Kingswood Wealth Advisors LLC purchased a new position in Amgen Inc. (NASDAQ:AMGN – Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,150 shares of the medical research company’s stock, valued at approximately $478,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in AMGN. Roundview Capital LLC increased its holdings in shares of Amgen by 1.3% in the 1st quarter. Roundview Capital LLC now owns 8,383 shares of the medical research company’s stock valued at $2,027,000 after acquiring an additional 107 shares during the last quarter. Merit Financial Group LLC increased its stake in Amgen by 39.2% in the first quarter. Merit Financial Group LLC now owns 2,297 shares of the medical research company’s stock valued at $555,000 after purchasing an additional 647 shares during the last quarter. Ergoteles LLC acquired a new stake in Amgen during the first quarter worth approximately $219,000. First Western Trust Bank purchased a new stake in shares of Amgen during the 1st quarter worth approximately $334,000. Finally, Fuller & Thaler Asset Management Inc. boosted its holdings in shares of Amgen by 2.1% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 24,688 shares of the medical research company’s stock valued at $5,970,000 after buying an additional 513 shares in the last quarter. Institutional investors and hedge funds own 74.44% of the company’s stock.
Amgen Stock Performance
Shares of AMGN opened at $266.69 on Tuesday. The company has a market capitalization of $142.73 billion, a PE ratio of 18.95, a P/E/G ratio of 2.55 and a beta of 0.58. Amgen Inc. has a 52-week low of $211.71 and a 52-week high of $291.60. The company has a 50-day simple moving average of $268.38 and a 200-day simple moving average of $246.53. The company has a quick ratio of 2.56, a current ratio of 2.86 and a debt-to-equity ratio of 7.71.
Amgen Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 17th will be given a dividend of $2.13 per share. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $8.52 dividend on an annualized basis and a yield of 3.19%. Amgen’s payout ratio is 60.55%.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on AMGN shares. UBS Group reduced their price target on shares of Amgen from $272.00 to $268.00 and set a “neutral” rating for the company in a research report on Thursday, November 2nd. Leerink Partnrs raised Amgen from a “market perform” rating to an “outperform” rating in a research report on Wednesday, October 11th. Bank of America assumed coverage on Amgen in a research note on Wednesday, October 11th. They issued a “neutral” rating and a $290.00 price objective for the company. Argus lifted their target price on shares of Amgen from $280.00 to $310.00 and gave the company a “buy” rating in a report on Tuesday, October 17th. Finally, Barclays increased their price target on shares of Amgen from $210.00 to $230.00 in a research note on Monday, October 2nd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Amgen currently has a consensus rating of “Hold” and a consensus target price of $278.15.
Insider Buying and Selling at Amgen
In other news, EVP Jonathan P. Graham sold 10,000 shares of Amgen stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $272.81, for a total transaction of $2,728,100.00. Following the completion of the transaction, the executive vice president now owns 28,078 shares of the company’s stock, valued at approximately $7,659,959.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Amgen news, major shareholder Amgen Inc purchased 1,764,705 shares of the stock in a transaction dated Tuesday, September 19th. The shares were acquired at an average cost of $17.00 per share, for a total transaction of $29,999,985.00. Following the completion of the transaction, the insider now directly owns 35,368,653 shares of the company’s stock, valued at $601,267,101. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, EVP Jonathan P. Graham sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $272.81, for a total transaction of $2,728,100.00. Following the transaction, the executive vice president now directly owns 28,078 shares of the company’s stock, valued at $7,659,959.18. The disclosure for this sale can be found here. 0.57% of the stock is owned by corporate 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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