Rehmann Capital Advisory Group decreased its position in Amgen Inc. (NASDAQ:AMGN) by 31.3% during the third quarter, Holdings Channel reports. The fund owned 4,879 shares of the medical research company’s stock after selling 2,225 shares during the period. Rehmann Capital Advisory Group’s holdings in Amgen were worth $814,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of AMGN. Valley National Advisers Inc. boosted its stake in Amgen by 4.8% in the second quarter. Valley National Advisers Inc. now owns 714 shares of the medical research company’s stock worth $109,000 after buying an additional 33 shares during the last quarter. Oakworth Capital Inc. boosted its stake in Amgen by 1.4% in the third quarter. Oakworth Capital Inc. now owns 711 shares of the medical research company’s stock worth $119,000 after buying an additional 10 shares during the last quarter. Integrated Wealth Management boosted its stake in Amgen by 0.3% in the second quarter. Integrated Wealth Management now owns 930 shares of the medical research company’s stock worth $141,000 after buying an additional 3 shares during the last quarter. Hanson & Doremus Investment Management boosted its stake in Amgen by 3.0% in the second quarter. Hanson & Doremus Investment Management now owns 1,191 shares of the medical research company’s stock worth $181,000 after buying an additional 35 shares during the last quarter. Finally, Capital Advisors Ltd. LLC boosted its stake in Amgen by 0.5% in the third quarter. Capital Advisors Ltd. LLC now owns 1,083 shares of the medical research company’s stock worth $181,000 after buying an additional 5 shares during the last quarter. 77.92% of the stock is owned by institutional investors and hedge funds.
Amgen Inc. (NASDAQ:AMGN) traded up 0.57% on Friday, reaching $154.67. The company’s stock had a trading volume of 3,067,372 shares. The firm has a 50 day moving average of $149.71 and a 200 day moving average of $159.52. The firm has a market cap of $115.06 billion, a price-to-earnings ratio of 15.48 and a beta of 1.14. Amgen Inc. has a 12 month low of $133.64 and a 12 month high of $176.85.
Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Thursday, October 27th. The medical research company reported $3.02 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.79 by $0.23. Amgen had a return on equity of 29.27% and a net margin of 33.63%. The business earned $5.81 billion during the quarter, compared to the consensus estimate of $5.73 billion. During the same quarter in the prior year, the company posted $2.72 earnings per share. Amgen’s revenue was up 1.5% compared to the same quarter last year. Analysts anticipate that Amgen Inc. will post $11.55 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 8th. Investors of record on Wednesday, February 15th will be issued a dividend of $1.15 per share. The ex-dividend date of this dividend is Monday, February 13th. This represents a $4.60 annualized dividend and a yield of 2.97%. This is an increase from Amgen’s previous quarterly dividend of $1.00. Amgen’s dividend payout ratio is 39.92%.
A number of equities analysts have weighed in on the company. Citigroup Inc. reduced their price target on Amgen from $175.00 to $172.00 and set a “neutral” rating for the company in a research report on Wednesday, September 28th. Leerink Swann reaffirmed a “market perform” rating and set a $163.00 price target (down previously from $193.00) on shares of Amgen in a research report on Friday, October 28th. Vetr raised Amgen from a “buy” rating to a “strong-buy” rating and set a $188.11 price target for the company in a research report on Thursday, September 29th. Oppenheimer Holdings Inc. assumed coverage on Amgen in a research report on Tuesday, December 13th. They set an “outperform” rating and a $166.00 price target for the company. Finally, Goldman Sachs Group Inc. reaffirmed a “positive” rating and set a $218.00 price target (up previously from $202.00) on shares of Amgen in a research report on Friday, January 6th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Amgen presently has a consensus rating of “Hold” and a consensus price target of $179.48.
Amgen Company Profile
Amgen Inc is a biotechnology company. The Company discovers, develops, manufactures and delivers various human therapeutics. The Company’s business segment is human therapeutics. 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 Vectibix (panitumumab), Nplate (romiplostim) and Corlanor (ivabradine).
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