Intact Investment Management Inc. grew its holdings in Amgen (NASDAQ:AMGN) by 2,737.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,400 shares of the medical research company’s stock after purchasing an additional 43,800 shares during the period. Intact Investment Management Inc.’s holdings in Amgen were worth $7,739,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. Barrow Hanley Mewhinney & Strauss LLC increased its stake in shares of Amgen by 110.7% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 647 shares of the medical research company’s stock valued at $113,000 after buying an additional 340 shares during the period. Taylor Hoffman Wealth Management purchased a new position in shares of Amgen during the fourth quarter valued at $127,000. Welch Group LLC purchased a new position in shares of Amgen during the fourth quarter valued at $148,000. Watermark Asset Management Inc. increased its stake in shares of Amgen by 8,481.8% during the fourth quarter. Watermark Asset Management Inc. now owns 944 shares of the medical research company’s stock valued at $164,000 after buying an additional 933 shares during the period. Finally, Trustcore Financial Services LLC purchased a new position in shares of Amgen during the fourth quarter valued at $183,000. Institutional investors and hedge funds own 78.43% of the company’s stock.
Get Amgen alerts:Shares of Amgen opened at $178.24 on Friday, according to MarketBeat. The company has a debt-to-equity ratio of 2.14, a current ratio of 3.88 and a quick ratio of 3.60. The stock has a market capitalization of $117.76 billion, a price-to-earnings ratio of 14.17, a price-to-earnings-growth ratio of 2.21 and a beta of 1.36. Amgen has a fifty-two week low of $153.56 and a fifty-two week high of $201.23.
Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, April 24th. The medical research company reported $3.47 earnings per share for the quarter, topping the consensus estimate of $3.24 by $0.23. The business had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $5.44 billion. Amgen had a return on equity of 35.80% and a net margin of 9.67%. The company’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter last year, the company earned $3.15 earnings per share. equities analysts anticipate that Amgen will post 13.63 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 8th. Shareholders of record on Thursday, May 17th will be issued a $1.32 dividend. This represents a $5.28 annualized dividend and a yield of 2.96%. The ex-dividend date of this dividend is Wednesday, May 16th. Amgen’s dividend payout ratio is presently 41.97%.
Amgen announced that its Board of Directors has authorized a stock repurchase program on Thursday, February 1st that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the medical research company to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.
AMGN has been the topic of several research reports. Oppenheimer restated a “buy” rating and set a $205.00 price target on shares of Amgen in a research note on Tuesday, January 30th. Mizuho restated a “buy” rating and set a $192.00 price target on shares of Amgen in a research note on Thursday, February 1st. Piper Jaffray Companies cut their price target on Amgen from $194.00 to $190.00 and set an “overweight” rating on the stock in a research note on Friday, February 2nd. Morgan Stanley cut their price target on Amgen from $204.00 to $196.00 and set an “overweight” rating on the stock in a research note on Friday, February 2nd. Finally, BMO Capital Markets raised their price target on Amgen from $192.00 to $202.00 and gave the company a “market perform” rating in a research note on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and ten have given a buy rating to the stock. Amgen presently has an average rating of “Hold” and an average target price of $191.70.
In other Amgen news, EVP Sean E. Harper sold 1,525 shares of the firm’s stock in a transaction dated Thursday, April 12th. The stock was sold at an average price of $172.68, for a total value of $263,337.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders sold 4,575 shares of company stock valued at $818,208. Corporate insiders own 0.19% of the company’s stock.
Amgen Company Profile
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, nephrology, and neuroscience. The company's products include Evenity to treat osteoporosis in postmenopausal women; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Repatha to treat coronary diseases; Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Parsabiv to treat secondary hyperparathyroidism (sHPT); and Aimovig for the prevention of migraine.
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