Sei Investments Co. Has $105.13 Million Stock Holdings in Amgen Inc. $AMGN

Key Points

• Sei Investments Co. increased its position in Amgen Inc. by 1.3% during the first quarter, holding a total of 337,442 shares, which now constitutes 1.0% of its portfolio.
• Amgen recently reported earnings of $6.02 per share, exceeding estimates and showing a revenue increase of 9.4% year-over-year, amounting to $9.18 billion for the quarter.
• The company announced a quarterly dividend of $2.38 per share with a 3.3% yield, set to be paid out on September 12th.

Sei Investments Co. grew its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 1.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 337,442 shares of the medical research company's stock after purchasing an additional 4,282 shares during the period. Amgen comprises about 1.0% of Sei Investments Co.'s holdings, making the stock its 22nd biggest holding. Sei Investments Co. owned 0.06% of Amgen worth $105,130,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also made changes to their positions in the company. KPP Advisory Services LLC lifted its position in shares of Amgen by 87.1% in the first quarter. KPP Advisory Services LLC now owns 5,833 shares of the medical research company's stock worth $1,817,000 after buying an additional 2,716 shares during the last quarter. Advisor Resource Council acquired a new position in Amgen during the 1st quarter valued at $1,331,000. DLK Investment Management LLC increased its stake in Amgen by 7.3% during the first quarter. DLK Investment Management LLC now owns 20,491 shares of the medical research company's stock valued at $6,384,000 after acquiring an additional 1,387 shares during the period. Founders Financial Alliance LLC lifted its position in shares of Amgen by 2.7% in the 1st quarter. Founders Financial Alliance LLC now owns 1,577 shares of the medical research company's stock worth $491,000 after acquiring an additional 42 shares during the period. Finally, Stratos Investment Management LLC grew its holdings in shares of Amgen by 24.8% during the 1st quarter. Stratos Investment Management LLC now owns 21,382 shares of the medical research company's stock worth $6,662,000 after purchasing an additional 4,252 shares in the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on AMGN shares. Guggenheim started coverage on Amgen in a report on Tuesday, May 20th. They issued a "neutral" rating and a $288.00 target price on the stock. UBS Group decreased their target price on Amgen from $326.00 to $317.00 and set a "neutral" rating on the stock in a report on Wednesday, August 6th. Morgan Stanley upped their price target on shares of Amgen from $330.00 to $333.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 6th. William Blair restated an "outperform" rating on shares of Amgen in a research report on Tuesday, June 24th. Finally, Royal Bank Of Canada reduced their target price on shares of Amgen from $324.00 to $320.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $303.76.

Amgen Stock Performance

Shares of AMGN stock traded down $3.85 during trading hours on Monday, reaching $292.62. 1,721,433 shares of the company traded hands, compared to its average volume of 2,868,880. The company has a market cap of $157.53 billion, a P/E ratio of 23.93, a P/E/G ratio of 2.55 and a beta of 0.49. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $339.17. The firm has a 50-day moving average price of $293.30 and a 200 day moving average price of $293.10. The company has a debt-to-equity ratio of 7.24, a current ratio of 1.31 and a quick ratio of 0.98.

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, beating 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 firm had revenue of $9.18 billion for the quarter, compared to analysts' expectations of $8.86 billion. During the same quarter in the prior year, the firm posted $4.97 earnings per share. The company's quarterly revenue was up 9.4% on a year-over-year basis. As a group, sell-side analysts predict that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 22nd will be paid 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 3.3%. Amgen's dividend payout ratio is 77.84%.

Insider Buying and Selling at Amgen

In related news, SVP Rachna Khosla sold 1,500 shares of the company's stock in a transaction on 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 directly 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.69% of the stock is currently owned by company insiders.

Amgen Profile

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.