Putnam FL Investment Management Co. bought a new position in Amgen, Inc. (NASDAQ:AMGN) during the third quarter, HoldingsChannel.com reports. The institutional investor bought 2,397 shares of the medical research company’s stock, valued at approximately $447,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Baker Ellis Asset Management LLC bought a new stake in shares of Amgen during the third quarter valued at approximately $108,000. Jackson Grant Investment Advisers Inc. raised its holdings in shares of Amgen by 0.8% during the second quarter. Jackson Grant Investment Advisers Inc. now owns 641 shares of the medical research company’s stock valued at $110,000 after buying an additional 5 shares during the last quarter. Phocas Financial Corp. bought a new stake in shares of Amgen during the second quarter valued at approximately $110,000. Omnia Family Wealth LLC raised its holdings in shares of Amgen by 25.3% during the second quarter. Omnia Family Wealth LLC now owns 729 shares of the medical research company’s stock valued at $125,000 after buying an additional 147 shares during the last quarter. Finally, Grove Bank & Trust raised its holdings in shares of Amgen by 87.4% during the second quarter. Grove Bank & Trust now owns 731 shares of the medical research company’s stock valued at $126,000 after buying an additional 341 shares during the last quarter. 78.48% of the stock is currently owned by hedge funds and other institutional investors.

Amgen, Inc. (NASDAQ AMGN) opened at $187.59 on Friday. Amgen, Inc. has a 12 month low of $150.38 and a 12 month high of $191.10. The company has a current ratio of 6.07, a quick ratio of 5.72 and a debt-to-equity ratio of 1.05. The company has a market cap of $136,170.00, a P/E ratio of 16.95, a P/E/G ratio of 2.75 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, topping the Thomson Reuters’ consensus estimate of $3.11 by $0.16. The firm had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.75 billion. Amgen had a net margin of 35.54% and a return on equity of 29.90%. The firm’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.02 earnings per share. research analysts expect that Amgen, Inc. will post 12.71 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 8th. Shareholders of record on Thursday, February 15th will be given a $1.32 dividend. This is a positive change from Amgen’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $5.28 annualized dividend and a yield of 2.81%. Amgen’s payout ratio is 41.55%.

Amgen declared that its board has initiated a stock buyback program on Wednesday, October 25th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the medical research company to reacquire shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

A number of research firms have recently weighed in on AMGN. BidaskClub raised Amgen from a “sell” rating to a “hold” rating in a report on Thursday. Oppenheimer set a $205.00 price target on Amgen and gave the company a “buy” rating in a report on Friday, January 5th. BMO Capital Markets reaffirmed a “hold” rating and set a $199.00 price target on shares of Amgen in a report on Monday, September 25th. Vetr cut Amgen from a “buy” rating to a “hold” rating and set a $184.25 price target on the stock. in a report on Wednesday, January 3rd. Finally, Credit Suisse Group reiterated a “neutral” rating and set a $186.00 price objective (up previously from $177.00) on shares of Amgen in a research note on Friday, September 29th. Fifteen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $190.15.

In other Amgen news, Director Carbonnel Francois De sold 4,000 shares of Amgen 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Sean E. Harper sold 1,525 shares of Amgen stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $185.62, for a total transaction of $283,070.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,575 shares of company stock worth $1,508,836. 0.19% of the stock is currently owned by company insiders.

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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).

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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