Amgen, Inc. (AMGN) Shares Sold by Smith Shellnut Wilson LLC ADV
Smith Shellnut Wilson LLC ADV lessened its stake in Amgen, Inc. (NASDAQ:AMGN) by 13.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 2,475 shares of the medical research company’s stock after selling 389 shares during the quarter. Smith Shellnut Wilson LLC ADV’s holdings in Amgen were worth $461,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Financial Advisory Service Inc. increased its position in Amgen by 0.3% in the second 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 last quarter. Jackson Grant Investment Advisers Inc. increased its position in Amgen by 0.8% in the second 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 last quarter. Ballentine Partners LLC increased its position in Amgen by 0.3% in the second 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 last quarter. Hudock Capital Group LLC increased its position in Amgen by 0.5% during the second quarter. Hudock Capital Group LLC now owns 1,921 shares of the medical research company’s stock valued at $330,000 after acquiring an additional 10 shares during the last quarter. Finally, South Texas Money Management Ltd. increased its position in Amgen by 0.7% during the second quarter. South Texas Money Management Ltd. now owns 3,223 shares of the medical research company’s stock valued at $555,000 after acquiring an additional 22 shares during the last quarter. 78.95% of the stock is currently owned by hedge funds and other institutional investors.
In other news, EVP Sean E. Harper sold 1,525 shares of the company’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $185.62, for a total transaction of $283,070.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.19% of the company’s stock.
Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Thursday, February 1st. The medical research company reported $2.89 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.03 by ($0.14). The firm had revenue of $5.80 billion for the quarter, compared to analysts’ expectations of $5.84 billion. Amgen had a net margin of 8.66% and a return on equity of 30.87%. The business’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period in the previous year, the company posted $2.89 earnings per share. equities research analysts predict that Amgen, Inc. will post 13.22 EPS for the current year.
Amgen declared that its board has initiated 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 reacquire shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
The company 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 dividend of $1.32 per share. This represents a $5.28 annualized dividend and a dividend yield of 3.02%. 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. Amgen’s dividend payout ratio is presently 178.99%.
A number of research analysts have weighed in on the stock. Argus upgraded shares of Amgen from a “hold” rating to a “buy” rating and boosted their price objective for the company from $192.33 to $220.00 in a research report on Tuesday, January 23rd. Royal Bank of Canada reiterated a “hold” rating and set a $189.00 price objective on shares of Amgen in a research report on Wednesday, January 24th. JPMorgan Chase & Co. boosted their price objective on shares of Amgen from $184.00 to $189.00 and gave the company a “neutral” rating in a research report on Wednesday, January 24th. Piper Jaffray Companies cut their price objective on shares of Amgen from $194.00 to $190.00 and set an “overweight” rating on the stock in a research report on Friday, February 2nd. Finally, Morgan Stanley cut their price objective on shares of Amgen from $204.00 to $196.00 and set an “overweight” rating on the stock in a research report on Friday, February 2nd. Sixteen equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Amgen currently has an average rating of “Hold” and an average target price of $191.84.
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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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