Pzena Investment Management LLC increased its stake in Amgen, Inc. (NASDAQ:AMGN) by 34.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,688 shares of the medical research company’s stock after purchasing an additional 433 shares during the quarter. Pzena Investment Management LLC’s holdings in Amgen were worth $294,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. Lingohr & Partner Asset Management GmbH boosted its position in Amgen by 71.4% during the 2nd quarter. Lingohr & Partner Asset Management GmbH now owns 8,165 shares of the medical research company’s stock worth $1,340,000 after acquiring an additional 3,400 shares during the period. Thrivent Financial For Lutherans boosted its position in Amgen by 107.1% during the 2nd quarter. Thrivent Financial For Lutherans now owns 118,342 shares of the medical research company’s stock worth $20,382,000 after acquiring an additional 61,212 shares during the period. Verity Asset Management Inc. boosted its position in Amgen by 363.8% during the 2nd quarter. Verity Asset Management Inc. now owns 8,989 shares of the medical research company’s stock worth $1,548,000 after acquiring an additional 7,051 shares during the period. Investec Asset Management LTD boosted its position in Amgen by 1,081.7% during the 2nd quarter. Investec Asset Management LTD now owns 21,967 shares of the medical research company’s stock worth $3,783,000 after acquiring an additional 20,108 shares during the period. Finally, Fort L.P. acquired a new stake in Amgen during the 2nd quarter worth about $4,294,000. 79.53% of the stock is currently owned by hedge funds and other institutional investors.
AMGN opened at $168.14 on Friday. Amgen, Inc. has a twelve month low of $152.16 and a twelve 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. The company has a market capitalization of $121,155.30, a P/E ratio of 13.37, a P/E/G ratio of 2.06 and a beta of 1.36.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 8th. Investors of record on Thursday, May 17th will be issued a $1.32 dividend. The ex-dividend date is Wednesday, May 16th. This represents a $5.28 annualized dividend and a yield of 3.14%. Amgen’s dividend payout ratio (DPR) is currently 41.97%.
Amgen declared that its Board of Directors has approved a stock buyback program on Thursday, February 1st that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the medical research company to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.
A number of equities research analysts have commented on the company. Leerink Swann restated a “market perform” rating on shares of Amgen in a research report on Friday, February 2nd. Atlantic Securities lowered Amgen from an “overweight” rating to a “neutral” rating and set a $187.01 price objective for the company. in a research report on Monday, February 5th. BidaskClub upgraded Amgen from a “sell” rating to a “hold” rating in a report on Thursday, January 18th. Oppenheimer set a $205.00 price target on Amgen and gave the company a “buy” rating in a report on Friday, January 5th. Finally, Credit Suisse Group lifted their price target on Amgen from $191.00 to $194.00 and gave the company a “neutral” rating in a report on Friday, February 2nd. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and eleven have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $190.57.
In related news, EVP Sean E. Harper sold 1,525 shares of the business’s stock in a transaction that occurred on Friday, March 16th. The stock was sold at an average price of $189.75, for a total value of $289,368.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders sold 4,575 shares of company stock valued at $838,064. Corporate insiders own 0.19% of the company’s stock.
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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