Iat Reinsurance Co. LTD. trimmed its stake in Amgen, Inc. (NASDAQ:AMGN) by 35.1% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 92,500 shares of the medical research company’s stock after selling 50,000 shares during the quarter. Amgen accounts for approximately 5.3% of Iat Reinsurance Co. LTD.’s holdings, making the stock its 4th biggest holding. Iat Reinsurance Co. LTD.’s holdings in Amgen were worth $18,753,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Salomon & Ludwin LLC raised its holdings in shares of Amgen by 125.0% during the fourth quarter. Salomon & Ludwin LLC now owns 108 shares of the medical research company’s stock valued at $26,000 after buying an additional 60 shares during the last quarter. Savior LLC acquired a new stake in Amgen in the 4th quarter valued at approximately $34,000. CLS Investments LLC raised its stake in Amgen by 175.4% during the 4th quarter. CLS Investments LLC now owns 157 shares of the medical research company’s stock valued at $38,000 after acquiring an additional 100 shares in the last quarter. Sageworth Trust Co acquired a new position in Amgen during the 4th quarter worth $42,000. Finally, Altshuler Shaham Ltd boosted its position in Amgen by 273.9% during the 4th quarter. Altshuler Shaham Ltd now owns 172 shares of the medical research company’s stock worth $42,000 after acquiring an additional 126 shares during the period. 76.41% of the stock is owned by institutional investors.

In related news, Director R Sanders Williams sold 425 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $237.31, for a total transaction of $100,856.75. Following the completion of the sale, the director now directly owns 5,834 shares in the company, valued at $1,384,466.54. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ronald D. Sugar sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $229.27, for a total transaction of $229,270.00. Following the transaction, the director now directly owns 16,482 shares in the company, valued at $3,778,828.14. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,425 shares of company stock worth $563,477. Company insiders own 0.25% of the company’s stock.

NASDAQ AMGN traded up $1.65 on Friday, hitting $226.43. 2,305,494 shares of the stock were exchanged, compared to its average volume of 2,887,619. The company’s 50-day moving average price is $228.36 and its two-hundred day moving average price is $225.14. The company has a debt-to-equity ratio of 3.16, a current ratio of 1.59 and a quick ratio of 1.28. Amgen, Inc. has a 52-week low of $166.68 and a 52-week high of $244.99. The company has a market capitalization of $132.23 billion, a price-to-earnings ratio of 17.75, a P/E/G ratio of 1.92 and a beta of 0.97.

Amgen (NASDAQ:AMGN) last issued its earnings results on Thursday, April 30th. The medical research company reported $4.17 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.70 by $0.47. The business had revenue of $6.16 billion during the quarter, compared to analysts’ expectations of $6.01 billion. Amgen had a return on equity of 90.75% and a net margin of 32.03%. Amgen’s revenue was up 10.9% compared to the same quarter last year. During the same quarter last year, the firm posted $3.56 earnings per share. Equities analysts predict that Amgen, Inc. will post 15.58 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 8th. Shareholders of record on Monday, May 18th will be paid a dividend of $1.60 per share. The ex-dividend date is Friday, May 15th. This represents a $6.40 annualized dividend and a yield of 2.83%. Amgen’s dividend payout ratio (DPR) is presently 43.18%.

A number of equities research analysts recently weighed in on the stock. Bank of America lifted their price objective on shares of Amgen from $250.00 to $265.00 and gave the company a “buy” rating in a research note on Friday, May 1st. SunTrust Banks boosted their price target on shares of Amgen from $254.00 to $265.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Cantor Fitzgerald increased their price objective on shares of Amgen from $255.00 to $263.00 and gave the company an “overweight” rating in a report on Monday, May 4th. Oppenheimer started coverage on Amgen in a report on Friday, May 1st. They set a “buy” rating and a $252.00 target price on the stock. Finally, Barclays assumed coverage on Amgen in a research note on Thursday, February 27th. They set an “equal weight” rating and a $235.00 price target for the company. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seventeen have issued a buy rating to the company. Amgen has an average rating of “Buy” and an average price target of $244.65.

Amgen Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, and neuroscience. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Aranesp to treat anemia; Xgeva for skeletal-related events prevention; Sensipar/Mimpara products to treat sHPT in chronic kidney disease; and EPOGEN to treat a lower-than-normal number of red blood cells.

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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