Blue Fin Capital Inc. grew its stake in shares of Amgen Inc. (NASDAQ:AMGN – Get Rating) by 7.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,911 shares of the medical research company’s stock after purchasing an additional 428 shares during the quarter. Blue Fin Capital Inc.’s holdings in Amgen were worth $1,332,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. FMR LLC raised its holdings in Amgen by 24.9% during the second quarter. FMR LLC now owns 8,911,384 shares of the medical research company’s stock worth $2,168,140,000 after purchasing an additional 1,774,223 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Amgen by 1.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 8,819,690 shares of the medical research company’s stock worth $2,132,778,000 after purchasing an additional 94,565 shares in the last quarter. State Farm Mutual Automobile Insurance Co. raised its holdings in Amgen by 1.4% during the second quarter. State Farm Mutual Automobile Insurance Co. now owns 2,779,471 shares of the medical research company’s stock worth $676,245,000 after purchasing an additional 37,200 shares in the last quarter. Federated Hermes Inc. increased its holdings in shares of Amgen by 23.3% in the 2nd quarter. Federated Hermes Inc. now owns 1,831,164 shares of the medical research company’s stock valued at $445,522,000 after acquiring an additional 346,190 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in shares of Amgen by 279.3% in the 2nd quarter. Renaissance Technologies LLC now owns 1,439,745 shares of the medical research company’s stock valued at $350,290,000 after acquiring an additional 1,060,200 shares during the period. Institutional investors and hedge funds own 75.53% of the company’s stock.
Analysts Set New Price Targets
A number of equities analysts have recently commented on AMGN shares. Credit Suisse Group started coverage on shares of Amgen in a report on Thursday, November 17th. They issued an “underperform” rating and a $240.00 target price on the stock. SVB Leerink lifted their target price on shares of Amgen from $256.00 to $282.00 and gave the company a “market perform” rating in a report on Thursday, December 22nd. Morgan Stanley lifted their target price on shares of Amgen from $279.00 to $282.00 and gave the company an “overweight” rating in a report on Friday, November 4th. Barclays lifted their target price on shares of Amgen from $234.00 to $240.00 and gave the company an “underweight” rating in a report on Wednesday, January 18th. Finally, Royal Bank of Canada lifted their price objective on shares of Amgen from $235.00 to $240.00 and gave the company a “sector perform” rating in a research report on Friday, November 4th. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $253.57.
Amgen Price Performance
Amgen (NASDAQ:AMGN – Get Rating) last issued its earnings results on Thursday, November 3rd. The medical research company reported $4.70 EPS for the quarter, topping the consensus estimate of $4.43 by $0.27. The company had revenue of $6.65 billion for the quarter, compared to analyst estimates of $6.56 billion. Amgen had a net margin of 25.96% and a return on equity of 287.23%. The business’s revenue was down .8% on a year-over-year basis. During the same period in the previous year, the firm earned $4.67 EPS. Analysts forecast that Amgen Inc. will post 17.62 EPS for the current fiscal year.
Amgen Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 8th. Shareholders of record on Wednesday, February 15th will be given a dividend of $2.13 per share. This is a positive change from Amgen’s previous quarterly dividend of $1.94. This represents a $8.52 annualized dividend and a dividend yield of 3.24%. The ex-dividend date is Tuesday, February 14th. Amgen’s payout ratio is presently 62.23%.
Insider Transactions at Amgen
In other news, SVP Nancy A. Grygiel sold 545 shares of Amgen stock in a transaction on Tuesday, November 8th. The stock was sold at an average price of $293.54, for a total transaction of $159,979.30. Following the completion of the transaction, the senior vice president now owns 13,009 shares of the company’s stock, valued at approximately $3,818,661.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.46% of the company’s stock.
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology, and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta that reduces the chance of infection due a low white blood cell count in patients cancer; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; and Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization.
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