Zurich Insurance Group Ltd FI reduced its stake in Amgen, Inc. (NASDAQ:AMGN) by 13.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 114,655 shares of the medical research company’s stock after selling 17,295 shares during the period. Zurich Insurance Group Ltd FI’s holdings in Amgen were worth $21,129,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Gifford Fong Associates grew its stake in Amgen by 25.3% in the 2nd quarter. Gifford Fong Associates now owns 67,671 shares of the medical research company’s stock worth $12,470,000 after acquiring an additional 13,671 shares in the last quarter. Bray Capital Advisors lifted its position in shares of Amgen by 11.6% in the 2nd quarter. Bray Capital Advisors now owns 19,676 shares of the medical research company’s stock worth $3,626,000 after purchasing an additional 2,045 shares during the period. Weaver Consulting Group purchased a new stake in shares of Amgen in the 1st quarter worth approximately $239,000. CHICAGO TRUST Co NA lifted its position in shares of Amgen by 2.8% in the 2nd quarter. CHICAGO TRUST Co NA now owns 3,716 shares of the medical research company’s stock worth $685,000 after purchasing an additional 100 shares during the period. Finally, Private Advisor Group LLC lifted its position in shares of Amgen by 4.0% in the 2nd quarter. Private Advisor Group LLC now owns 38,488 shares of the medical research company’s stock worth $7,093,000 after purchasing an additional 1,494 shares during the period. Institutional investors and hedge funds own 76.24% of the company’s stock.
Several brokerages have recently weighed in on AMGN. JPMorgan Chase & Co. set a $198.00 price target on shares of Amgen and gave the stock a “hold” rating in a research report on Friday, September 6th. Leerink Swann reaffirmed a “hold” rating on shares of Amgen in a research report on Thursday, September 12th. Wells Fargo & Co reaffirmed a “market perform” rating and issued a $220.00 price target (up previously from $202.00) on shares of Amgen in a research report on Tuesday, August 27th. They noted that the move was a valuation call. Piper Jaffray Companies upped their price target on shares of Amgen from $210.00 to $218.00 and gave the stock an “overweight” rating in a research report on Monday, August 26th. Finally, Morgan Stanley decreased their target price on shares of Amgen from $211.00 to $207.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have given a buy rating to the stock. Amgen presently has an average rating of “Hold” and an average price target of $217.33.
Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, July 30th. The medical research company reported $3.97 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.58 by $0.39. The business had revenue of $5.87 billion during the quarter, compared to analysts’ expectations of $5.67 billion. Amgen had a net margin of 33.78% and a return on equity of 76.17%. The business’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter last year, the company posted $3.83 earnings per share. Analysts predict that Amgen, Inc. will post 14.3 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Thursday, August 15th were paid a $1.45 dividend. The ex-dividend date was Wednesday, August 14th. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.92%. Amgen’s payout ratio is currently 40.28%.
In related news, Director Ronald D. Sugar sold 2,000 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $187.58, for a total transaction of $375,160.00. Following the sale, the director now owns 16,336 shares in the company, valued at $3,064,306.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Cynthia M. Patton sold 13,426 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $208.07, for a total transaction of $2,793,547.82. Following the sale, the senior vice president now owns 32,648 shares in the company, valued at approximately $6,793,069.36. The disclosure for this sale can be found here. Insiders sold 17,851 shares of company stock worth $3,659,900 in the last quarter. Company insiders own 0.25% of the company’s stock.
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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