Amica Mutual Insurance Co. trimmed its holdings in Amgen, Inc. (NASDAQ:AMGN) by 15.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 35,770 shares of the medical research company’s stock after selling 6,509 shares during the quarter. Amica Mutual Insurance Co.’s holdings in Amgen were worth $6,220,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Baker Ellis Asset Management LLC bought a new stake in Amgen during the 3rd quarter valued at $108,000. Phocas Financial Corp. bought a new stake in Amgen during the 2nd quarter valued at $110,000. Barrow Hanley Mewhinney & Strauss LLC boosted its position in Amgen by 110.7% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 647 shares of the medical research company’s stock valued at $113,000 after acquiring an additional 340 shares in the last quarter. Taylor Hoffman Wealth Management bought a new stake in Amgen during the 4th quarter valued at $127,000. Finally, Salem Investment Counselors Inc. boosted its position in Amgen by 4.7% during the 2nd quarter. Salem Investment Counselors Inc. now owns 809 shares of the medical research company’s stock valued at $139,000 after acquiring an additional 36 shares in the last quarter. Hedge funds and other institutional investors own 79.53% of the company’s stock.
Several brokerages have issued reports on AMGN. ValuEngine cut Amgen from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. Barclays dropped their target price on Amgen from $190.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Thursday. Zacks Investment Research raised Amgen from a “hold” rating to a “buy” rating and set a $194.00 target price on the stock in a research report on Thursday. Oppenheimer set a $205.00 target price on Amgen and gave the company a “buy” rating in a research report on Friday, January 5th. Finally, BidaskClub cut Amgen from a “hold” rating to a “sell” rating in a research report on Saturday, March 24th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and eleven have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $190.57.
Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Thursday, February 1st. The medical research company reported $2.89 EPS for the quarter, missing the consensus estimate 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 analysts’ expectations of $5.84 billion. During the same quarter in the prior year, the company posted $2.89 EPS. The business’s revenue for the quarter was down 2.7% on a year-over-year basis. analysts forecast that Amgen, Inc. will post 13.25 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 8th. Investors 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 yield of 3.14%. Amgen’s dividend payout ratio (DPR) is 41.97%.
Amgen declared that its Board of Directors has initiated a share buyback program on Thursday, February 1st that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the medical research company to reacquire shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
In related news, EVP Sean E. Harper sold 1,525 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $174.18, for a total value of $265,624.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 4,575 shares of company stock valued at $838,064 in the last 90 days. 0.19% of the stock is currently owned by company insiders.
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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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