IBM Retirement Fund Reduces Holdings in Amgen, Inc. (NASDAQ:AMGN)
IBM Retirement Fund lowered its position in shares of Amgen, Inc. (NASDAQ:AMGN) by 2.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,903 shares of the medical research company’s stock after selling 321 shares during the period. IBM Retirement Fund’s holdings in Amgen were worth $3,515,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Lake Point Wealth Management increased its stake in shares of Amgen by 1,590.0% in the first quarter. Lake Point Wealth Management now owns 169 shares of the medical research company’s stock worth $34,000 after buying an additional 159 shares during the last quarter. Column Capital Advisors LLC raised its position in Amgen by 98.0% in the first quarter. Column Capital Advisors LLC now owns 194 shares of the medical research company’s stock worth $39,000 after acquiring an additional 96 shares in the last quarter. Providence Capital Advisors LLC acquired a new stake in Amgen during the 1st quarter worth about $47,000. Point72 Hong Kong Ltd bought a new stake in shares of Amgen in the 4th quarter valued at approximately $59,000. Finally, CVA Family Office LLC bought a new stake in shares of Amgen in the 1st quarter valued at approximately $62,000. Institutional investors own 75.75% of the company’s stock.
A number of equities research analysts have issued reports on AMGN shares. BMO Capital Markets upped their target price on Amgen from $274.00 to $291.00 and gave the stock an “outperform” rating in a research report on Friday, May 1st. SVB Leerink upped their target price on Amgen from $249.00 to $253.00 and gave the company a “market perform” rating in a research note on Tuesday, June 2nd. Mizuho restated a “hold” rating and issued a $215.00 target price on shares of Amgen in a research note on Thursday, April 30th. ValuEngine lowered Amgen from a “hold” rating to a “sell” rating in a research note on Tuesday, May 26th. Finally, Oppenheimer initiated coverage on Amgen in a research note on Friday, May 1st. They issued a “buy” rating and a $252.00 target price for the company. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and eighteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $245.85.
Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Thursday, April 30th. The medical research company reported $4.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.70 by $0.47. The business had revenue of $6.16 billion for 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%. The firm’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter last year, the business earned $3.56 earnings per share. Sell-side analysts expect that Amgen, Inc. will post 15.56 earnings per share for the current fiscal year.
In other Amgen news, Director R Sanders Williams sold 425 shares of the stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $237.31, for a total value of $100,856.75. Following the transaction, the director now owns 5,834 shares of the company’s stock, valued at $1,384,466.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ronald D. Sugar sold 1,000 shares of the stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $229.27, for a total value of $229,270.00. Following the completion of the transaction, the director now directly owns 16,482 shares in the company, valued at approximately $3,778,828.14. The disclosure for this sale can be found here. Insiders sold 3,425 shares of company stock worth $792,017 in the last three months. Insiders own 0.36% of the company’s stock.
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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