Cue Financial Group Inc. increased its position in Amgen, Inc. (NASDAQ:AMGN) by 6.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,569 shares of the medical research company’s stock after acquiring an additional 402 shares during the quarter. Cue Financial Group Inc.’s holdings in Amgen were worth $1,142,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. WESPAC Advisors LLC bought a new position in shares of Amgen during the 4th quarter worth about $2,053,000. Congress Asset Management Co. MA increased its holdings in shares of Amgen by 3.8% during the 4th quarter. Congress Asset Management Co. MA now owns 37,563 shares of the medical research company’s stock worth $6,532,000 after purchasing an additional 1,389 shares during the period. Fulcrum Capital LLC bought a new position in shares of Amgen during the 4th quarter worth about $259,000. Lucas Capital Management bought a new position in shares of Amgen during the 4th quarter worth about $233,000. Finally, Ledyard National Bank increased its holdings in shares of Amgen by 9.7% during the 4th quarter. Ledyard National Bank now owns 35,070 shares of the medical research company’s stock worth $6,099,000 after purchasing an additional 3,093 shares during the period. Hedge funds and other institutional investors own 78.61% of the company’s stock.
Several research analysts have recently issued reports on AMGN shares. Cann restated a “buy” rating and set a $205.00 price objective on shares of Amgen in a report on Thursday, November 30th. Oppenheimer restated a “buy” rating and set a $205.00 price objective on shares of Amgen in a report on Thursday, November 30th. BidaskClub upgraded shares of Amgen from a “strong sell” rating to a “sell” rating in a report on Saturday, December 2nd. Goldman Sachs Group downgraded shares of Amgen from a “conviction-buy” rating to a “buy” rating in a report on Friday, December 15th. Finally, Citigroup downgraded shares of Amgen to a “neutral” rating in a report on Monday, December 18th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and eleven have issued a buy rating to the company’s stock. Amgen presently has a consensus rating of “Hold” and a consensus price target of $191.72.
Amgen, Inc. (NASDAQ:AMGN) opened at $191.10 on Friday. The company has a market cap of $134,860.42, a PE ratio of 74.36, a price-to-earnings-growth ratio of 2.30 and a beta of 1.37. Amgen, Inc. has a 12-month low of $152.16 and a 12-month high of $201.23. The company has a debt-to-equity ratio of 1.35, a current ratio of 5.49 and a quick ratio of 5.17.
Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Thursday, February 1st. The medical research company reported $2.89 EPS for the quarter, missing the Zacks’ consensus estimate of $3.03 by ($0.14). The firm had revenue of $5.80 billion during the quarter, compared to analyst estimates of $5.84 billion. Amgen had a net margin of 8.66% and a return on equity of 30.87%. Amgen’s quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter last year, the firm earned $2.89 earnings per share. equities research analysts predict that Amgen, Inc. will post 13.22 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 8th. Shareholders of record on Thursday, May 17th will be given a $1.32 dividend. The ex-dividend date of this dividend is Wednesday, May 16th. This represents a $5.28 dividend on an annualized basis and a yield of 2.76%. Amgen’s dividend payout ratio (DPR) is presently 205.45%.
Amgen declared that its board has approved a share buyback plan on Thursday, February 1st that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the medical research company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
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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