Gulf International Bank UK Ltd reduced its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 24.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 31,010 shares of the medical research company's stock after selling 10,271 shares during the quarter. Gulf International Bank UK Ltd's holdings in Amgen were worth $9,661,000 as of its most recent filing with the SEC.
Several other hedge funds have also modified their holdings of AMGN. Brighton Jones LLC raised its holdings in shares of Amgen by 23.5% during the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company's stock valued at $7,159,000 after buying an additional 5,226 shares during the period. CreativeOne Wealth LLC increased its holdings in Amgen by 26.4% during the 4th quarter. CreativeOne Wealth LLC now owns 13,132 shares of the medical research company's stock worth $3,423,000 after purchasing an additional 2,740 shares during the last quarter. Rossby Financial LCC purchased a new stake in Amgen during the 4th quarter worth approximately $235,000. Ontario Teachers Pension Plan Board increased its holdings in Amgen by 26.3% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 3,518 shares of the medical research company's stock worth $917,000 after purchasing an additional 732 shares during the last quarter. Finally, Anchor Investment Management LLC increased its holdings in Amgen by 6.6% during the 4th quarter. Anchor Investment Management LLC now owns 6,478 shares of the medical research company's stock worth $1,688,000 after purchasing an additional 400 shares during the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several equities research analysts have issued reports on AMGN shares. Mizuho lifted their price objective on Amgen from $235.00 to $280.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Cantor Fitzgerald restated a "neutral" rating and set a $305.00 price objective on shares of Amgen in a report on Tuesday, June 24th. Erste Group Bank downgraded Amgen from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 8th. William Blair restated an "outperform" rating on shares of Amgen in a report on Tuesday, June 24th. Finally, UBS Group dropped their price objective on Amgen from $326.00 to $317.00 and set a "neutral" rating on the stock in a report on Wednesday, August 6th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $303.76.
Read Our Latest Research Report on AMGN
Amgen Price Performance
Shares of AMGN traded up $6.18 during midday trading on Friday, reaching $296.47. The stock had a trading volume of 2,167,753 shares, compared to its average volume of 2,876,277. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $339.17. The company has a debt-to-equity ratio of 7.24, a current ratio of 1.31 and a quick ratio of 0.98. The firm's 50 day moving average price is $293.18 and its 200-day moving average price is $292.85. The company has a market capitalization of $159.61 billion, a P/E ratio of 24.24, a P/E/G ratio of 2.49 and a beta of 0.49.
Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, topping analysts' consensus estimates of $5.28 by $0.74. Amgen had a return on equity of 174.71% and a net margin of 18.96%. The company had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $8.86 billion. During the same quarter in the previous year, the business earned $4.97 EPS. The company's quarterly revenue was up 9.4% compared to the same quarter last year. On average, analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.
Amgen Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 22nd will be given a dividend of $2.38 per share. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.2%. Amgen's payout ratio is 77.84%.
Insider Activity
In other news, SVP Rachna Khosla sold 1,500 shares of the business's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total transaction of $434,520.00. Following the sale, the senior vice president directly owned 8,162 shares of the company's stock, valued at $2,364,368.16. The trade was a 15.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.76% of the stock is owned by company insiders.
Amgen Company Profile
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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.
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