Busey Wealth Management grew its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 9.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 66,040 shares of the medical research company’s stock after buying an additional 5,788 shares during the period. Busey Wealth Management’s holdings in Amgen were worth $16,432,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently added to or reduced their stakes in the company. SevenBridge Financial Group LLC grew its holdings in shares of Amgen by 0.4% in the first quarter. SevenBridge Financial Group LLC now owns 17,163 shares of the medical research company’s stock valued at $4,270,000 after purchasing an additional 64 shares in the last quarter. Eagle Ridge Investment Management grew its holdings in shares of Amgen by 9.5% in the first quarter. Eagle Ridge Investment Management now owns 1,679 shares of the medical research company’s stock valued at $418,000 after purchasing an additional 145 shares in the last quarter. IFG Advisory LLC grew its holdings in shares of Amgen by 3.2% in the first quarter. IFG Advisory LLC now owns 13,237 shares of the medical research company’s stock valued at $3,293,000 after purchasing an additional 410 shares in the last quarter. Capital Wealth Planning LLC boosted its stake in Amgen by 17.6% during the first quarter. Capital Wealth Planning LLC now owns 340,203 shares of the medical research company’s stock worth $84,645,000 after buying an additional 51,007 shares during the period. Finally, Covenant Asset Management LLC boosted its stake in Amgen by 2.8% during the first quarter. Covenant Asset Management LLC now owns 4,712 shares of the medical research company’s stock worth $1,172,000 after buying an additional 128 shares during the period. Hedge funds and other institutional investors own 75.23% of the company’s stock.
In other news, Director Ronald D. Sugar sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 10th. The stock was sold at an average price of $231.53, for a total transaction of $231,530.00. Following the completion of the transaction, the director now directly owns 16,805 shares of the company’s stock, valued at approximately $3,890,861.65. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Jonathan P. Graham sold 11,110 shares of the company’s stock in a transaction that occurred on Thursday, February 4th. The stock was sold at an average price of $236.51, for a total value of $2,627,626.10. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,360 shares of company stock worth $3,407,034. Insiders own 0.36% of the company’s stock.
Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Monday, February 1st. The medical research company reported $3.81 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.39 by $0.42. Amgen had a return on equity of 95.55% and a net margin of 29.42%. The business had revenue of $6.63 billion for the quarter, compared to analyst estimates of $6.57 billion. During the same quarter in the prior year, the firm posted $3.64 EPS. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. On average, equities research analysts forecast that Amgen Inc. will post 16.15 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 8th. Shareholders of record on Monday, May 17th will be given a $1.76 dividend. The ex-dividend date of this dividend is Friday, May 14th. This represents a $7.04 annualized dividend and a yield of 2.73%. Amgen’s dividend payout ratio is presently 47.50%.
Several research analysts have commented on AMGN shares. JPMorgan Chase & Co. set a $222.00 price objective on shares of Amgen and gave the stock a “neutral” rating in a research note on Thursday, March 4th. Cantor Fitzgerald lifted their target price on Amgen from $280.00 to $295.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 3rd. Credit Suisse Group decreased their target price on Amgen from $280.00 to $265.00 and set an “outperform” rating for the company in a research report on Wednesday, February 3rd. The Goldman Sachs Group set a $277.00 price objective on Amgen and gave the company a “buy” rating in a report on Thursday, March 4th. Finally, Oppenheimer lifted their price objective on Amgen from $266.00 to $275.00 in a report on Monday, April 5th. Nine research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $261.14.
Amgen Company Profile
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta that reduces the chance of infection due a low white blood cell count in patients cancer; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with BehÃ§et's disease; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; and Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization.
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