Malaga Cove Capital LLC cut its stake in shares of Amgen, Inc. (NASDAQ:AMGN) by 1.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 30,403 shares of the medical research company’s stock after selling 302 shares during the quarter. Amgen makes up approximately 3.0% of Malaga Cove Capital LLC’s portfolio, making the stock its 5th biggest position. Malaga Cove Capital LLC’s holdings in Amgen were worth $5,287,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Baker Ellis Asset Management LLC acquired a new position in Amgen in the third quarter valued at approximately $108,000. Jackson Grant Investment Advisers Inc. boosted its holdings in Amgen by 0.8% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 641 shares of the medical research company’s stock valued at $110,000 after purchasing an additional 5 shares in the last quarter. Phocas Financial Corp. acquired a new position in Amgen in the second quarter valued at approximately $110,000. Omnia Family Wealth LLC boosted its holdings in Amgen by 25.3% in the second quarter. Omnia Family Wealth LLC now owns 729 shares of the medical research company’s stock valued at $125,000 after purchasing an additional 147 shares in the last quarter. Finally, Salem Investment Counselors Inc. boosted its holdings in Amgen by 4.7% in the second quarter. Salem Investment Counselors Inc. now owns 809 shares of the medical research company’s stock valued at $139,000 after purchasing an additional 36 shares in the last quarter. 79.61% of the stock is owned by institutional investors and hedge funds.
In other news, EVP Sean E. Harper sold 1,525 shares of the company’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $185.62, for a total transaction of $283,070.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 4,575 shares of company stock valued at $818,361 in the last 90 days. Company insiders own 0.19% of the company’s stock.
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 Thomson Reuters’ consensus estimate of $3.03 by ($0.14). Amgen had a return on equity of 30.87% and a net margin of 8.66%. The company had revenue of $5.80 billion for the quarter, compared to analysts’ expectations of $5.84 billion. During the same quarter last year, the company earned $2.89 EPS. Amgen’s revenue for the quarter was down 2.7% compared to the same quarter last year. research analysts forecast that Amgen, Inc. will post 13.22 EPS for the current fiscal year.
Amgen announced that its board has approved a stock buyback program on Thursday, February 1st that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the medical research company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 8th. Stockholders of record on Thursday, May 17th will be paid a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a dividend yield of 2.76%. The ex-dividend date of this dividend is Wednesday, May 16th. Amgen’s dividend payout ratio (DPR) is presently 205.45%.
A number of equities analysts recently issued reports on AMGN shares. Argus raised Amgen from a “hold” rating to a “buy” rating and upped their price target for the company from $192.33 to $220.00 in a report on Tuesday, January 23rd. Citigroup downgraded Amgen to a “neutral” rating in a report on Monday, December 18th. JPMorgan Chase & Co. reissued a “hold” rating and issued a $191.00 price objective on shares of Amgen in a report on Sunday, February 4th. Goldman Sachs Group downgraded Amgen from a “conviction-buy” rating to a “buy” rating in a report on Friday, December 15th. Finally, Mizuho set a $192.00 price objective on Amgen and gave the company a “buy” rating in a report on Friday, December 22nd. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $191.72.
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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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