Sawgrass Asset Management LLC purchased a new stake in shares of Amgen Inc. (NASDAQ:AMGN – Get Rating) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 77,946 shares of the medical research company’s stock, valued at approximately $18,849,000. Amgen comprises approximately 2.0% of Sawgrass Asset Management LLC’s portfolio, making the stock its 14th biggest holding.
Several other institutional investors and hedge funds have also recently modified their holdings of AMGN. Motley Fool Asset Management LLC boosted its position in shares of Amgen by 3.2% during the 4th quarter. Motley Fool Asset Management LLC now owns 14,587 shares of the medical research company’s stock valued at $3,282,000 after acquiring an additional 458 shares during the last quarter. Fort L.P. boosted its position in shares of Amgen by 2.7% during the 4th quarter. Fort L.P. now owns 6,528 shares of the medical research company’s stock valued at $1,469,000 after acquiring an additional 173 shares during the last quarter. Equitable Holdings Inc. boosted its position in shares of Amgen by 28.5% during the 4th quarter. Equitable Holdings Inc. now owns 14,084 shares of the medical research company’s stock valued at $3,168,000 after acquiring an additional 3,125 shares during the last quarter. Core Alternative Capital boosted its position in shares of Amgen by 4.2% during the 4th quarter. Core Alternative Capital now owns 36,287 shares of the medical research company’s stock valued at $7,914,000 after acquiring an additional 1,447 shares during the last quarter. Finally, Prudential PLC lifted its position in Amgen by 33.8% in the fourth quarter. Prudential PLC now owns 49,509 shares of the medical research company’s stock valued at $11,138,000 after buying an additional 12,512 shares during the last quarter. Institutional investors and hedge funds own 77.14% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms have commented on AMGN. Atlantic Securities decreased their target price on shares of Amgen from $190.00 to $182.00 and set an “underweight” rating on the stock in a research report on Tuesday, August 9th. TheStreet raised shares of Amgen from a “c+” rating to a “b” rating in a research report on Monday, August 15th. SVB Leerink initiated coverage on shares of Amgen in a research report on Monday, May 23rd. They issued a “market perform” rating and a $256.00 target price on the stock. Oppenheimer reiterated an “outperform” rating and set a $290.00 price target on shares of Amgen in a research note on Thursday, September 1st. Finally, Royal Bank of Canada boosted their price target on shares of Amgen from $224.00 to $236.00 in a research note on Friday, August 5th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $241.13.
Insider Buying and Selling at Amgen
In other Amgen news, Director Robert Eckert sold 6,600 shares of the stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $249.00, for a total value of $1,643,400.00. Following the transaction, the director now directly owns 21,184 shares in the company, valued at $5,274,816. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director R Sanders Williams sold 200 shares of the stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $249.96, for a total value of $49,992.00. Following the completion of the sale, the director now directly owns 5,301 shares of the company’s stock, valued at $1,325,037.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert Eckert sold 6,600 shares of the stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $249.00, for a total value of $1,643,400.00. Following the completion of the sale, the director now directly owns 21,184 shares of the company’s stock, valued at $5,274,816. The disclosure for this sale can be found here. 0.46% of the stock is currently owned by insiders.
Amgen Stock Down 4.5 %
AMGN stock opened at $226.86 on Wednesday. The company’s 50 day moving average price is $246.02 and its 200 day moving average price is $243.53. The company has a debt-to-equity ratio of 14.76, a quick ratio of 1.17 and a current ratio of 1.53. Amgen Inc. has a fifty-two week low of $198.64 and a fifty-two week high of $258.45. The firm has a market capitalization of $121.35 billion, a price-to-earnings ratio of 19.23, a PEG ratio of 2.00 and a beta of 0.56.
Amgen (NASDAQ:AMGN – Get Rating) last released its earnings results on Thursday, August 4th. The medical research company reported $4.65 earnings per share for the quarter, topping analysts’ consensus estimates of $4.40 by $0.25. The firm had revenue of $6.59 billion for the quarter, compared to analyst estimates of $6.53 billion. Amgen had a net margin of 24.92% and a return on equity of 218.34%. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.38 earnings per share. On average, equities research analysts anticipate that Amgen Inc. will post 17.45 EPS for the current fiscal year.
Amgen Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, September 8th. Shareholders of record on Thursday, August 18th were paid a $1.94 dividend. The ex-dividend date of this dividend was Wednesday, August 17th. This represents a $7.76 annualized dividend and a yield of 3.42%. Amgen’s dividend payout ratio is currently 65.76%.
Amgen Profile
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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