Ieq Capital LLC Acquires 7,782 Shares of Amgen Inc. (NASDAQ:AMGN)

Ieq Capital LLC increased its holdings in Amgen Inc. (NASDAQ:AMGN) by 59.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,965 shares of the medical research company’s stock after acquiring an additional 7,782 shares during the quarter. Ieq Capital LLC’s holdings in Amgen were worth $5,216,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Valmark Advisers Inc. grew its position in Amgen by 7.2% during the 1st quarter. Valmark Advisers Inc. now owns 7,033 shares of the medical research company’s stock valued at $1,750,000 after purchasing an additional 473 shares during the last quarter. Savant Capital LLC grew its position in Amgen by 189.4% during the 1st quarter. Savant Capital LLC now owns 28,545 shares of the medical research company’s stock valued at $7,102,000 after purchasing an additional 18,680 shares during the last quarter. Pillar Pacific Capital Management LLC grew its position in Amgen by 3.6% during the 1st quarter. Pillar Pacific Capital Management LLC now owns 63,661 shares of the medical research company’s stock valued at $15,840,000 after purchasing an additional 2,213 shares during the last quarter. Alaethes Wealth LLC purchased a new stake in Amgen during the 1st quarter valued at about $825,000. Finally, Great Lakes Advisors LLC grew its position in Amgen by 1.4% during the 1st quarter. Great Lakes Advisors LLC now owns 17,405 shares of the medical research company’s stock valued at $4,330,000 after purchasing an additional 243 shares during the last quarter. Institutional investors own 75.23% of the company’s stock.

In other Amgen 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 value of $231,530.00. Following the sale, the director now owns 16,805 shares in the company, valued at approximately $3,890,861.65. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director R Sanders Williams sold 250 shares of the company’s stock in a transaction that occurred on Friday, May 7th. The stock was sold at an average price of $251.78, for a total value of $62,945.00. Following the completion of the sale, the director now owns 4,409 shares in the company, valued at approximately $1,110,098.02. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,250 shares of company stock worth $544,455. 0.36% of the stock is owned by insiders.

A number of analysts have recently issued reports on AMGN shares. Cantor Fitzgerald raised their price target on shares of Amgen from $280.00 to $295.00 and gave the company an “overweight” rating in a report on Wednesday, February 3rd. SVB Leerink dropped their price target on shares of Amgen from $267.00 to $230.00 and set a “market perform” rating on the stock in a report on Tuesday, May 4th. Oppenheimer dropped their price target on shares of Amgen from $275.00 to $265.00 and set an “outperform” rating on the stock in a report on Monday. Morgan Stanley dropped their price target on shares of Amgen from $281.00 to $278.00 and set an “overweight” rating on the stock in a report on Monday, May 3rd. Finally, Evercore ISI reaffirmed a “buy” rating on shares of Amgen in a report on Thursday, April 29th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have given a buy rating to the stock. Amgen has a consensus rating of “Hold” and a consensus target price of $255.62.

Shares of AMGN traded up $0.96 during mid-day trading on Wednesday, hitting $253.26. 80,333 shares of the company traded hands, compared to its average volume of 2,733,823. Amgen Inc. has a 1-year low of $210.28 and a 1-year high of $276.69. The company has a quick ratio of 1.88, a current ratio of 2.28 and a debt-to-equity ratio of 3.12. The company has a market capitalization of $145.51 billion, a PE ratio of 20.21, a price-to-earnings-growth ratio of 1.90 and a beta of 0.76. The business has a 50 day moving average of $250.37 and a 200 day moving average of $236.89.

Amgen (NASDAQ:AMGN) last issued its earnings results on Monday, April 26th. The medical research company reported $3.70 EPS for the quarter, missing the Zacks’ consensus estimate of $4.05 by ($0.35). The firm had revenue of $5.90 billion during the quarter, compared to analysts’ expectations of $6.30 billion. Amgen had a net margin of 29.42% and a return on equity of 95.55%. Amgen’s quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.17 EPS. As a group, research analysts expect that Amgen Inc. will post 16.15 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 8th. Investors 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 dividend on an annualized basis and a yield of 2.78%. Amgen’s dividend payout ratio is currently 47.50%.

Amgen Company Profile

Amgen, Inc is a biotechnology company, which engages in the discovery, development, manufacture and marketing of human therapeutics. Its products include the following brands: Aranesp, BLINCYTO, Corlanor, ENBREL, EPOGEN, IMLYGIC, KYPROLIS, Neulasta, NEUPOGEN, Nplate, Parsabiv, Prolia, Repatha, Sensipar, Vectibix, and XGEVA.

Further Reading: Conference Calls and Individual Investors

Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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