East Coast Asset Management LLC. held its stake in Amgen Inc. (NASDAQ:AMGN) during the second quarter, Holdings Channel reports. The fund owned 3,400 shares of the medical research company’s stock at the end of the second quarter. East Coast Asset Management LLC.’s holdings in Amgen were worth $517,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. McQueen Ball & Associates Inc. increased its stake in Amgen by 1.7% in the first quarter. McQueen Ball & Associates Inc. now owns 10,642 shares of the medical research company’s stock valued at $1,596,000 after buying an additional 182 shares during the last quarter. First Financial Corp IN increased its stake in Amgen by 1.9% in the first quarter. First Financial Corp IN now owns 3,573 shares of the medical research company’s stock valued at $536,000 after buying an additional 65 shares during the last quarter. P.R. Herzig & Co. Inc. increased its stake in Amgen by 107.7% in the first quarter. P.R. Herzig & Co. Inc. now owns 7,975 shares of the medical research company’s stock valued at $1,196,000 after buying an additional 4,135 shares during the last quarter. Coastline Trust Co increased its stake in Amgen by 30.0% in the first quarter. Coastline Trust Co now owns 8,110 shares of the medical research company’s stock valued at $1,216,000 after buying an additional 1,870 shares during the last quarter. Finally, M. Kraus & Co increased its stake in Amgen by 1.6% in the first quarter. M. Kraus & Co now owns 2,629 shares of the medical research company’s stock valued at $420,000 after buying an additional 41 shares during the last quarter. Hedge funds and other institutional investors own 79.15% of the company’s stock.
Shares of Amgen Inc. (NASDAQ:AMGN) traded down 1.3763% during midday trading on Tuesday, reaching $171.1417. The company’s stock had a trading volume of 1,425,663 shares. Amgen Inc. has a 12 month low of $131.43 and a 12 month high of $176.85. The firm has a market cap of $128.08 billion, a price-to-earnings ratio of 17.5135 and a beta of 0.87. The company has a 50-day moving average price of $172.09 and a 200-day moving average price of $160.57.
Amgen (NASDAQ:AMGN) last issued its earnings results on Wednesday, July 27th. The medical research company reported $2.84 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.74 by $0.10. Amgen had a return on equity of 29.30% and a net margin of 33.07%. The firm had revenue of $5.69 billion for the quarter, compared to analysts’ expectations of $5.58 billion. During the same quarter last year, the business earned $2.57 earnings per share. The company’s revenue was up 5.9% compared to the same quarter last year. Equities analysts expect that Amgen Inc. will post $11.36 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 8th. Shareholders of record on Wednesday, August 17th were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date was Monday, August 15th. Amgen’s dividend payout ratio (DPR) is currently 40.90%.
Several research firms recently weighed in on AMGN. Jefferies Group upped their price objective on shares of Amgen from $187.00 to $198.00 and gave the stock a “buy” rating in a report on Thursday, July 28th. Zacks Investment Research raised shares of Amgen from a “hold” rating to a “buy” rating and set a $166.00 price target for the company in a report on Wednesday, June 29th. Vetr raised shares of Amgen from a “hold” rating to a “buy” rating and set a $159.50 price target for the company in a report on Monday, June 13th. Leerink Swann reissued a “hold” rating on shares of Amgen in a report on Sunday, June 26th. Finally, Argus reissued a “buy” rating and issued a $195.00 price target (up from $185.00) on shares of Amgen in a report on Friday, August 5th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $184.56.
In other news, VP Annette Louise Such sold 3,000 shares of Amgen stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $174.59, for a total transaction of $523,770.00. The transaction was disclosed in a legal filing with the SEC, which is accessible 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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