State of Tennessee Treasury Department boosted its holdings in Amgen, Inc. (NASDAQ:AMGN) by 104.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 788,258 shares of the medical research company’s stock after buying an additional 401,896 shares during the period. Amgen accounts for approximately 0.6% of State of Tennessee Treasury Department’s holdings, making the stock its 28th largest holding. State of Tennessee Treasury Department owned approximately 0.11% of Amgen worth $137,078,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of AMGN. Baker Ellis Asset Management LLC purchased a new position in shares of Amgen in the 3rd quarter worth about $108,000. Phocas Financial Corp. purchased a new position in shares of Amgen in the 2nd quarter worth about $110,000. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in shares of Amgen by 110.7% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 647 shares of the medical research company’s stock worth $113,000 after purchasing an additional 340 shares during the period. Taylor Hoffman Wealth Management purchased a new position in shares of Amgen in the 4th quarter worth about $127,000. Finally, Salem Investment Counselors Inc. raised its holdings 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 worth $139,000 after purchasing an additional 36 shares during the period. 79.53% of the stock is currently owned by hedge funds and other institutional investors.
In other Amgen news, EVP Sean E. Harper sold 1,525 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $174.18, for a total transaction of $265,624.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders have sold 4,575 shares of company stock valued at $838,064. 0.19% of the stock is owned by insiders.
Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Thursday, February 1st. The medical research company reported $2.89 earnings per share for the quarter, missing analysts’ consensus estimates of $3.03 by ($0.14). Amgen had a net margin of 8.66% and a return on equity of 30.87%. The business had revenue of $5.80 billion for the quarter, compared to analyst estimates of $5.84 billion. During the same quarter last year, the business earned $2.89 EPS. Amgen’s revenue for the quarter was down 2.7% compared to the same quarter last year. equities analysts expect that Amgen, Inc. will post 13.25 earnings per share for the current fiscal year.
Amgen announced that its Board of Directors has authorized a share repurchase plan on Thursday, February 1st that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the medical research company to reacquire shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 8th. Shareholders of record on Thursday, May 17th will be paid a dividend of $1.32 per share. The ex-dividend date is Wednesday, May 16th. This represents a $5.28 dividend on an annualized basis and a yield of 3.14%. Amgen’s dividend payout ratio (DPR) is presently 41.97%.
A number of equities analysts have recently commented on the company. ValuEngine downgraded Amgen from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Barclays cut their price objective on Amgen from $190.00 to $180.00 and set an “equal weight” rating on the stock in a report on Thursday. Zacks Investment Research upgraded Amgen from a “hold” rating to a “buy” rating and set a $194.00 price objective on the stock in a report on Thursday. Oppenheimer set a $205.00 price objective on Amgen and gave the stock a “buy” rating in a report on Friday, January 5th. Finally, BidaskClub downgraded Amgen from a “hold” rating to a “sell” rating in a report on Saturday, March 24th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and eleven have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $190.57.
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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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