Arbor Wealth Management LLC grew its position in Amgen, Inc. (NASDAQ:AMGN) by 154.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 168 shares of the medical research company’s stock after purchasing an additional 102 shares during the period. Arbor Wealth Management LLC’s holdings in Amgen were worth $31,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of AMGN. Carderock Capital Management Inc. boosted its stake in Amgen by 2.6% during the 2nd quarter. Carderock Capital Management Inc. now owns 30,802 shares of the medical research company’s stock valued at $5,676,000 after purchasing an additional 793 shares during the period. OLD National Bancorp IN lifted its position in shares of Amgen by 12.5% in the 2nd quarter. OLD National Bancorp IN now owns 22,198 shares of the medical research company’s stock worth $4,091,000 after acquiring an additional 2,475 shares during the period. JGP Wealth Management LLC lifted its position in shares of Amgen by 4.5% in the 2nd quarter. JGP Wealth Management LLC now owns 21,321 shares of the medical research company’s stock worth $3,929,000 after acquiring an additional 913 shares during the period. Beech Hill Advisors Inc. lifted its position in shares of Amgen by 13.3% in the 2nd quarter. Beech Hill Advisors Inc. now owns 2,558 shares of the medical research company’s stock worth $471,000 after acquiring an additional 300 shares during the period. Finally, Raymond James Trust N.A. lifted its position in shares of Amgen by 2.8% in the 2nd quarter. Raymond James Trust N.A. now owns 54,380 shares of the medical research company’s stock worth $10,021,000 after acquiring an additional 1,463 shares during the period. 78.96% of the stock is currently owned by institutional investors.
A number of equities analysts have recently issued reports on the company. Morgan Stanley dropped their target price on Amgen from $211.00 to $207.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Mizuho reaffirmed a “buy” rating and set a $208.00 price target on shares of Amgen in a report on Monday, July 1st. Cowen reaffirmed a “buy” rating and set a $229.00 price target on shares of Amgen in a report on Wednesday, May 1st. BMO Capital Markets set a $230.00 price target on Amgen and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, BidaskClub raised Amgen from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Nine equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $211.44.
Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, July 30th. The medical research company reported $3.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.58 by $0.39. The company had revenue of $5.87 billion during the quarter, compared to analysts’ expectations of $5.67 billion. Amgen had a return on equity of 76.17% and a net margin of 33.78%. The business’s revenue was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.83 earnings per share. On average, equities analysts expect that Amgen, Inc. will post 14.25 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Thursday, August 15th will be paid a $1.45 dividend. This represents a $5.80 annualized dividend and a dividend yield of 2.91%. The ex-dividend date is Wednesday, August 14th. Amgen’s dividend payout ratio (DPR) is currently 40.28%.
In other Amgen news, Director R Sanders Williams sold 425 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $183.04, for a total transaction of $77,792.00. Following the completion of the sale, the director now directly owns 16,336 shares in the company, valued at $2,990,141.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ronald D. Sugar sold 2,000 shares of the company’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $187.58, for a total transaction of $375,160.00. Following the transaction, the director now owns 16,336 shares of the company’s stock, valued at $3,064,306.88. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,425 shares of company stock valued at $804,312. 0.25% of the stock is currently owned by corporate insiders.
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, and neuroscience. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Aranesp to treat anemia; Xgeva for skeletal-related events prevention; Sensipar/Mimpara products to treat sHPT in chronic kidney disease; and EPOGEN to treat a lower-than-normal number of red blood cells.
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