Eliot Finkel Investment Counsel LLC increased its position in shares of Amgen Inc. (NASDAQ:AMGN) by 3.3% during the second quarter, Holdings Channel reports. The fund owned 29,955 shares of the medical research company’s stock after buying an additional 960 shares during the period. Amgen makes up about 4.1% of Eliot Finkel Investment Counsel LLC’s investment portfolio, making the stock its 10th largest position. Eliot Finkel Investment Counsel LLC’s holdings in Amgen were worth $4,558,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cottage Street Advisors LLC increased its position in Amgen by 26.3% in the first quarter. Cottage Street Advisors LLC now owns 10,576 shares of the medical research company’s stock worth $1,596,000 after buying an additional 2,201 shares during the last quarter. Teachers Advisors Inc. increased its position in Amgen by 2.1% in the first quarter. Teachers Advisors Inc. now owns 1,405,401 shares of the medical research company’s stock worth $210,712,000 after buying an additional 29,378 shares during the last quarter. Ngam Advisors L.P. increased its position in Amgen by 9.6% in the first quarter. Ngam Advisors L.P. now owns 177,671 shares of the medical research company’s stock worth $26,639,000 after buying an additional 15,619 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its position in Amgen by 0.7% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 445,830 shares of the medical research company’s stock worth $66,843,000 after buying an additional 2,960 shares during the last quarter. Finally, Cornerstone Financial Partners LLC increased its position in Amgen by 5.6% in the first quarter. Cornerstone Financial Partners LLC now owns 9,392 shares of the medical research company’s stock worth $1,408,000 after buying an additional 502 shares during the last quarter. Institutional investors own 79.12% of the company’s stock.
Shares of Amgen Inc. (NASDAQ:AMGN) traded up 0.44% during midday trading on Monday, reaching $162.62. 2,348,428 shares of the company were exchanged. The company has a 50 day moving average price of $169.32 and a 200-day moving average price of $162.55. Amgen Inc. has a 12-month low of $139.02 and a 12-month high of $176.85. The stock has a market capitalization of $121.70 billion, a P/E ratio of 16.64 and a beta of 0.94.
Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Wednesday, July 27th. The medical research company reported $2.84 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.74 by $0.10. The business had revenue of $5.69 billion for the quarter, compared to analysts’ expectations of $5.58 billion. Amgen had a return on equity of 29.30% and a net margin of 33.07%. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same period in the prior year, the firm earned $2.57 EPS. On average, analysts forecast that Amgen Inc. will post $11.35 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 8th. Stockholders of record on Wednesday, November 16th will be issued a dividend of $1.00 per share. The ex-dividend date is Monday, November 14th. This represents a $4.00 annualized dividend and a dividend yield of 2.46%. Amgen’s dividend payout ratio (DPR) is 40.90%.
A number of research firms recently issued reports on AMGN. BMO Capital Markets reiterated an “outperform” rating and set a $190.00 target price on shares of Amgen in a research report on Thursday, September 22nd. Jefferies Group reiterated a “buy” rating and set a $198.00 target price on shares of Amgen in a research report on Tuesday, August 23rd. Vetr upgraded shares of Amgen from a “sell” rating to a “hold” rating and set a $171.34 price objective on the stock in a report on Wednesday, August 3rd. Leerink Swann restated a “hold” rating on shares of Amgen in a report on Saturday, September 17th. Finally, Credit Suisse Group AG set a $206.00 price objective on shares of Amgen and gave the stock a “buy” rating in a report on Saturday, September 17th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $184.94.
In other news, VP Annette Louise Such sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $174.59, for a total transaction of $523,770.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.20% of the company’s stock.
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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