Advisors Capital Management LLC Purchases Shares of 4,476 Amgen, Inc. (NASDAQ:AMGN)

Advisors Capital Management LLC acquired a new position in shares of Amgen, Inc. (NASDAQ:AMGN) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 4,476 shares of the medical research company’s stock, valued at approximately $763,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. WINTON GROUP Ltd boosted its position in Amgen by 138.4% during the third quarter. WINTON GROUP Ltd now owns 50,405 shares of the medical research company’s stock valued at $9,398,000 after purchasing an additional 29,264 shares during the last quarter. Sumitomo Mitsui Financial Group Inc. raised its holdings in Amgen by 25.1% during the third quarter. Sumitomo Mitsui Financial Group Inc. now owns 9,224 shares of the medical research company’s stock valued at $1,720,000 after buying an additional 1,853 shares in the last quarter. Grove Bank & Trust increased its stake in shares of Amgen by 142.3% in the third quarter. Grove Bank & Trust now owns 1,771 shares of the medical research company’s stock worth $330,000 after purchasing an additional 1,040 shares during the period. Commonwealth Bank of Australia increased its stake in shares of Amgen by 1.9% in the third quarter. Commonwealth Bank of Australia now owns 57,204 shares of the medical research company’s stock worth $10,661,000 after purchasing an additional 1,067 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of Amgen by 0.9% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,540,378 shares of the medical research company’s stock worth $287,203,000 after purchasing an additional 13,857 shares during the period. 78.35% of the stock is owned by institutional investors and hedge funds.

In related news, EVP Sean E. Harper sold 1,525 shares of the stock in a transaction that occurred on Thursday, April 12th. The shares were sold at an average price of $172.68, for a total transaction of $263,337.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have sold a total of 6,100 shares of company stock worth $1,099,220 in the last quarter. 0.27% of the stock is currently owned by company insiders.

Shares of AMGN stock traded up $2.11 on Thursday, reaching $185.79. The stock had a trading volume of 2,289,478 shares, compared to its average volume of 4,267,290. The stock has a market cap of $122.16 billion, a price-to-earnings ratio of 14.77, a PEG ratio of 2.30 and a beta of 1.38. The company has a debt-to-equity ratio of 2.14, a quick ratio of 3.60 and a current ratio of 3.88. Amgen, Inc. has a 12 month low of $161.13 and a 12 month high of $201.23.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, April 24th. The medical research company reported $3.47 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.24 by $0.23. Amgen had a net margin of 9.67% and a return on equity of 35.80%. The company had revenue of $5.55 billion for the quarter, compared to analysts’ expectations of $5.44 billion. During the same period last year, the firm earned $3.15 earnings per share. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. sell-side analysts predict that Amgen, Inc. will post 13.63 EPS for the current fiscal year.

A number of equities research analysts recently weighed in on AMGN shares. Zacks Investment Research raised Amgen from a “hold” rating to a “buy” rating and set a $194.00 target price on the stock in a research report on Thursday, April 5th. TheStreet downgraded Amgen from a “b-” rating to a “c+” rating in a report on Wednesday, April 11th. BidaskClub downgraded Amgen from a “hold” rating to a “sell” rating in a report on Saturday, March 24th. Vetr downgraded Amgen from a “hold” rating to a “sell” rating and set a $181.60 target price on the stock. in a report on Tuesday, March 6th. Finally, Royal Bank of Canada dropped their price objective on shares of Amgen to $183.00 and set a “sector perform” rating for the company in a research report on Wednesday, April 25th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $193.08.

Amgen Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, nephrology, and neuroscience. The company's products include Evenity to treat osteoporosis in postmenopausal women; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Repatha to treat coronary diseases; Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Parsabiv to treat secondary hyperparathyroidism (sHPT); and Aimovig for the prevention of migraine.

Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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