Catalyst Capital Advisors LLC lowered its holdings in shares of Amgen Inc. (NASDAQ:AMGN – Free Report) by 26.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 308 shares of the medical research company’s stock after selling 109 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in Amgen were worth $74,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Builder Investment Group Inc. ADV purchased a new position in Amgen during the fourth quarter worth approximately $378,000. FCA Corp TX lifted its position in shares of Amgen by 10.4% in the first quarter. FCA Corp TX now owns 17,321 shares of the medical research company’s stock valued at $4,187,000 after acquiring an additional 1,634 shares in the last quarter. Eudaimonia Partners LLC lifted its position in shares of Amgen by 62.9% in the first quarter. Eudaimonia Partners LLC now owns 1,886 shares of the medical research company’s stock valued at $456,000 after acquiring an additional 728 shares in the last quarter. PFG Investments LLC purchased a new position in shares of Amgen in the first quarter valued at approximately $449,000. Finally, Johnson Financial Group Inc. lifted its position in shares of Amgen by 12.6% in the first quarter. Johnson Financial Group Inc. now owns 11,415 shares of the medical research company’s stock valued at $2,760,000 after acquiring an additional 1,277 shares in the last quarter. Hedge funds and other institutional investors own 74.44% of the company’s stock.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on AMGN. StockNews.com upgraded Amgen from a “buy” rating to a “strong-buy” rating in a research report on Friday. Argus decreased their target price on Amgen from $270.00 to $260.00 in a research report on Monday, June 26th. Oppenheimer restated an “outperform” rating and issued a $280.00 target price on shares of Amgen in a research report on Tuesday, July 25th. HSBC began coverage on Amgen in a research report on Wednesday, September 6th. They issued a “buy” rating and a $320.00 target price on the stock. Finally, Barclays cut their price target on Amgen from $225.00 to $210.00 in a report on Tuesday, July 11th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $259.53.
Insider Transactions at Amgen
In other news, EVP Murdo Gordon sold 9,558 shares of the firm’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $262.43, for a total transaction of $2,508,305.94. Following the completion of the transaction, the executive vice president now directly owns 44,308 shares in the company, valued at $11,627,748.44. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.46% of the company’s stock.
Amgen Price Performance
AMGN stock opened at $259.43 on Monday. The business has a fifty day moving average of $244.42 and a two-hundred day moving average of $236.81. The company has a quick ratio of 2.48, a current ratio of 2.77 and a debt-to-equity ratio of 8.76. The stock has a market cap of $138.77 billion, a price-to-earnings ratio of 17.49, a price-to-earnings-growth ratio of 3.20 and a beta of 0.61. Amgen Inc. has a 52-week low of $211.71 and a 52-week high of $296.67.
Amgen (NASDAQ:AMGN – Get Free Report) last released its quarterly earnings results on Thursday, August 3rd. The medical research company reported $5.00 EPS for the quarter, topping the consensus estimate of $4.44 by $0.56. Amgen had a return on equity of 196.60% and a net margin of 30.02%. The business had revenue of $7 billion during the quarter, compared to analyst estimates of $6.66 billion. During the same period last year, the business posted $4.65 earnings per share. The company’s quarterly revenue was up 6.2% on a year-over-year basis. As a group, research analysts anticipate that Amgen Inc. will post 18.35 earnings per share for the current year.
Amgen Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Friday, August 18th were given a dividend of $2.13 per share. The ex-dividend date was Thursday, August 17th. This represents a $8.52 annualized dividend and a dividend yield of 3.28%. Amgen’s dividend payout ratio is currently 57.45%.
Amgen Company Profile
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology, and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta that reduces the chance of infection due a low white blood cell count in patients cancer; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; and Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization.
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