Eagle Asset Management Inc. trimmed its holdings in Amgen Inc. (NASDAQ:AMGN) by 20.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 46,747 shares of the medical research company’s stock after selling 11,687 shares during the quarter. Eagle Asset Management Inc.’s holdings in Amgen were worth $11,394,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the stock. Morgan Stanley raised its holdings in shares of Amgen by 2.2% in the first quarter. Morgan Stanley now owns 9,960,010 shares of the medical research company’s stock valued at $2,478,151,000 after buying an additional 214,454 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Amgen by 10.0% in the first quarter. Geode Capital Management LLC now owns 9,680,430 shares of the medical research company’s stock valued at $2,402,520,000 after buying an additional 879,184 shares during the last quarter. Clearbridge Investments LLC raised its holdings in shares of Amgen by 0.3% in the first quarter. Clearbridge Investments LLC now owns 5,787,233 shares of the medical research company’s stock valued at $1,439,922,000 after buying an additional 16,353 shares during the last quarter. Deutsche Bank AG raised its holdings in shares of Amgen by 8.6% in the second quarter. Deutsche Bank AG now owns 4,899,559 shares of the medical research company’s stock valued at $1,194,268,000 after buying an additional 386,976 shares during the last quarter. Finally, Nordea Investment Management AB raised its holdings in shares of Amgen by 7.8% in the first quarter. Nordea Investment Management AB now owns 3,586,989 shares of the medical research company’s stock valued at $891,152,000 after buying an additional 260,664 shares during the last quarter. 74.73% of the stock is owned by institutional investors and hedge funds.
A number of research firms recently issued reports on AMGN. Mizuho began coverage on Amgen in a report on Friday, September 10th. They issued a “hold” rating and a $222.00 price target for the company. Oppenheimer boosted their price objective on Amgen from $272.00 to $277.00 and gave the stock an “outperform” rating in a report on Monday, June 7th. Morgan Stanley cut Amgen from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $280.00 to $251.00 in a report on Tuesday, September 7th. BMO Capital Markets boosted their price objective on Amgen from $296.00 to $301.00 and gave the stock an “outperform” rating in a report on Monday, May 31st. Finally, Robert W. Baird reissued a “sell” rating on shares of Amgen in a report on Thursday, August 5th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $249.70.
Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Monday, August 2nd. The medical research company reported $4.38 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $4.09 by $0.29. Amgen had a return on equity of 99.85% and a net margin of 22.55%. The business had revenue of $6.53 billion during the quarter, compared to analyst estimates of $6.43 billion. Equities research analysts predict that Amgen Inc. will post 16.41 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 8th. Shareholders of record on Tuesday, August 17th were paid a $1.76 dividend. This represents a $7.04 annualized dividend and a yield of 3.30%. The ex-dividend date was Monday, August 16th. Amgen’s payout ratio is 42.41%.
Amgen Company Profile
Amgen, Inc is a biotechnology company, which engages in the discovery, development, manufacture and marketing of human therapeutics. Its products include the following brands: Aranesp, Aimovig, KANJINTI, EVENITY, AMGEVITA, AVSOLA, BLINCYTO, MVASI, Corlanor, Enbrel, EPOGEN, IMLYGIC, Kyprolis, Neulasta, NEUPOGEN, Nplate, Parsabiv, Prolia, Repatha, Sensipar, Vectibix, Otezla, RIABNI, and XGEVA.
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