SVA Plumb Wealth Management LLC grew its stake in shares of Amgen, Inc. (NASDAQ:AMGN) by 7.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 22,428 shares of the medical research company’s stock after purchasing an additional 1,504 shares during the period. SVA Plumb Wealth Management LLC’s holdings in Amgen were worth $4,649,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Amgen by 21.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 104,527 shares of the medical research company’s stock worth $21,711,000 after purchasing an additional 18,611 shares in the last quarter. Clarius Group LLC boosted its position in shares of Amgen by 96.4% during the 3rd quarter. Clarius Group LLC now owns 2,471 shares of the medical research company’s stock worth $512,000 after purchasing an additional 1,213 shares in the last quarter. Marathon Capital Management purchased a new stake in shares of Amgen during the 3rd quarter worth $207,000. Bridgeway Capital Management Inc. boosted its position in shares of Amgen by 2.5% during the 3rd quarter. Bridgeway Capital Management Inc. now owns 312,500 shares of the medical research company’s stock worth $64,778,000 after purchasing an additional 7,500 shares in the last quarter. Finally, Logan Capital Management Inc. boosted its position in shares of Amgen by 1.0% in the 3rd quarter. Logan Capital Management Inc. now owns 47,944 shares of the medical research company’s stock worth $9,938,000 after buying an additional 459 shares in the last quarter. Institutional investors own 76.94% of the company’s stock.
Several equities research analysts recently commented on AMGN shares. Cann reiterated a “buy” rating and issued a $224.00 price objective on shares of Amgen in a research report on Monday, October 1st. Jefferies Financial Group reiterated a “buy” rating and issued a $220.00 price objective on shares of Amgen in a research report on Monday, October 1st. Zacks Investment Research upgraded shares of Amgen from a “hold” rating to a “buy” rating and set a $234.00 price objective on the stock in a research report on Monday, October 1st. Oppenheimer reiterated a “buy” rating and issued a $224.00 price objective on shares of Amgen in a research report on Tuesday, August 28th. Finally, BidaskClub upgraded shares of Amgen from a “hold” rating to a “buy” rating in a research report on Wednesday, September 26th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $205.68.
Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, October 30th. The medical research company reported $3.69 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.45 by $0.24. The company had revenue of $5.90 billion for the quarter, compared to analyst estimates of $5.78 billion. Amgen had a net margin of 9.44% and a return on equity of 54.14%. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the firm earned $3.27 EPS. Analysts forecast that Amgen, Inc. will post 14.24 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 8th. Shareholders of record on Friday, February 15th will be issued a $1.45 dividend. This represents a $5.80 dividend on an annualized basis and a yield of 3.03%. This is a positive change from Amgen’s previous quarterly dividend of $1.32. Amgen’s dividend payout ratio is 41.97%.
In other Amgen news, SVP Cynthia M. Patton sold 1,777 shares of the company’s stock in a transaction dated Thursday, November 29th. The shares were sold at an average price of $202.88, for a total value of $360,517.76. Following the transaction, the senior vice president now directly owns 23,090 shares in the company, valued at approximately $4,684,499.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.19% of the stock is currently owned by corporate insiders.
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Amgen Company Profile
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, nephrology, and neuroscience. The company's products include Evenity to treat osteoporosis in postmenopausal women; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Repatha to treat coronary diseases; Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Parsabiv to treat secondary hyperparathyroidism (sHPT); and Aimovig for the prevention of migraine.
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