Beacon Investment Advisory Services Inc. bought a new stake in Amgen Inc. (NASDAQ:AMGN) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,296 shares of the medical research company’s stock, valued at approximately $395,000.

Other hedge funds have also bought and sold shares of the company. Canada Pension Plan Investment Board lifted its position in Amgen by 65.7% in the second quarter. Canada Pension Plan Investment Board now owns 1,706,261 shares of the medical research company’s stock worth $293,869,000 after buying an additional 676,300 shares during the last quarter. Skandinaviska Enskilda Banken AB publ bought a new stake in Amgen in the first quarter worth $110,402,000. Swiss National Bank lifted its position in Amgen by 26.5% in the first quarter. Swiss National Bank now owns 2,636,008 shares of the medical research company’s stock worth $432,490,000 after buying an additional 551,600 shares during the last quarter. Bank of Nova Scotia lifted its position in Amgen by 414.4% in the first quarter. Bank of Nova Scotia now owns 601,862 shares of the medical research company’s stock worth $98,747,000 after buying an additional 484,868 shares during the last quarter. Finally, AQR Capital Management LLC lifted its position in Amgen by 37.4% in the first quarter. AQR Capital Management LLC now owns 1,443,129 shares of the medical research company’s stock worth $236,775,000 after buying an additional 392,538 shares during the last quarter. 78.13% of the stock is owned by hedge funds and other institutional investors.

In other Amgen news, EVP Sean E. Harper sold 1,525 shares of the stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $185.95, for a total value of $283,573.75. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.19% of the stock is owned by company insiders.

TRADEMARK VIOLATION NOTICE: This news story was published by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are accessing this news story on another site, it was copied illegally and reposted in violation of United States and international copyright and trademark law. The correct version of this news story can be read at https://theolympiareport.com/2017/11/01/2296-shares-in-amgen-inc-amgn-purchased-by-beacon-investment-advisory-services-inc.html.

Amgen Inc. (NASDAQ AMGN) opened at 175.22 on Wednesday. The firm has a 50-day moving average price of $184.39 and a 200 day moving average price of $172.38. Amgen Inc. has a 1-year low of $133.64 and a 1-year high of $191.10. The stock has a market cap of $127.85 billion, a price-to-earnings ratio of 15.96 and a beta of 1.36.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Wednesday, October 25th. The medical research company reported $3.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.11 by $0.16. The company had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.75 billion. Amgen had a return on equity of 29.90% and a net margin of 35.54%. Amgen’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter last year, the company earned $3.02 EPS. On average, equities research analysts anticipate that Amgen Inc. will post $12.66 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 17th will be given a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date is Thursday, November 16th. Amgen’s dividend payout ratio is currently 41.63%.

Amgen announced that its board has initiated a share repurchase plan on Wednesday, October 25th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to buy shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

A number of analysts recently issued reports on AMGN shares. BMO Capital Markets restated a “market perform” rating and issued a $198.00 price target on shares of Amgen in a research report on Thursday, October 26th. Cann restated a “buy” rating on shares of Amgen in a research report on Monday, August 28th. Oppenheimer Holdings, Inc. restated a “buy” rating and issued a $203.00 price target on shares of Amgen in a research report on Thursday, September 7th. Mizuho restated a “buy” rating and issued a $198.00 price target (up from $183.00) on shares of Amgen in a research report on Thursday, September 28th. Finally, Zacks Investment Research downgraded Amgen from a “buy” rating to a “hold” rating in a research report on Monday, October 16th. Twelve investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $190.03.

Amgen Company Profile

Amgen Inc is a biotechnology company. The Company discovers, develops, manufactures and delivers various human therapeutics. It operates in human therapeutics segment. Its marketed products portfolio includes Neulasta (pegfilgrastim); erythropoiesis-stimulating agents (ESAs), such as Aranesp (darbepoetin alfa) and EPOGEN (epoetin alfa); Sensipar/Mimpara (cinacalcet); XGEVA (denosumab); Prolia (denosumab); NEUPOGEN (filgrastim), and other marketed products, such as KYPROLIS (carfilzomib), Vectibix (panitumumab), Nplate (romiplostim), Repatha (evolocumab), BLINCYTO (blinatumomab), IMLYGIC (talimogene laherparepvec) and Corlanor (ivabradine).

Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

Receive News & Ratings for Amgen Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amgen Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.