Aveo Capital Partners LLC grew its stake in Amgen Inc. (NASDAQ:AMGN – Free Report) by 22.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,795 shares of the medical research company’s stock after buying an additional 331 shares during the period. Aveo Capital Partners LLC’s holdings in Amgen were worth $399,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. Kestra Private Wealth Services LLC increased its position in shares of Amgen by 3.0% during the second quarter. Kestra Private Wealth Services LLC now owns 47,877 shares of the medical research company’s stock worth $10,630,000 after buying an additional 1,412 shares during the period. Wrapmanager Inc. grew its stake in Amgen by 18.2% during the second quarter. Wrapmanager Inc. now owns 4,997 shares of the medical research company’s stock worth $1,110,000 after purchasing an additional 768 shares during the period. Claro Advisors LLC lifted its stake in Amgen by 6.9% in the second quarter. Claro Advisors LLC now owns 1,868 shares of the medical research company’s stock valued at $415,000 after buying an additional 120 shares during the period. Sequoia Financial Advisors LLC boosted its holdings in shares of Amgen by 6.4% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 14,466 shares of the medical research company’s stock worth $3,212,000 after buying an additional 871 shares in the last quarter. Finally, Advisor OS LLC bought a new stake in shares of Amgen in the 2nd quarter valued at $231,000. 74.44% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on AMGN shares. HSBC assumed coverage on shares of Amgen in a report on Wednesday, September 6th. They issued a “buy” rating and a $320.00 price target for the company. Wells Fargo & Company boosted their price objective on Amgen from $265.00 to $320.00 in a report on Thursday, October 12th. Mizuho increased their target price on Amgen from $214.00 to $223.00 and gave the stock a “neutral” rating in a report on Monday, August 14th. Leerink Partnrs upgraded shares of Amgen from a “market perform” rating to an “outperform” rating in a research note on Wednesday, October 11th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $270.00 price objective on shares of Amgen in a research note on Friday, October 20th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $278.15.
Insider Buying and Selling
In other Amgen news, major shareholder Amgen Inc purchased 1,764,705 shares of the company’s stock in a transaction dated Tuesday, September 19th. The stock was purchased at an average price of $17.00 per share, for a total transaction of $29,999,985.00. Following the transaction, the insider now owns 35,368,653 shares in the company, valued at approximately $601,267,101. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.46% of the stock is owned by company insiders.
Amgen Price Performance
Amgen stock opened at $267.31 on Friday. The company has a debt-to-equity ratio of 7.71, a current ratio of 2.86 and a quick ratio of 2.56. Amgen Inc. has a one year low of $211.71 and a one year high of $291.60. The firm has a market capitalization of $143.06 billion, a P/E ratio of 19.00, a PEG ratio of 2.74 and a beta of 0.58. The business has a fifty day moving average price of $268.18 and a 200-day moving average price of $246.29.
Amgen (NASDAQ:AMGN – Get Free Report) last announced its quarterly earnings results on Tuesday, October 31st. The medical research company reported $4.96 earnings per share for the quarter, beating the consensus estimate of $4.65 by $0.31. The firm had revenue of $6.90 billion for the quarter, compared to analysts’ expectations of $6.92 billion. Amgen had a return on equity of 165.37% and a net margin of 28.20%. The company’s revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the business posted $4.70 earnings per share. As a group, equities research analysts forecast that Amgen Inc. will post 18.65 EPS for the current year.
Amgen Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 17th will be paid a dividend of $2.13 per share. This represents a $8.52 annualized dividend and a yield of 3.19%. The ex-dividend date of this dividend is Thursday, November 16th. Amgen’s dividend payout ratio is 60.55%.
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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