Cullinan Associates Inc. increased its stake in shares of Amgen, Inc. (NASDAQ:AMGN) by 1.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,257 shares of the medical research company’s stock after buying an additional 641 shares during the quarter. Amgen accounts for 0.8% of Cullinan Associates Inc.’s investment portfolio, making the stock its 26th largest holding. Cullinan Associates Inc.’s holdings in Amgen were worth $12,115,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently made changes to their positions in the stock. AE Wealth Management LLC grew its stake in Amgen by 5.9% in the 4th quarter. AE Wealth Management LLC now owns 25,351 shares of the medical research company’s stock valued at $6,111,000 after purchasing an additional 1,419 shares during the period. Moseley Investment Management Inc. grew its stake in Amgen by 3.0% in the 4th quarter. Moseley Investment Management Inc. now owns 2,406 shares of the medical research company’s stock valued at $580,000 after purchasing an additional 69 shares during the period. Schwab Charitable Fund grew its stake in Amgen by 25.5% in the 4th quarter. Schwab Charitable Fund now owns 1,500 shares of the medical research company’s stock valued at $362,000 after purchasing an additional 305 shares during the period. Gillespie Robinson & Grimm Inc. grew its stake in Amgen by 2.9% in the 4th quarter. Gillespie Robinson & Grimm Inc. now owns 3,500 shares of the medical research company’s stock valued at $844,000 after purchasing an additional 100 shares during the period. Finally, Coastline Trust Co grew its stake in Amgen by 7.1% in the 4th quarter. Coastline Trust Co now owns 22,799 shares of the medical research company’s stock valued at $5,496,000 after purchasing an additional 1,520 shares during the period. Institutional investors and hedge funds own 76.58% of the company’s stock.
A number of brokerages have issued reports on AMGN. Sanford C. Bernstein began coverage on Amgen in a research note on Monday, October 14th. They issued an “outperform” rating for the company. Royal Bank of Canada reaffirmed a “hold” rating on shares of Amgen in a research report on Monday, September 30th. Credit Suisse Group upped their price target on Amgen from $235.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. BidaskClub cut Amgen from a “buy” rating to a “hold” rating in a research report on Tuesday, December 31st. Finally, Goldman Sachs Group set a $243.00 price target on Amgen and gave the company a “buy” rating in a research report on Monday, September 30th. Eleven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Amgen has an average rating of “Buy” and a consensus target price of $235.39.
Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, October 29th. The medical research company reported $3.66 EPS for the quarter, beating analysts’ consensus estimates of $3.53 by $0.13. The firm had revenue of $5.74 billion for the quarter, compared to analysts’ expectations of $5.63 billion. Amgen had a return on equity of 80.26% and a net margin of 34.48%. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.69 EPS. As a group, equities analysts expect that Amgen, Inc. will post 14.58 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 14th will be issued a dividend of $1.60 per share. This is a boost from Amgen’s previous quarterly dividend of $1.45. The ex-dividend date is Thursday, February 13th. This represents a $6.40 dividend on an annualized basis and a yield of 2.65%. Amgen’s dividend payout ratio is 40.28%.
In related news, Director R Sanders Williams sold 425 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $215.45, for a total transaction of $91,566.25. Following the sale, the director now owns 5,413 shares of the company’s stock, valued at approximately $1,166,230.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO David W. Meline sold 8,737 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $234.36, for a total value of $2,047,603.32. The disclosure for this sale can be found here. Insiders have sold a total of 18,162 shares of company stock worth $4,214,030 in the last three months. 0.25% of the stock is currently owned by insiders.
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, and neuroscience. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Aranesp to treat anemia; Xgeva for skeletal-related events prevention; Sensipar/Mimpara products to treat sHPT in chronic kidney disease; and EPOGEN to treat a lower-than-normal number of red blood cells.
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