Sonora Investment Management LLC Raises Position in Amgen Inc. (NASDAQ:AMGN)


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Sonora Investment Management LLC boosted its stake in Amgen Inc. (NASDAQ:AMGN) by 4.2% in the 1st quarter, Holdings Channel reports. The firm owned 26,020 shares of the medical research company’s stock after buying an additional 1,045 shares during the quarter. Sonora Investment Management LLC’s holdings in Amgen were worth $6,474,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fort Pitt Capital Group LLC bought a new position in shares of Amgen during the fourth quarter worth about $28,000. Norway Savings Bank bought a new position in Amgen in the 4th quarter worth about $29,000. Crescent Capital Consulting LLC bought a new position in Amgen in the 4th quarter worth about $34,000. Kinloch Capital LLC bought a new position in Amgen in the 4th quarter worth about $40,000. Finally, Baron Silver Stevens Financial Advisors LLC acquired a new stake in shares of Amgen in the 4th quarter worth approximately $45,000. Hedge funds and other institutional investors own 75.23% of the company’s stock.

In related news, Director R Sanders Williams sold 250 shares of the firm’s stock in a transaction dated Monday, February 8th. The shares were sold at an average price of $237.99, for a total value of $59,497.50. Following the completion of the sale, the director now owns 4,659 shares in the company, valued at $1,108,795.41. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Jonathan P. Graham sold 11,110 shares of Amgen stock in a transaction that occurred on Thursday, February 4th. The shares were sold at an average price of $236.51, for a total transaction of $2,627,626.10. The disclosure for this sale can be found here. Insiders have sold 14,360 shares of company stock valued at $3,407,034 in the last quarter. Insiders own 0.36% of the company’s stock.

AMGN has been the subject of a number of research analyst reports. BMO Capital Markets reduced their price target on shares of Amgen from $301.00 to $296.00 and set an “outperform” rating for the company in a research note on Wednesday, April 28th. Robert W. Baird reissued a “sell” rating on shares of Amgen in a research note on Thursday, April 29th. The Goldman Sachs Group restated a “buy” rating and issued a $290.00 price target on shares of Amgen in a research report on Wednesday, April 28th. Royal Bank of Canada dropped their price objective on shares of Amgen from $220.00 to $217.00 and set a “sector perform” rating on the stock in a research note on Tuesday. Finally, Oppenheimer reduced their price target on shares of Amgen from $275.00 to $265.00 and set an “outperform” rating for the company in a report on Monday. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $255.62.

AMGN traded down $2.14 during trading hours on Tuesday, reaching $243.24. The company’s stock had a trading volume of 15,613 shares, compared to its average volume of 2,714,429. Amgen Inc. has a fifty-two week low of $210.28 and a fifty-two week high of $276.69. The stock has a market cap of $140.06 billion, a PE ratio of 19.79, a P/E/G ratio of 1.90 and a beta of 0.76. The business’s 50-day moving average is $248.86 and its 200-day moving average is $236.11. The company has a debt-to-equity ratio of 3.12, a current ratio of 2.28 and a quick ratio of 1.88.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Monday, April 26th. The medical research company reported $3.70 EPS for the quarter, missing analysts’ consensus estimates of $4.05 by ($0.35). The firm had revenue of $5.90 billion for the quarter, compared to analyst estimates of $6.30 billion. Amgen had a return on equity of 95.55% and a net margin of 29.42%. The firm’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter last year, the company earned $4.17 earnings per share. Analysts expect that Amgen Inc. will post 16.15 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 8th. Stockholders of record on Monday, May 17th will be paid a dividend of $1.76 per share. The ex-dividend date is Friday, May 14th. This represents a $7.04 annualized dividend and a dividend yield of 2.89%. Amgen’s dividend payout ratio (DPR) is 47.50%.

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, BLINCYTO, Corlanor, ENBREL, EPOGEN, IMLYGIC, KYPROLIS, Neulasta, NEUPOGEN, Nplate, Parsabiv, Prolia, Repatha, Sensipar, Vectibix, and XGEVA.

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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