City Holding Co. lifted its holdings in Amgen, Inc. (NASDAQ:AMGN) by 0.4% during the 1st quarter, HoldingsChannel reports. The fund owned 18,096 shares of the medical research company’s stock after acquiring an additional 81 shares during the quarter. City Holding Co.’s holdings in Amgen were worth $3,438,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. grew its stake in shares of Amgen by 2.0% in the fourth quarter. BlackRock Inc. now owns 46,127,396 shares of the medical research company’s stock valued at $8,979,621,000 after acquiring an additional 906,568 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in shares of Amgen by 20,103.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 31,424,215 shares of the medical research company’s stock valued at $161,000 after acquiring an additional 31,268,677 shares in the last quarter. Northern Trust Corp grew its stake in shares of Amgen by 4.7% in the fourth quarter. Northern Trust Corp now owns 9,182,050 shares of the medical research company’s stock valued at $1,787,470,000 after acquiring an additional 408,675 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Amgen by 5.8% in the fourth quarter. Geode Capital Management LLC now owns 8,850,224 shares of the medical research company’s stock valued at $1,720,250,000 after acquiring an additional 482,760 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Amgen in the fourth quarter valued at about $1,283,248,000. Institutional investors and hedge funds own 80.65% of the company’s stock.
Several research firms recently weighed in on AMGN. Mizuho reaffirmed a “buy” rating and set a $208.00 price objective on shares of Amgen in a research report on Friday. JPMorgan Chase & Co. reaffirmed a “hold” rating and set a $190.00 price objective on shares of Amgen in a research report on Wednesday, May 15th. Cowen reaffirmed a “buy” rating and set a $229.00 price objective on shares of Amgen in a research report on Wednesday, May 1st. BidaskClub cut shares of Amgen from a “hold” rating to a “sell” rating in a research report on Tuesday, April 23rd. Finally, Zacks Investment Research cut shares of Amgen from a “buy” rating to a “hold” rating in a research report on Monday, April 15th. One analyst has rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company’s stock. Amgen has an average rating of “Hold” and a consensus target price of $208.84.
Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, April 30th. The medical research company reported $3.56 EPS for the quarter, topping analysts’ consensus estimates of $3.45 by $0.11. The firm had revenue of $5.56 billion during the quarter, compared to analysts’ expectations of $5.55 billion. Amgen had a net margin of 34.00% and a return on equity of 71.02%. The business’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.47 earnings per share. As a group, analysts anticipate that Amgen, Inc. will post 13.94 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be issued a $1.45 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $5.80 dividend on an annualized basis and a dividend yield of 3.41%. Amgen’s dividend payout ratio (DPR) is currently 40.28%.
In other news, Director Ronald D. Sugar sold 2,000 shares of the stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $193.18, for a total value of $386,360.00. Following the completion of the transaction, the director now owns 15,092 shares of the company’s stock, valued at $2,915,472.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 6,000 shares of company stock valued at $1,115,580 in the last three months. Company insiders own 0.25% of the company’s stock.
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Amgen Company Profile
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, and neuroscience. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Aranesp to treat anemia; Xgeva for skeletal-related events prevention; Sensipar/Mimpara products to treat sHPT in chronic kidney disease; and EPOGEN to treat a lower-than-normal number of red blood cells.
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