2,296 Shares in Amgen Inc. (AMGN) Purchased by Beacon Investment Advisory Services Inc.
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.
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).
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