Lincoln National Corp cut its stake in Amgen, Inc. (NASDAQ:AMGN) by 9.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,816 shares of the medical research company’s stock after selling 299 shares during the period. Lincoln National Corp’s holdings in Amgen were worth $525,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently modified their holdings of AMGN. Columbia Asset Management raised its holdings in shares of Amgen by 10.4% in the 1st quarter. Columbia Asset Management now owns 23,700 shares of the medical research company’s stock worth $3,888,000 after buying an additional 2,238 shares in the last quarter. Eliot Finkel Investment Counsel LLC raised its holdings in shares of Amgen by 6.2% in the 1st quarter. Eliot Finkel Investment Counsel LLC now owns 32,305 shares of the medical research company’s stock worth $5,300,000 after buying an additional 1,880 shares in the last quarter. SRS Capital Advisors Inc. raised its holdings in shares of Amgen by 22.9% in the 1st quarter. SRS Capital Advisors Inc. now owns 1,696 shares of the medical research company’s stock worth $278,000 after buying an additional 316 shares in the last quarter. Verity Asset Management Inc. acquired a new position in shares of Amgen in the 1st quarter worth approximately $318,000. Finally, Perceptive Advisors LLC acquired a new position in shares of Amgen in the 1st quarter worth approximately $3,281,000. 78.46% of the stock is owned by institutional investors and hedge funds.
In other news, Director Carbonnel Francois De sold 4,000 shares of Amgen stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $173.61, for a total value of $694,440.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Sean E. Harper sold 1,525 shares of Amgen stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $176.83, for a total value of $269,665.75. Following the completion of the sale, the executive vice president now directly owns 56,106 shares of the company’s stock, valued at $9,921,223.98. The disclosure for this sale can be found here. Insiders sold a total of 8,575 shares of company stock valued at $1,509,339 over the last three months. Insiders own 0.19% of the company’s stock.
Amgen (NASDAQ:AMGN) last released its earnings results on Wednesday, October 25th. The medical research company reported $3.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.11 by $0.16. The company had revenue of $5.77 billion during the quarter, compared to analysts’ expectations of $5.75 billion. Amgen had a return on equity of 29.90% and a net margin of 35.54%. The business’s revenue for the quarter was down .7% on a year-over-year basis. During the same period last year, the firm earned $3.02 EPS. sell-side analysts predict that Amgen, Inc. will post 12.71 earnings per share for the current fiscal year.
Amgen declared that its board has initiated a stock buyback program on Wednesday, October 25th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 8th. Stockholders of record on Thursday, February 15th will be paid a $1.32 dividend. This is a boost from Amgen’s previous quarterly dividend of $1.15. This represents a $5.28 annualized dividend and a dividend yield of 2.94%. The ex-dividend date of this dividend is Wednesday, February 14th. Amgen’s dividend payout ratio (DPR) is 41.55%.
A number of equities research analysts recently weighed in on AMGN shares. BMO Capital Markets reaffirmed a “market perform” rating and set a $198.00 price target on shares of Amgen in a report on Thursday, October 26th. Oppenheimer reaffirmed a “buy” rating and set a $203.00 price target on shares of Amgen in a report on Thursday, September 7th. Mizuho reaffirmed a “buy” rating and set a $198.00 price target (up from $183.00) on shares of Amgen in a report on Thursday, September 28th. Zacks Investment Research cut Amgen from a “buy” rating to a “hold” rating in a report on Monday, October 16th. Finally, BidaskClub raised Amgen from a “strong sell” rating to a “sell” rating in a report on Saturday, December 2nd. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $190.15.
Amgen Inc is a biotechnology company. The Company discovers, develops, manufactures and delivers various human therapeutics. It operates in human therapeutics segment. Its marketed products portfolio includes Neulasta (pegfilgrastim); erythropoiesis-stimulating agents (ESAs), such as Aranesp (darbepoetin alfa) and EPOGEN (epoetin alfa); Sensipar/Mimpara (cinacalcet); XGEVA (denosumab); Prolia (denosumab); NEUPOGEN (filgrastim), and other marketed products, such as KYPROLIS (carfilzomib), Vectibix (panitumumab), Nplate (romiplostim), Repatha (evolocumab), BLINCYTO (blinatumomab), IMLYGIC (talimogene laherparepvec) and Corlanor (ivabradine).
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