Reliance Trust Co. of Delaware cut its stake in Amgen (NASDAQ:AMGN) by 3.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,467 shares of the medical research company’s stock after selling 376 shares during the quarter. Reliance Trust Co. of Delaware’s holdings in Amgen were worth $1,647,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in AMGN. Baker Ellis Asset Management LLC purchased a new stake in shares of Amgen in the third quarter valued at approximately $108,000. Phocas Financial Corp. purchased a new stake in shares of Amgen in the second quarter valued at approximately $110,000. Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of Amgen by 110.7% in 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 in the last quarter. Taylor Hoffman Wealth Management purchased a new stake in shares of Amgen in the fourth quarter valued at approximately $127,000. Finally, Horan Capital Advisors LLC. purchased a new stake in shares of Amgen in the third quarter valued at approximately $150,000. 79.55% of the stock is owned by institutional investors.
A number of analysts have recently commented on the company. Mizuho boosted their price objective on Amgen from $192.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, February 12th. Leerink Swann restated a “market perform” rating on shares of Amgen in a research report on Friday, February 2nd. Morgan Stanley cut their price objective on Amgen from $204.00 to $196.00 and set an “overweight” rating for the company in a research report on Friday, February 2nd. TheStreet cut Amgen from a “b-” rating to a “c+” rating in a research report on Wednesday. Finally, BMO Capital Markets boosted their price objective on Amgen from $192.00 to $202.00 and gave the company a “market perform” rating in a research report on Friday, February 2nd. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eleven have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $190.57.
Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Thursday, February 1st. The medical research company reported $2.89 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.03 by ($0.14). The company had revenue of $5.80 billion for the quarter, compared to analyst estimates of $5.84 billion. Amgen had a return on equity of 30.87% and a net margin of 8.66%. The business’s quarterly revenue was down 2.7% on a year-over-year basis. During the same period last year, the firm posted $2.89 EPS. equities analysts predict that Amgen will post 13.24 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 8th. Shareholders of record on Thursday, May 17th will be paid a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date of this dividend is Wednesday, May 16th. Amgen’s dividend payout ratio (DPR) is currently 41.97%.
Amgen declared that its board has authorized a share buyback program on Thursday, February 1st that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the medical research company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.
In other Amgen news, EVP Sean E. Harper sold 1,525 shares of the business’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $174.18, for a total transaction of $265,624.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have sold 4,575 shares of company stock worth $838,064 in the last three months. 0.19% of the stock is currently owned by corporate insiders.
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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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