Clear Harbor Asset Management LLC reduced its position in shares of Amgen, Inc. (NASDAQ:AMGN) by 6.9% in the 1st quarter, Holdings Channel reports. The firm owned 6,366 shares of the medical research company’s stock after selling 470 shares during the period. Clear Harbor Asset Management LLC’s holdings in Amgen were worth $1,209,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Commonwealth Bank of Australia lifted its position in Amgen by 19.7% in the fourth quarter. Commonwealth Bank of Australia now owns 66,961 shares of the medical research company’s stock valued at $13,027,000 after acquiring an additional 11,040 shares during the last quarter. UNIVEST FINANCIAL Corp lifted its position in Amgen by 1.5% in the fourth quarter. UNIVEST FINANCIAL Corp now owns 23,544 shares of the medical research company’s stock valued at $4,583,000 after acquiring an additional 355 shares during the last quarter. Phocas Financial Corp. purchased a new stake in Amgen in the fourth quarter valued at $117,000. Duality Advisers LP purchased a new stake in Amgen in the fourth quarter valued at $3,983,000. Finally, Congress Asset Management Co. MA lifted its position in Amgen by 0.8% in the fourth quarter. Congress Asset Management Co. MA now owns 40,627 shares of the medical research company’s stock valued at $7,909,000 after acquiring an additional 311 shares during the last quarter. 78.01% of the stock is owned by institutional investors and hedge funds.
In other news, Director Ronald D. Sugar sold 2,000 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $188.88, for a total value of $377,760.00. Following the completion of the sale, the director now directly owns 14,988 shares of the company’s stock, valued at $2,830,933.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 6,000 shares of company stock valued at $1,115,580 over the last ninety days. Corporate insiders own 0.25% of the company’s stock.
Shares of NASDAQ:AMGN opened at $171.28 on Friday. Amgen, Inc. has a one year low of $166.30 and a one year high of $210.19. The company has a debt-to-equity ratio of 2.71, a current ratio of 2.77 and a quick ratio of 2.53. The stock has a market capitalization of $104.47 billion, a PE ratio of 11.89, a price-to-earnings-growth ratio of 2.24 and a beta of 1.15.
Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, April 30th. The medical research company reported $3.56 EPS for the quarter, beating analysts’ consensus estimates of $3.45 by $0.11. Amgen had a net margin of 34.00% and a return on equity of 71.02%. The business had revenue of $5.56 billion during the quarter, compared to analysts’ expectations of $5.55 billion. During the same period in the prior year, the company earned $3.47 earnings per share. The business’s revenue was up .1% compared to the same quarter last year. As a group, sell-side analysts predict that Amgen, Inc. will post 13.94 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be issued a $1.45 dividend. The ex-dividend date is Thursday, May 16th. This represents a $5.80 dividend on an annualized basis and a dividend yield of 3.39%. Amgen’s payout ratio is 40.28%.
AMGN has been the subject of a number of research reports. Zacks Investment Research raised shares of Amgen from a “hold” rating to a “buy” rating and set a $217.00 price target for the company in a research report on Friday, April 12th. Cowen reissued a “buy” rating and issued a $234.00 price target on shares of Amgen in a research report on Tuesday, February 26th. Cantor Fitzgerald reissued a “hold” rating and issued a $221.00 price target on shares of Amgen in a research report on Monday, April 1st. Mizuho set a $208.00 price target on shares of Amgen and gave the company a “buy” rating in a research report on Friday, April 12th. Finally, BidaskClub cut shares of Amgen from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, January 29th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $209.05.
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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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