Stone Ridge Asset Management LLC acquired a new position in Amgen, Inc. (NASDAQ:AMGN) during the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 16,000 shares of the medical research company’s stock, valued at approximately $2,948,000.
Other institutional investors have also added to or reduced their stakes in the company. Advisors Preferred LLC purchased a new position in shares of Amgen during the 2nd quarter worth about $30,000. Arbor Wealth Management LLC lifted its holdings in shares of Amgen by 154.5% during the 2nd quarter. Arbor Wealth Management LLC now owns 168 shares of the medical research company’s stock worth $31,000 after acquiring an additional 102 shares during the period. C J Advisory Inc purchased a new position in shares of Amgen during the 1st quarter worth about $40,000. Ashburton Jersey Ltd purchased a new position in shares of Amgen during the 2nd quarter worth about $42,000. Finally, Sound Income Strategies LLC lifted its holdings in shares of Amgen by 402.1% during the 2nd quarter. Sound Income Strategies LLC now owns 236 shares of the medical research company’s stock worth $43,000 after acquiring an additional 189 shares during the period. Institutional investors and hedge funds own 78.01% of the company’s stock.
AMGN traded down $4.34 on Friday, reaching $199.08. 2,734,319 shares of the company’s stock were exchanged, compared to its average volume of 3,954,342. The company’s 50 day moving average is $186.41 and its 200-day moving average is $183.47. The company has a market cap of $121.99 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 2.45 and a beta of 1.19. Amgen, Inc. has a twelve month low of $166.30 and a twelve month high of $211.90. The company has a debt-to-equity ratio of 2.58, a quick ratio of 2.60 and a current ratio of 2.89.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Thursday, August 15th will be given a $1.45 dividend. This represents a $5.80 annualized dividend and a yield of 2.91%. The ex-dividend date is Wednesday, August 14th. Amgen’s dividend payout ratio (DPR) is 40.28%.
In other Amgen news, Director R Sanders Williams sold 425 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $183.04, for a total value of $77,792.00. Following the completion of the sale, the director now owns 16,336 shares of the company’s stock, valued at $2,990,141.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ronald D. Sugar sold 2,000 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $175.68, for a total transaction of $351,360.00. Following the completion of the sale, the director now directly owns 16,219 shares of the company’s stock, valued at approximately $2,849,353.92. The disclosure for this sale can be found here. Insiders sold 4,425 shares of company stock valued at $804,312 in the last ninety days. 0.25% of the stock is owned by corporate insiders.
Several research analysts have recently weighed in on the stock. Citigroup reiterated a “buy” rating on shares of Amgen in a report on Monday, August 12th. Morgan Stanley cut their price objective on shares of Amgen from $211.00 to $207.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Oppenheimer increased their price objective on shares of Amgen from $210.00 to $230.00 and gave the stock an “outperform” rating in a report on Tuesday, August 13th. Piper Jaffray Companies set a $210.00 price objective on shares of Amgen and gave the stock a “buy” rating in a report on Saturday, August 10th. Finally, BidaskClub upgraded shares of Amgen from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Ten investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $212.94.
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, and neuroscience. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Aranesp to treat anemia; Xgeva for skeletal-related events prevention; Sensipar/Mimpara products to treat sHPT in chronic kidney disease; and EPOGEN to treat a lower-than-normal number of red blood cells.
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