Nuveen Asset Management LLC reduced its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 34.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,423,275 shares of the medical research company's stock after selling 1,257,138 shares during the period. Nuveen Asset Management LLC owned 0.45% of Amgen worth $631,602,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently made changes to their positions in the stock. Capital World Investors lifted its stake in Amgen by 1,292.0% during the fourth quarter. Capital World Investors now owns 6,495,710 shares of the medical research company's stock valued at $1,693,042,000 after purchasing an additional 6,029,058 shares during the last quarter. Norges Bank acquired a new stake in Amgen during the fourth quarter valued at approximately $1,541,991,000. Capital International Investors lifted its stake in Amgen by 40.1% during the fourth quarter. Capital International Investors now owns 12,212,065 shares of the medical research company's stock valued at $3,182,843,000 after purchasing an additional 3,495,503 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Amgen by 25.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,205,604 shares of the medical research company's stock valued at $3,441,909,000 after purchasing an additional 2,672,975 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Amgen during the fourth quarter valued at approximately $401,913,000. 76.50% of the stock is owned by institutional investors and hedge funds.
Amgen Stock Up 0.3%
AMGN stock traded up $0.72 during trading hours on Friday, hitting $272.41. The company's stock had a trading volume of 2,588,369 shares, compared to its average volume of 2,789,152. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62. The company has a market capitalization of $146.48 billion, a PE ratio of 36.08, a price-to-earnings-growth ratio of 2.63 and a beta of 0.51. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The stock has a 50 day moving average price of $291.00 and a two-hundred day moving average price of $288.28.
Amgen (NASDAQ:AMGN - Get Free Report) last posted its earnings results on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, topping the consensus estimate of $4.18 by $0.72. The company had revenue of $8.15 billion during the quarter, compared to the consensus estimate of $8.05 billion. Amgen had a net margin of 12.24% and a return on equity of 176.32%. The company's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.96 earnings per share. On average, equities research analysts expect that Amgen Inc. will post 20.62 earnings per share for the current year.
Amgen Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be given a $2.38 dividend. This represents a $9.52 annualized dividend and a yield of 3.49%. The ex-dividend date is Friday, May 16th. Amgen's dividend payout ratio is 86.86%.
Analyst Ratings Changes
Several research firms recently commented on AMGN. Cantor Fitzgerald assumed coverage on shares of Amgen in a research note on Tuesday, April 22nd. They set a "neutral" rating and a $305.00 target price for the company. Morgan Stanley restated an "equal weight" rating on shares of Amgen in a report on Friday, May 2nd. Citigroup restated a "neutral" rating on shares of Amgen in a report on Wednesday, February 5th. Bank of America boosted their price target on shares of Amgen from $275.00 to $294.00 and gave the company an "underperform" rating in a report on Wednesday, March 5th. Finally, Johnson Rice set a $294.00 price target on shares of Amgen in a report on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $310.18.
Read Our Latest Analysis on Amgen
Insiders Place Their Bets
In related news, EVP David M. Reese sold 25,225 shares of the company's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $304.44, for a total transaction of $7,679,499.00. Following the completion of the sale, the executive vice president now directly owns 36,922 shares of the company's stock, valued at approximately $11,240,533.68. This represents a 40.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.76% of the company's stock.
Amgen 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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