Valeo Financial Advisors LLC Increases Stake in Amgen, Inc. (NASDAQ:AMGN)

Valeo Financial Advisors LLC increased its stake in Amgen, Inc. (NASDAQ:AMGN) by 3.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,952 shares of the medical research company’s stock after purchasing an additional 440 shares during the period. Valeo Financial Advisors LLC’s holdings in Amgen were worth $3,604,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in AMGN. Savior LLC purchased a new stake in shares of Amgen during the fourth quarter valued at $34,000. Balentine LLC increased its position in shares of Amgen by 36.1% in the 3rd quarter. Balentine LLC now owns 181 shares of the medical research company’s stock valued at $35,000 after acquiring an additional 48 shares during the period. Belmont Capital LLC purchased a new position in Amgen in the 4th quarter worth $36,000. Atwater Malick LLC purchased a new position in Amgen in the 3rd quarter worth $39,000. Finally, Strategic Blueprint LLC acquired a new stake in Amgen during the 3rd quarter worth about $45,000. Institutional investors own 76.78% of the company’s stock.

Amgen stock traded down $10.00 during midday trading on Friday, hitting $225.04. 4,043,742 shares of the company were exchanged, compared to its average volume of 1,701,919. The firm has a market capitalization of $140.67 billion, a PE ratio of 17.27, a price-to-earnings-growth ratio of 2.05 and a beta of 1.11. Amgen, Inc. has a fifty-two week low of $166.30 and a fifty-two week high of $244.99. The business has a fifty day simple moving average of $239.17 and a two-hundred day simple moving average of $210.94. The company has a debt-to-equity ratio of 2.54, a quick ratio of 2.59 and a current ratio of 2.89.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, October 29th. The medical research company reported $3.66 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.53 by $0.13. The business had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.63 billion. Amgen had a return on equity of 80.26% and a net margin of 34.48%. The business’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.69 EPS. As a group, equities analysts expect that Amgen, Inc. will post 14.64 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 14th will be issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 2.84%. This is a positive change from Amgen’s previous quarterly dividend of $1.45. The ex-dividend date is Thursday, February 13th. Amgen’s payout ratio is 40.28%.

In related news, CFO David W. Meline sold 8,737 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $234.36, for a total transaction of $2,047,603.32. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Jonathan P. Graham sold 9,000 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $230.54, for a total transaction of $2,074,860.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,162 shares of company stock valued at $4,214,030. Company insiders own 0.25% of the company’s stock.

Several analysts have weighed in on AMGN shares. SunTrust Banks began coverage on Amgen in a research note on Tuesday, November 12th. They set a “buy” rating and a $256.00 price target on the stock. Sanford C. Bernstein started coverage on Amgen in a research note on Monday, October 14th. They issued an “outperform” rating for the company. Leerink Swann lifted their target price on Amgen from $189.00 to $205.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. Morgan Stanley decreased their target price on Amgen from $280.00 to $277.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Finally, Bank of America began coverage on Amgen in a research report on Wednesday, October 16th. They issued a “neutral” rating and a $215.00 target price on the stock. Twelve analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Amgen presently has an average rating of “Buy” and an average target price of $240.11.

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, 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.

Further Reading: Treasury Bonds

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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