgen from $190.00 to $180.00 and set an “equal weight” rating for the company in a research note on Thursday, April 5th. Finally, Oppenheimer set a $205.00 price objective on Amgen and gave the stock a “buy” rating in a research note on Friday, January 5th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and ten have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $190.57.
In related news, EVP Sean E. Harper sold 1,525 shares of the business’s stock in a transaction dated Thursday, April 12th. The stock was sold at an average price of $172.68, for a total value of $263,337.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders sold 4,575 shares of company stock worth $818,330 over the last quarter. 0.27% of the stock is owned by company insiders.
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, nephrology, and neuroscience. The company's products include Evenity to treat osteoporosis in postmenopausal women; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Repatha to treat coronary diseases; Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Parsabiv to treat secondary hyperparathyroidism (sHPT); and Aimovig for the prevention of migraine.
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