Intech Investment Management LLC cut its stake in shares of Amgen Inc. (NASDAQ:AMGN – Free Report) by 35.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 85,987 shares of the medical research company’s stock after selling 47,977 shares during the quarter. Intech Investment Management LLC’s holdings in Amgen were worth $19,091,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also bought and sold shares of AMGN. Strategic Investment Solutions Inc. IL bought a new stake in Amgen during the first quarter valued at approximately $28,000. PrairieView Partners LLC lifted its position in Amgen by 250.0% during the second quarter. PrairieView Partners LLC now owns 140 shares of the medical research company’s stock valued at $31,000 after purchasing an additional 100 shares during the last quarter. Lumature Wealth Partners LLC lifted its holdings in shares of Amgen by 51.1% in the 1st quarter. Lumature Wealth Partners LLC now owns 142 shares of the medical research company’s stock worth $34,000 after acquiring an additional 48 shares during the last quarter. Guardian Wealth Advisors LLC bought a new stake in shares of Amgen in the 1st quarter worth approximately $37,000. Finally, Impact Partnership Wealth LLC bought a new stake in shares of Amgen in the 2nd quarter worth approximately $37,000. 74.44% of the stock is currently owned by institutional investors.
Amgen Stock Performance
Shares of Amgen stock opened at $267.31 on Monday. The stock has a market cap of $143.06 billion, a price-to-earnings ratio of 19.00, a PEG ratio of 2.55 and a beta of 0.58. The firm’s 50-day moving average is $268.18 and its 200 day moving average is $246.35. Amgen Inc. has a 1 year low of $211.71 and a 1 year high of $291.60. 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 Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Shareholders 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 is Thursday, November 16th. Amgen’s dividend payout ratio is currently 60.55%.
Analyst Upgrades and Downgrades
AMGN has been the subject of a number of recent research reports. Bank of America initiated coverage on shares of Amgen in a report on Wednesday, October 11th. They issued a “neutral” rating and a $290.00 price objective for the company. HSBC initiated coverage on shares of Amgen in a report on Wednesday, September 6th. They issued a “buy” rating and a $320.00 price objective for the company. Jefferies Financial Group restated a “buy” rating and issued a $310.00 price objective on shares of Amgen in a report on Thursday, October 12th. UBS Group decreased their target price on shares of Amgen from $272.00 to $268.00 and set a “neutral” rating on the stock in a research note on Thursday, November 2nd. Finally, Morgan Stanley decreased their target price on shares of Amgen from $300.00 to $291.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 1st. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $278.15.
Insider Buying and Selling at Amgen
In related news, major shareholder Amgen Inc bought 1,764,705 shares of the stock in a transaction on Tuesday, September 19th. The shares were acquired at an average price of $17.00 per share, for a total transaction of $29,999,985.00. Following the purchase, the insider now owns 35,368,653 shares of the company’s stock, valued at $601,267,101. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.57% 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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