Rathbones Group PLC grew its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 11.0% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,959 shares of the medical research company's stock after acquiring an additional 1,285 shares during the period. Rathbones Group PLC's holdings in Amgen were worth $4,037,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. First Pacific Financial grew its holdings in Amgen by 304.5% in the first quarter. First Pacific Financial now owns 89 shares of the medical research company's stock worth $28,000 after purchasing an additional 67 shares during the last quarter. Pinney & Scofield Inc. acquired a new stake in shares of Amgen during the fourth quarter worth $26,000. Global Wealth Strategies & Associates lifted its stake in shares of Amgen by 1,388.9% during the first quarter. Global Wealth Strategies & Associates now owns 134 shares of the medical research company's stock worth $42,000 after buying an additional 125 shares during the period. Heck Capital Advisors LLC acquired a new stake in shares of Amgen during the fourth quarter worth $36,000. Finally, South Plains Financial Inc. acquired a new stake in shares of Amgen during the fourth quarter worth $37,000. 76.50% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Amgen
In related news, SVP Rachna Khosla sold 1,500 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $289.68, for a total transaction of $434,520.00. Following the completion of the sale, the senior vice president owned 8,162 shares of the company's stock, valued at approximately $2,364,368.16. This represents a 15.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.76% of the company's stock.
Analyst Ratings Changes
Several equities research analysts have recently commented on AMGN shares. UBS Group lowered their price objective on shares of Amgen from $326.00 to $317.00 and set a "neutral" rating for the company in a research note on Wednesday, August 6th. Guggenheim started coverage on shares of Amgen in a research note on Tuesday, May 20th. They set a "neutral" rating and a $288.00 price objective for the company. Morgan Stanley lifted their price objective on shares of Amgen from $330.00 to $333.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 6th. Mizuho lifted their price objective on shares of Amgen from $235.00 to $280.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Finally, Bank of America boosted their target price on shares of Amgen from $252.00 to $261.00 and gave the company an "underperform" rating in a research report on Wednesday, July 23rd. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $303.76.
Read Our Latest Report on AMGN
Amgen Price Performance
Shares of AMGN stock traded up $6.18 on Friday, reaching $296.47. 2,167,753 shares of the company were exchanged, compared to its average volume of 2,128,585. The company has a market cap of $159.61 billion, a price-to-earnings ratio of 24.24, a P/E/G ratio of 2.55 and a beta of 0.49. The business has a 50-day moving average price of $293.30 and a 200 day moving average price of $293.04. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $339.17.
Amgen (NASDAQ:AMGN - Get Free Report) last released its earnings results 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. The business had revenue of $9.18 billion during the quarter, compared to analysts' expectations of $8.86 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The company's quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.97 earnings per share. Equities research analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.
Amgen Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 22nd will be paid a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Friday, August 22nd. Amgen's dividend payout ratio is currently 77.84%.
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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