Wedge Capital Management L L P NC raised its holdings in Amgen, Inc. (NASDAQ:AMGN) by 17.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 259,044 shares of the medical research company’s stock after buying an additional 38,005 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Amgen were worth $45,048,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in AMGN. Baker Ellis Asset Management LLC acquired a new stake in shares of Amgen in the 3rd quarter valued at $108,000. Jackson Grant Investment Advisers Inc. boosted its stake in shares of Amgen by 0.8% in the 2nd 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 stake in shares of Amgen in the 2nd quarter valued at $110,000. Omnia Family Wealth LLC boosted its stake in shares of Amgen by 25.3% in the 2nd 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 stake in shares of Amgen by 4.7% in the 2nd 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 currently owned by hedge funds and other institutional investors.
Shares of Amgen, Inc. (NASDAQ AMGN) opened at $189.00 on Monday. The company has a debt-to-equity ratio of 1.35, a current ratio of 5.49 and a quick ratio of 5.17. The company has a market capitalization of $137,700.00, a PE ratio of 17.37, a PEG ratio of 2.35 and a beta of 1.37. Amgen, Inc. has a 52 week low of $152.16 and a 52 week high of $201.23.
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 $1.32 dividend. The ex-dividend date is Wednesday, May 16th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 2.79%. Amgen’s dividend payout ratio (DPR) is presently 48.00%.
Amgen announced that its Board of Directors has approved a share repurchase plan on Thursday, February 1st that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the medical research company to purchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.
Several equities research analysts have recently commented on the stock. Argus upgraded shares of Amgen from a “hold” rating to a “buy” rating and boosted their target price for the company from $192.33 to $220.00 in a research note on Tuesday, January 23rd. Royal Bank of Canada reiterated a “hold” rating and set a $189.00 price target on shares of Amgen in a research report on Wednesday, January 24th. JPMorgan Chase & Co. upped their price target on shares of Amgen from $184.00 to $189.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 24th. Vetr downgraded shares of Amgen from a “hold” rating to a “sell” rating and set a $181.60 price target on the stock. in a research report on Tuesday, March 6th. Finally, BMO Capital Markets upped their price target on shares of Amgen from $192.00 to $202.00 and gave the stock a “market perform” rating in a research report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and eleven have given a buy rating to the company. Amgen currently has an average rating of “Hold” and a consensus price target of $191.72.
In other news, EVP Sean E. Harper sold 1,525 shares of the company’s stock in a transaction dated Tuesday, December 12th. The stock was 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 approximately $9,921,223.98. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders sold 4,575 shares of company stock valued at $818,361. 0.19% of the stock is currently owned by company insiders.
TRADEMARK VIOLATION NOTICE: This news story was originally published by Ticker Report and is the sole property of of Ticker Report. If you are reading this news story on another site, it was illegally stolen and reposted in violation of U.S. and international trademark & copyright legislation. The legal version of this news story can be accessed at https://www.tickerreport.com/banking-finance/3257759/wedge-capital-management-l-l-p-nc-has-45-05-million-holdings-in-amgen-inc-amgn.html.
Amgen Company Profile
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).
Want to see what other hedge funds are holding AMGN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Amgen, Inc. (NASDAQ:AMGN).
Receive News & Ratings for Amgen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amgen and related companies with MarketBeat.com's FREE daily email newsletter.