GW&K Investment Management LLC boosted its holdings in shares of Amgen, Inc. (NASDAQ:AMGN) by 0.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 196,818 shares of the medical research company’s stock after acquiring an additional 662 shares during the period. GW&K Investment Management LLC’s holdings in Amgen were worth $38,086,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Lincoln Capital Corp raised its holdings in Amgen by 3.6% during the third quarter. Lincoln Capital Corp now owns 22,248 shares of the medical research company’s stock worth $4,305,000 after buying an additional 765 shares during the last quarter. Parkside Financial Bank & Trust raised its holdings in Amgen by 2.6% during the third quarter. Parkside Financial Bank & Trust now owns 1,883 shares of the medical research company’s stock worth $364,000 after buying an additional 47 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in Amgen by 4.0% during the third quarter. Benjamin F. Edwards & Company Inc. now owns 22,066 shares of the medical research company’s stock worth $4,270,000 after buying an additional 854 shares during the last quarter. Taylor Hoffman Wealth Management raised its holdings in Amgen by 21.5% during the third quarter. Taylor Hoffman Wealth Management now owns 1,890 shares of the medical research company’s stock worth $366,000 after buying an additional 334 shares during the last quarter. Finally, Lenox Wealth Management Inc. raised its holdings in Amgen by 27.0% during the third quarter. Lenox Wealth Management Inc. now owns 409 shares of the medical research company’s stock worth $79,000 after buying an additional 87 shares during the last quarter. Hedge funds and other institutional investors own 76.33% of the company’s stock.
Several research analysts have weighed in on AMGN shares. BidaskClub upgraded shares of Amgen from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Mizuho reiterated a “hold” rating and issued a $212.00 target price on shares of Amgen in a research note on Sunday, September 29th. Cowen set a $231.00 target price on shares of Amgen and gave the stock a “buy” rating in a research note on Sunday, September 29th. Bank of America began coverage on shares of Amgen in a research note on Wednesday, October 16th. They issued a “neutral” rating and a $215.00 target price for the company. Finally, William Blair reiterated a “hold” rating on shares of Amgen in a research note on Friday, August 30th. Ten research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $219.56.
Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, October 29th. The medical research company reported $3.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.53 by $0.13. Amgen had a net margin of 34.48% and a return on equity of 80.26%. The firm had revenue of $5.74 billion for the quarter, compared to the consensus estimate of $5.63 billion. During the same period in the prior year, the firm posted $3.69 earnings per share. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. On average, equities analysts expect that Amgen, Inc. will post 14.44 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be issued a $1.45 dividend. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date is Thursday, November 14th. Amgen’s payout ratio is 40.28%.
In related news, SVP Cynthia M. Patton sold 13,426 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $208.07, for a total value of $2,793,547.82. Following the sale, the senior vice president now directly owns 32,648 shares of the company’s stock, valued at $6,793,069.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ronald D. Sugar sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $193.58, for a total transaction of $387,160.00. Following the completion of the sale, the director now directly owns 16,436 shares in the company, valued at $3,181,680.88. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,851 shares of company stock worth $3,685,674. 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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