Executive Wealth Management LLC boosted its position in shares of Amgen, Inc. (NASDAQ:AMGN) by 12.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,815 shares of the medical research company’s stock after acquiring an additional 754 shares during the quarter. Executive Wealth Management LLC’s holdings in Amgen were worth $1,256,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital Financial Planning LLC bought a new stake in Amgen during the fourth quarter worth $27,000. Arbor Wealth Management LLC raised its position in Amgen by 154.5% during the second quarter. Arbor Wealth Management LLC now owns 168 shares of the medical research company’s stock worth $31,000 after acquiring an additional 102 shares in the last quarter. Clarfeld Financial Advisors LLC bought a new stake in Amgen during the fourth quarter worth $41,000. C J Advisory Inc bought a new stake in Amgen during the first quarter worth $40,000. Finally, Ashburton Jersey Ltd bought a new stake in Amgen during the second quarter worth $42,000. 78.96% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ:AMGN opened at $206.12 on Wednesday. Amgen, Inc. has a one year low of $166.30 and a one year high of $211.90. The firm has a market capitalization of $117.69 billion, a P/E ratio of 14.31, a P/E/G ratio of 2.30 and a beta of 1.19. The company has a fifty day moving average of $182.89. The company has a debt-to-equity ratio of 2.58, a quick ratio of 2.60 and a current ratio of 2.89.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Thursday, August 15th will be paid a $1.45 dividend. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $5.80 annualized dividend and a dividend yield of 2.81%. Amgen’s dividend payout ratio (DPR) is presently 40.28%.
In related news, Director Ronald D. Sugar sold 2,000 shares of the company’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $175.68, for a total value of $351,360.00. Following the transaction, the director now directly owns 16,219 shares in the company, valued at $2,849,353.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director R Sanders Williams sold 425 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $183.04, for a total transaction of $77,792.00. Following the completion of the transaction, the director now owns 16,336 shares in the company, valued at $2,990,141.44. The disclosure for this sale can be found here. Insiders sold 4,425 shares of company stock worth $804,312 over the last 90 days. 0.25% of the stock is currently owned by corporate insiders.
Several analysts have issued reports on AMGN shares. Citigroup raised shares of Amgen from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $211.00 to $205.00 in a research report on Wednesday, May 22nd. Morgan Stanley dropped their price target on shares of Amgen from $211.00 to $207.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Wells Fargo & Co upped their price target on shares of Amgen from $197.00 to $202.00 and gave the stock a “market perform” rating in a research report on Monday. Credit Suisse Group initiated coverage on shares of Amgen in a research report on Monday, May 20th. They set an “outperform” rating and a $208.00 price target on the stock. Finally, Cowen reiterated a “buy” rating and issued a $229.00 price objective on shares of Amgen in a report on Wednesday, May 1st. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $211.78.
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, and neuroscience. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Aranesp to treat anemia; Xgeva for skeletal-related events prevention; Sensipar/Mimpara products to treat sHPT in chronic kidney disease; and EPOGEN to treat a lower-than-normal number of red blood cells.
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