Burns J W & Co. Inc. NY decreased its holdings in Amgen Inc. (NASDAQ:AMGN – Free Report) by 3.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 22,823 shares of the medical research company’s stock after selling 741 shares during the quarter. Burns J W & Co. Inc. NY’s holdings in Amgen were worth $5,067,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Tanglewood Legacy Advisors LLC acquired a new position in Amgen in the fourth quarter worth approximately $26,000. Ruedi Wealth Management Inc. acquired a new position in Amgen in the fourth quarter worth approximately $27,000. Strategic Investment Solutions Inc. IL acquired a new position in Amgen in the first quarter worth approximately $28,000. GW&K Investment Management LLC grew its position in Amgen by 200.0% during the 4th quarter. GW&K Investment Management LLC now owns 120 shares of the medical research company’s stock worth $32,000 after purchasing an additional 80 shares in the last quarter. Finally, General Partner Inc. purchased a new position in Amgen during the 1st quarter worth approximately $32,000. Institutional investors and hedge funds own 74.44% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts have weighed in on AMGN shares. Barclays lowered their price objective on shares of Amgen from $225.00 to $210.00 in a research report on Tuesday, July 11th. Credit Suisse Group lowered their price objective on shares of Amgen from $220.00 to $200.00 in a research report on Wednesday, July 12th. Argus lifted their price objective on shares of Amgen from $260.00 to $280.00 and gave the stock a “buy” rating in a research report on Monday. Truist Financial reiterated a “hold” rating and set a $260.00 price objective on shares of Amgen in a research report on Tuesday, September 5th. Finally, Jefferies Financial Group lifted their price objective on shares of Amgen from $275.00 to $310.00 and gave the stock a “buy” rating in a research report on Monday, August 14th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $265.44.
Amgen Stock Up 0.9 %
AMGN stock opened at $263.15 on Tuesday. The company has a current ratio of 2.77, a quick ratio of 2.48 and a debt-to-equity ratio of 8.76. Amgen Inc. has a 1 year low of $211.71 and a 1 year high of $296.67. The company has a fifty day simple moving average of $248.12 and a 200 day simple moving average of $237.72. The firm has a market cap of $140.76 billion, a PE ratio of 17.74, a PEG ratio of 3.28 and a beta of 0.61.
Amgen (NASDAQ:AMGN – Get Free Report) last released its quarterly earnings data on Thursday, August 3rd. The medical research company reported $5.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.44 by $0.56. Amgen had a net margin of 30.02% and a return on equity of 196.60%. The business had revenue of $7 billion during the quarter, compared to analyst estimates of $6.66 billion. During the same quarter in the previous year, the business earned $4.65 EPS. Amgen’s quarterly revenue was up 6.2% compared to the same quarter last year. Sell-side analysts anticipate that Amgen Inc. will post 18.35 EPS for the current fiscal year.
Amgen Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Friday, August 18th were paid a $2.13 dividend. This represents a $8.52 annualized dividend and a dividend yield of 3.24%. The ex-dividend date was Thursday, August 17th. Amgen’s payout ratio is presently 57.45%.
Insider Activity at Amgen
In related news, EVP Murdo Gordon sold 9,558 shares of Amgen stock in a transaction 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 sale, 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 SEC, which can be accessed through the SEC website. 0.57% of the stock is owned by company insiders.
Amgen Company 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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