King Luther Capital Management Corp Has $104.91 Million Stake in Amgen, Inc. (AMGN)
King Luther Capital Management Corp lessened its stake in Amgen, Inc. (NASDAQ:AMGN) by 3.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 609,108 shares of the medical research company’s stock after selling 21,713 shares during the quarter. King Luther Capital Management Corp owned 0.08% of Amgen worth $104,907,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the company. Financial Advisory Service Inc. raised its holdings in Amgen by 0.3% in the 2nd quarter. Financial Advisory Service Inc. now owns 1,974 shares of the medical research company’s stock worth $340,000 after purchasing an additional 5 shares during the period. Jackson Grant Investment Advisers Inc. raised its holdings in Amgen by 0.8% in the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 641 shares of the medical research company’s stock worth $110,000 after purchasing an additional 5 shares during the period. Capital Advisors Ltd. LLC raised its holdings in Amgen by 0.6% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 1,103 shares of the medical research company’s stock worth $190,000 after purchasing an additional 7 shares during the period. Ballentine Partners LLC raised its holdings in Amgen by 0.3% in the 2nd quarter. Ballentine Partners LLC now owns 3,441 shares of the medical research company’s stock worth $620,000 after purchasing an additional 9 shares during the period. Finally, Hudock Capital Group LLC raised its holdings in Amgen by 0.5% in the 2nd quarter. Hudock Capital Group LLC now owns 1,921 shares of the medical research company’s stock worth $330,000 after purchasing an additional 10 shares during the period. 78.38% of the stock is owned by institutional investors and hedge funds.
A number of research firms recently weighed in on AMGN. Zacks Investment Research cut Amgen from a “buy” rating to a “hold” rating in a report on Monday, October 30th. Royal Bank Of Canada reduced their price target on Amgen from $192.00 to $188.00 and set a “sector perform” rating for the company in a report on Thursday, October 26th. Credit Suisse Group reaffirmed a “neutral” rating and issued a $186.00 price target (up previously from $177.00) on shares of Amgen in a report on Friday, September 29th. Oppenheimer reaffirmed a “buy” rating and issued a $203.00 price target on shares of Amgen in a report on Thursday, September 7th. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $199.00 price target on shares of Amgen in a report on Monday, September 25th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $190.22.
In other news, EVP Sean E. Harper sold 1,525 shares of the company’s stock in a transaction that occurred on 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carbonnel Francois De sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $173.61, for a total value of $694,440.00. The disclosure for this sale can be found here. Insiders sold 7,050 shares of company stock valued at $1,239,673 over the last 90 days. Company insiders own 0.19% of the company’s stock.
Shares of Amgen, Inc. (AMGN) opened at $178.67 on Wednesday. The company has a debt-to-equity ratio of 1.05, a current ratio of 6.07 and a quick ratio of 5.72. The stock has a market capitalization of $130,080.00, a P/E ratio of 14.09, a PEG ratio of 2.57 and a beta of 1.36. Amgen, Inc. has a 52-week low of $138.83 and a 52-week high of $191.10.
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 business had revenue of $5.77 billion during the quarter, compared to analyst estimates of $5.75 billion. Amgen had a return on equity of 25.35% and a net margin of 35.01%. The business’s revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the business earned $3.02 earnings per share. sell-side analysts predict 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. Stockholders of record on Friday, November 17th will be given a $1.15 dividend. The ex-dividend date is Thursday, November 16th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.57%. Amgen’s dividend payout ratio (DPR) is presently 41.55%.
Amgen declared that its Board of Directors has authorized a stock repurchase program on Wednesday, October 25th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the medical research company to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.
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).
Want to see what other hedge funds are holding AMGN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Amgen, Inc. (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.