SeaBridge Investment Advisors LLC Reduces Position in Amgen Inc. (NASDAQ:AMGN)

SeaBridge Investment Advisors LLC lessened its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 2.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,040 shares of the medical research company’s stock after selling 531 shares during the period. Amgen accounts for approximately 1.4% of SeaBridge Investment Advisors LLC’s investment portfolio, making the stock its 19th biggest position. SeaBridge Investment Advisors LLC’s holdings in Amgen were worth $4,397,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in AMGN. FIL Ltd lifted its holdings in shares of Amgen by 129.0% in the 1st quarter. FIL Ltd now owns 1,954,019 shares of the medical research company’s stock worth $486,180,000 after acquiring an additional 1,100,742 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Amgen by 59.0% during the 1st quarter. Franklin Resources Inc. now owns 2,954,867 shares of the medical research company’s stock worth $735,201,000 after buying an additional 1,096,236 shares in the last quarter. BlackRock Inc. lifted its holdings in Amgen by 2.0% during the 1st quarter. BlackRock Inc. now owns 48,772,074 shares of the medical research company’s stock worth $12,134,979,000 after buying an additional 966,280 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Amgen by 10.0% during the 1st quarter. Geode Capital Management LLC now owns 9,680,430 shares of the medical research company’s stock worth $2,402,520,000 after buying an additional 879,184 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. acquired a new stake in Amgen during the 2nd quarter worth approximately $87,044,000. 74.73% of the stock is owned by institutional investors.

Shares of AMGN stock traded up $3.02 during mid-day trading on Wednesday, hitting $219.06. The stock had a trading volume of 58,846 shares, compared to its average volume of 2,587,297. Amgen Inc. has a fifty-two week low of $210.28 and a fifty-two week high of $276.69. The firm has a market cap of $124.39 billion, a PE ratio of 22.23, a PEG ratio of 1.55 and a beta of 0.68. The company has a debt-to-equity ratio of 3.45, a current ratio of 1.31 and a quick ratio of 1.03. The company’s 50-day simple moving average is $232.74 and its 200-day simple moving average is $240.06.

Amgen (NASDAQ:AMGN) last released its earnings results on Monday, August 2nd. The medical research company reported $4.38 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $4.09 by $0.29. Amgen had a net margin of 22.55% and a return on equity of 99.85%. The company had revenue of $6.53 billion during the quarter, compared to analysts’ expectations of $6.43 billion. On average, analysts expect that Amgen Inc. will post 16.41 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 8th. Stockholders of record on Tuesday, August 17th were paid a $1.76 dividend. This represents a $7.04 annualized dividend and a dividend yield of 3.21%. The ex-dividend date was Monday, August 16th. Amgen’s dividend payout ratio (DPR) is presently 42.41%.

AMGN has been the topic of a number of research reports. Robert W. Baird reiterated a “sell” rating on shares of Amgen in a report on Thursday, August 5th. BMO Capital Markets increased their price objective on shares of Amgen from $296.00 to $301.00 and gave the company an “outperform” rating in a research report on Monday, May 31st. Mizuho initiated coverage on shares of Amgen in a research report on Friday, September 10th. They issued a “hold” rating and a $222.00 price objective on the stock. Oppenheimer increased their price objective on shares of Amgen from $272.00 to $277.00 and gave the company an “outperform” rating in a research report on Monday, June 7th. Finally, SVB Leerink dropped their price objective on shares of Amgen from $238.00 to $234.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 4th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, Amgen currently has an average rating of “Hold” and a consensus target price of $249.70.

About Amgen

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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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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