Pillar Pacific Capital Management LLC Buys 1,161 Shares of Amgen Inc. (NASDAQ:AMGN)


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Pillar Pacific Capital Management LLC lifted its stake in Amgen Inc. (NASDAQ:AMGN) by 1.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 61,448 shares of the medical research company’s stock after purchasing an additional 1,161 shares during the period. Amgen comprises about 1.2% of Pillar Pacific Capital Management LLC’s investment portfolio, making the stock its 16th largest position. Pillar Pacific Capital Management LLC’s holdings in Amgen were worth $14,128,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Security National Trust Co. raised its holdings in shares of Amgen by 0.4% in the 4th quarter. Security National Trust Co. now owns 10,089 shares of the medical research company’s stock worth $2,320,000 after purchasing an additional 40 shares during the period. Aspiriant LLC raised its holdings in shares of Amgen by 2.1% in the 4th quarter. Aspiriant LLC now owns 2,055 shares of the medical research company’s stock worth $473,000 after purchasing an additional 42 shares during the period. Shoker Investment Counsel Inc. raised its holdings in shares of Amgen by 0.4% in the 3rd quarter. Shoker Investment Counsel Inc. now owns 9,670 shares of the medical research company’s stock worth $2,457,000 after purchasing an additional 43 shares during the period. Nachman Norwood & Parrott Inc raised its holdings in shares of Amgen by 0.5% in the 4th quarter. Nachman Norwood & Parrott Inc now owns 8,816 shares of the medical research company’s stock worth $2,027,000 after purchasing an additional 43 shares during the period. Finally, Smithfield Trust Co. raised its holdings in shares of Amgen by 1.1% in the 3rd quarter. Smithfield Trust Co. now owns 4,033 shares of the medical research company’s stock worth $1,025,000 after purchasing an additional 44 shares during the period. Hedge funds and other institutional investors own 75.23% of the company’s stock.

In other news, Director R Sanders Williams sold 250 shares of the business’s stock in a transaction on Monday, February 8th. The stock was sold at an average price of $237.99, for a total value of $59,497.50. Following the sale, the director now owns 4,659 shares of the company’s stock, valued at approximately $1,108,795.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ronald D. Sugar sold 1,000 shares of the business’s stock in a transaction on Wednesday, January 13th. The stock was sold at an average price of $235.99, for a total value of $235,990.00. Following the completion of the sale, the director now directly owns 16,805 shares in the company, valued at approximately $3,965,811.95. The disclosure for this sale can be found here. Insiders have sold a total of 13,360 shares of company stock worth $3,161,514 in the last ninety days. 0.36% of the stock is owned by company insiders.

NASDAQ:AMGN traded up $0.49 during midday trading on Tuesday, reaching $231.96. 83,537 shares of the company traded hands, compared to its average volume of 2,524,084. Amgen Inc. has a twelve month low of $177.05 and a twelve month high of $276.69. The firm has a market capitalization of $133.97 billion, a price-to-earnings ratio of 18.67, a price-to-earnings-growth ratio of 1.90 and a beta of 0.76. The company has a debt-to-equity ratio of 3.12, a current ratio of 2.28 and a quick ratio of 1.88. The company has a fifty day moving average price of $240.38 and a 200 day moving average price of $236.73.

Amgen (NASDAQ:AMGN) last announced its earnings results on Monday, February 1st. The medical research company reported $3.81 earnings per share for the quarter, beating the consensus estimate of $3.39 by $0.42. The firm had revenue of $6.63 billion for the quarter, compared to the consensus estimate of $6.57 billion. Amgen had a return on equity of 95.55% and a net margin of 29.42%. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.64 EPS. On average, equities research analysts forecast that Amgen Inc. will post 16.15 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 8th. Shareholders of record on Monday, February 15th will be paid a dividend of $1.76 per share. The ex-dividend date of this dividend is Thursday, February 11th. This represents a $7.04 annualized dividend and a yield of 3.04%. This is an increase from Amgen’s previous quarterly dividend of $1.60. Amgen’s payout ratio is presently 47.50%.

AMGN has been the topic of several analyst reports. BMO Capital Markets dropped their target price on Amgen from $308.00 to $304.00 and set an “outperform” rating on the stock in a report on Thursday, October 29th. Barclays dropped their target price on Amgen from $250.00 to $242.00 and set an “equal weight” rating on the stock in a report on Thursday, October 29th. Royal Bank of Canada reiterated a “neutral” rating on shares of Amgen in a report on Monday, January 4th. UBS Group started coverage on Amgen in a report on Wednesday, October 28th. They set a “neutral” rating and a $232.00 target price on the stock. Finally, Daiwa Capital Markets started coverage on Amgen in a research note on Tuesday, December 29th. They set a “buy” rating and a $300.00 price objective for the company. Eleven investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $255.39.

About Amgen

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, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Sensipar/Mimpara to treat secondary hyperparathyroidism; and EPOGEN to treat anemia caused by chronic kidney disease.

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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