Bayesian Capital Management LP purchased a new position in Amgen Inc. (NASDAQ:AMGN - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 43,000 shares of the medical research company's stock, valued at approximately $11,208,000. Amgen comprises about 1.4% of Bayesian Capital Management LP's holdings, making the stock its 2nd largest holding.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Franklin Resources Inc. boosted its stake in shares of Amgen by 3.7% in the 3rd quarter. Franklin Resources Inc. now owns 2,156,091 shares of the medical research company's stock valued at $699,910,000 after purchasing an additional 76,798 shares in the last quarter. Principal Financial Group Inc. boosted its position in Amgen by 6.0% during the third quarter. Principal Financial Group Inc. now owns 635,172 shares of the medical research company's stock valued at $204,659,000 after buying an additional 35,785 shares during the period. Versant Capital Management Inc grew its stake in shares of Amgen by 14.6% during the fourth quarter. Versant Capital Management Inc now owns 1,223 shares of the medical research company's stock valued at $319,000 after buying an additional 156 shares during the last quarter. Nordea Investment Management AB increased its holdings in shares of Amgen by 40.7% in the fourth quarter. Nordea Investment Management AB now owns 2,338,665 shares of the medical research company's stock worth $609,526,000 after buying an additional 676,598 shares during the period. Finally, Pensionfund Sabic lifted its stake in shares of Amgen by 44.6% in the 4th quarter. Pensionfund Sabic now owns 8,100 shares of the medical research company's stock valued at $2,111,000 after acquiring an additional 2,500 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company's stock.
Insider Buying and Selling
In other Amgen news, EVP Murdo Gordon sold 8,771 shares of the stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $294.79, for a total value of $2,585,603.09. Following the transaction, the executive vice president now owns 44,186 shares of the company's stock, valued at approximately $13,025,590.94. This represents a 16.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David M. Reese sold 8,711 shares of the business's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $293.22, for a total value of $2,554,239.42. Following the sale, the executive vice president now owns 62,147 shares of the company's stock, valued at approximately $18,222,743.34. This represents a 12.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 42,707 shares of company stock worth $12,819,342. 0.69% of the stock is owned by insiders.
Amgen Stock Down 1.2 %
Amgen stock traded down $3.31 during mid-day trading on Friday, reaching $268.74. The stock had a trading volume of 1,852,191 shares, compared to its average volume of 2,761,322. The company has a market capitalization of $144.49 billion, a price-to-earnings ratio of 35.59, a PEG ratio of 2.63 and a beta of 0.51. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85. The company has a 50-day moving average price of $297.00 and a two-hundred day moving average price of $290.23.
Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 earnings per share for the quarter, topping analysts' consensus estimates of $4.18 by $0.72. Amgen had a net margin of 12.24% and a return on equity of 176.32%. The company had revenue of $8.15 billion during the quarter, compared to analyst estimates of $8.05 billion. During the same period in the previous year, the business earned $3.96 EPS. The firm's revenue for the quarter was up 9.4% on a year-over-year basis. On average, analysts expect that Amgen Inc. will post 20.62 EPS for the current fiscal year.
Amgen Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be paid a $2.38 dividend. The ex-dividend date is Friday, May 16th. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.54%. Amgen's dividend payout ratio is presently 86.86%.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on AMGN. Johnson Rice set a $294.00 price target on Amgen in a research note on Wednesday, March 5th. Cantor Fitzgerald began coverage on shares of Amgen in a report on Tuesday, April 22nd. They issued a "neutral" rating and a $305.00 price target on the stock. UBS Group reaffirmed a "neutral" rating and set a $315.00 price objective (down from $319.00) on shares of Amgen in a research note on Friday, May 2nd. Bank of America raised their target price on Amgen from $275.00 to $294.00 and gave the stock an "underperform" rating in a research note on Wednesday, March 5th. Finally, StockNews.com raised Amgen from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 2nd. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $310.23.
Check Out Our Latest Stock Analysis on Amgen
Amgen Profile
(
Free Report)
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.
Further Reading
Before you consider Amgen, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Amgen wasn't on the list.
While Amgen currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
Get This Free Report
