Westover Capital Advisors LLC Reduces Stake in Amgen (AMGN)
Westover Capital Advisors LLC cut its stake in Amgen (NASDAQ:AMGN) by 3.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,917 shares of the medical research company’s stock after selling 283 shares during the quarter. Westover Capital Advisors LLC’s holdings in Amgen were worth $1,377,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Banco de Sabadell S.A acquired a new position in shares of Amgen in the fourth quarter worth $3,165,000. Archford Capital Strategies LLC increased its stake in shares of Amgen by 4.5% in the fourth quarter. Archford Capital Strategies LLC now owns 12,219 shares of the medical research company’s stock worth $2,125,000 after acquiring an additional 528 shares during the last quarter. Altman Advisors Inc. acquired a new position in shares of Amgen in the fourth quarter worth $2,094,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp increased its stake in shares of Amgen by 74.4% in the fourth quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 306,000 shares of the medical research company’s stock worth $53,213,000 after acquiring an additional 130,500 shares during the last quarter. Finally, Marco Investment Management LLC boosted its holdings in Amgen by 1,771.7% in the fourth quarter. Marco Investment Management LLC now owns 113,969 shares of the medical research company’s stock worth $19,819,000 after purchasing an additional 107,880 shares in the last quarter. 85.76% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages recently issued reports on AMGN. Cowen reiterated a “buy” rating and issued a $204.00 price objective on shares of Amgen in a report on Tuesday. Royal Bank of Canada decreased their price objective on shares of Amgen to $183.00 and set a “sector perform” rating for the company in a report on Wednesday. Mizuho set a $200.00 price objective on shares of Amgen and gave the stock a “buy” rating in a report on Tuesday. Morgan Stanley decreased their price objective on shares of Amgen from $205.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, ValuEngine cut shares of Amgen from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and ten have issued a buy rating to the company. Amgen currently has a consensus rating of “Hold” and an average target price of $190.48.
Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, April 24th. The medical research company reported $3.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.24 by $0.23. Amgen had a net margin of 9.67% and a return on equity of 35.80%. The company had revenue of $5.55 billion during the quarter, compared to analysts’ expectations of $5.44 billion. During the same period in the prior year, the company earned $3.15 earnings per share. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. equities analysts anticipate that Amgen will post 13.36 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 8th. Shareholders of record on Thursday, May 17th will be issued a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date is Wednesday, May 16th. Amgen’s dividend payout ratio (DPR) is 41.97%.
Amgen declared that its Board of Directors has approved a share buyback plan on Thursday, February 1st that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the medical research company to reacquire shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.
In other news, EVP Sean E. Harper sold 1,525 shares of the company’s stock in a transaction dated Friday, March 16th. The shares were sold at an average price of $189.75, for a total transaction of $289,368.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 4,575 shares of company stock valued at $818,330 in the last ninety days. 0.19% of the stock is owned by company insiders.
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, nephrology, and neuroscience. The company's products include Evenity to treat osteoporosis in postmenopausal women; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Repatha to treat coronary diseases; Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Parsabiv to treat secondary hyperparathyroidism (sHPT); and Aimovig for the prevention of migraine.
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