Loudon Investment Management LLC boosted its position in Amgen Inc. (NASDAQ:AMGN) by 40.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,838 shares of the medical research company’s stock after buying an additional 5,160 shares during the quarter. Amgen makes up about 2.3% of Loudon Investment Management LLC’s investment portfolio, making the stock its 15th biggest holding. Loudon Investment Management LLC’s holdings in Amgen were worth $3,072,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Bank of New York Mellon Corp increased its holdings in Amgen by 2.3% in the first quarter. Bank of New York Mellon Corp now owns 8,555,356 shares of the medical research company’s stock valued at $1,403,676,000 after buying an additional 195,200 shares during the last quarter. Legal & General Group Plc increased its holdings in Amgen by 2.5% in the second quarter. Legal & General Group Plc now owns 3,721,359 shares of the medical research company’s stock valued at $640,938,000 after buying an additional 90,615 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in Amgen by 2.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 2,962,595 shares of the medical research company’s stock valued at $510,248,000 after buying an additional 67,815 shares during the last quarter. UBS Asset Management Americas Inc. increased its holdings in Amgen by 3.1% in the first quarter. UBS Asset Management Americas Inc. now owns 2,719,874 shares of the medical research company’s stock valued at $446,250,000 after buying an additional 81,362 shares during the last quarter. Finally, Swiss National Bank increased its holdings 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 valued at $432,490,000 after buying an additional 551,600 shares during the last quarter. 78.13% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have commented on the company. Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $203.00 target price (up from $189.00) on shares of Amgen in a research note on Wednesday, July 26th. ValuEngine upgraded Amgen from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. BMO Capital Markets downgraded Amgen from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 26th. Mizuho restated a “buy” rating and issued a $198.00 target price (up from $183.00) on shares of Amgen in a research note on Thursday, September 28th. Finally, Argus lifted their target price on Amgen from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, July 27th. Thirteen equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $190.03.

In other news, EVP Sean E. Harper sold 1,525 shares of the stock in a transaction that occurred on Monday, October 9th. The shares were sold at an average price of $185.95, for a total transaction of $283,573.75. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.19% of the stock is owned by corporate insiders.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Wednesday, October 25th. The medical research company reported $3.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.11 by $0.16. Amgen had a net margin of 35.54% and a return on equity of 29.90%. The business had revenue of $5.77 billion for the quarter, compared to analysts’ expectations of $5.75 billion. During the same period in the prior year, the firm earned $3.02 earnings per share. Amgen’s revenue was down .7% compared to the same quarter last year.

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

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

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About Amgen

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)

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