Berkshire Asset Management LLC PA Reduces Position in Amgen Inc. (NASDAQ:AMGN)

Berkshire Asset Management LLC PA decreased its position in Amgen Inc. (NASDAQ:AMGNFree Report) by 0.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,767 shares of the medical research company’s stock after selling 231 shares during the period. Berkshire Asset Management LLC PA’s holdings in Amgen were worth $7,196,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of Amgen by 0.5% in the first quarter. BlackRock Inc. now owns 48,780,233 shares of the medical research company’s stock worth $11,792,621,000 after acquiring an additional 265,593 shares during the period. Morgan Stanley grew its position in Amgen by 12.9% during the 4th quarter. Morgan Stanley now owns 13,301,365 shares of the medical research company’s stock worth $3,493,471,000 after purchasing an additional 1,523,665 shares during the period. Geode Capital Management LLC raised its stake in shares of Amgen by 0.5% during the 1st quarter. Geode Capital Management LLC now owns 11,430,259 shares of the medical research company’s stock valued at $2,757,927,000 after buying an additional 54,692 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Amgen by 15.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 10,761,437 shares of the medical research company’s stock valued at $2,601,577,000 after buying an additional 1,474,151 shares during the period. Finally, Moneta Group Investment Advisors LLC boosted its stake in shares of Amgen by 83,875.6% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 7,541,011 shares of the medical research company’s stock worth $1,980,571,000 after buying an additional 7,532,031 shares during the last quarter. Institutional investors and hedge funds own 74.44% of the company’s stock.

Insider Activity

In other Amgen news, EVP Murdo Gordon sold 9,558 shares of Amgen stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $262.43, for a total transaction of $2,508,305.94. Following the transaction, the executive vice president now directly owns 44,308 shares of the company’s stock, valued at $11,627,748.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.46% of the company’s stock.

Amgen Price Performance

Amgen stock opened at $257.23 on Thursday. The company has a fifty day simple moving average of $245.86 and a 200-day simple moving average of $237.17. The firm has a market capitalization of $137.59 billion, a price-to-earnings ratio of 17.35, a PEG ratio of 3.20 and a beta of 0.61. The company has a quick ratio of 2.48, a current ratio of 2.77 and a debt-to-equity ratio of 8.76. Amgen Inc. has a 52-week low of $211.71 and a 52-week high of $296.67.

Amgen (NASDAQ:AMGNGet Free Report) last released its earnings results on Thursday, August 3rd. The medical research company reported $5.00 earnings per share for the quarter, topping analysts’ consensus estimates of $4.44 by $0.56. The business had revenue of $7 billion for the quarter, compared to analyst estimates of $6.66 billion. Amgen had a net margin of 30.02% and a return on equity of 196.60%. The business’s revenue was up 6.2% on a year-over-year basis. During the same period last year, the company posted $4.65 EPS. On average, equities analysts anticipate that Amgen Inc. will post 18.35 EPS for the current fiscal year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Friday, August 18th were issued a dividend of $2.13 per share. The ex-dividend date of this dividend was Thursday, August 17th. This represents a $8.52 annualized dividend and a dividend yield of 3.31%. Amgen’s dividend payout ratio is presently 57.45%.

Analyst Upgrades and Downgrades

AMGN has been the subject of several recent research reports. HSBC began coverage on Amgen in a research report on Wednesday, September 6th. They set a “buy” rating and a $320.00 price target for the company. Oppenheimer reaffirmed an “outperform” rating and set a $280.00 target price on shares of Amgen in a report on Tuesday, July 25th. Credit Suisse Group lowered their price target on shares of Amgen from $220.00 to $200.00 in a report on Wednesday, July 12th. Mizuho lifted their price objective on shares of Amgen from $214.00 to $223.00 and gave the company a “neutral” rating in a report on Monday, August 14th. Finally, Royal Bank of Canada increased their target price on shares of Amgen from $250.00 to $253.00 and gave the stock a “sector perform” rating in a research note on Friday, August 4th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $264.19.

View Our Latest Analysis on AMGN

About Amgen

(Free Report)

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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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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