Beech Hill Advisors Inc. decreased its stake in shares of Amgen Inc. (NASDAQ:AMGN – Free Report) by 5.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,150 shares of the medical research company’s stock after selling 125 shares during the period. Beech Hill Advisors Inc.’s holdings in Amgen were worth $477,000 as of its most recent filing with the SEC.
Other large investors have also modified their holdings of the company. Moneta Group Investment Advisors LLC raised its stake in Amgen by 83,875.6% during 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 acquiring an additional 7,532,031 shares during the period. Norges Bank acquired a new stake in Amgen during the fourth quarter worth about $1,351,778,000. Envestnet Asset Management Inc. raised its stake in Amgen by 216.1% during the first quarter. Envestnet Asset Management Inc. now owns 2,690,718 shares of the medical research company’s stock worth $228,997,000 after acquiring an additional 1,839,455 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Amgen by 158.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,950,013 shares of the medical research company’s stock worth $774,791,000 after acquiring an additional 1,806,456 shares during the period. Finally, Morgan Stanley raised its stake in Amgen by 12.9% during the fourth quarter. Morgan Stanley now owns 13,301,365 shares of the medical research company’s stock worth $3,493,471,000 after acquiring an additional 1,523,665 shares during the period. Institutional investors own 74.44% of the company’s stock.
Insider Buying and Selling
In related news, EVP Murdo Gordon sold 9,558 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $262.43, for a total value of $2,508,305.94. Following the completion of the transaction, the executive vice president now owns 44,308 shares of the company’s stock, valued at approximately $11,627,748.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.46% of the company’s stock.
Amgen Trading Down 0.6 %
Amgen (NASDAQ:AMGN – Get Free Report) last issued 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 firm had revenue of $7 billion during the quarter, compared to analysts’ expectations of $6.66 billion. Amgen had a net margin of 30.02% and a return on equity of 196.60%. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period last year, the firm posted $4.65 earnings per share. On average, research analysts anticipate that Amgen Inc. will post 18.35 EPS for the current fiscal year.
Amgen Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Friday, August 18th were issued a dividend of $2.13 per share. This represents a $8.52 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date of this dividend was Thursday, August 17th. Amgen’s payout ratio is 57.45%.
Analysts Set New Price Targets
Several equities research analysts have commented on AMGN shares. Oppenheimer restated an “outperform” rating and issued a $280.00 price target on shares of Amgen in a research note on Tuesday, July 25th. Royal Bank of Canada raised their price target on shares of Amgen from $250.00 to $253.00 and gave the company a “sector perform” rating in a research note on Friday, August 4th. Argus dropped their price target on shares of Amgen from $270.00 to $260.00 in a research note on Monday, June 26th. Jefferies Financial Group raised their price target on shares of Amgen from $275.00 to $310.00 and gave the company a “buy” rating in a research note on Monday, August 14th. Finally, Credit Suisse Group dropped their price target on shares of Amgen from $220.00 to $200.00 in a research note on Wednesday, July 12th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Amgen currently has a consensus rating of “Hold” and a consensus price target of $264.19.
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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