Grantham Mayo Van Otterloo & Co. LLC boosted its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 26.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,437 shares of the medical research company's stock after purchasing an additional 928 shares during the period. Grantham Mayo Van Otterloo & Co. LLC's holdings in Amgen were worth $1,156,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP lifted its holdings in shares of Amgen by 2.1% in the 3rd quarter. Wellington Management Group LLP now owns 239,354 shares of the medical research company's stock worth $77,122,000 after buying an additional 4,942 shares during the period. Executive Wealth Management LLC bought a new stake in shares of Amgen in the 3rd quarter valued at about $7,880,000. Resources Management Corp CT ADV lifted its position in shares of Amgen by 8.9% in the 3rd quarter. Resources Management Corp CT ADV now owns 5,065 shares of the medical research company's stock worth $1,632,000 after purchasing an additional 415 shares during the period. Conway Capital Management Inc. purchased a new position in Amgen during the third quarter valued at approximately $306,000. Finally, Brophy Wealth Management LLC purchased a new stake in Amgen during the third quarter worth $1,312,000. Institutional investors own 76.50% of the company's stock.
Wall Street Analyst Weigh In
AMGN has been the subject of several recent analyst reports. UBS Group reiterated a "hold" rating on shares of Amgen in a research note on Wednesday, February 12th. Johnson Rice set a $294.00 price objective on Amgen in a report on Wednesday, March 5th. Wells Fargo & Company reiterated an "equal weight" rating on shares of Amgen in a research report on Wednesday, February 5th. Morgan Stanley raised their price target on shares of Amgen from $328.00 to $330.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 9th. Finally, StockNews.com raised shares of Amgen from a "buy" rating to a "strong-buy" rating in a report on Wednesday, April 9th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $315.22.
Get Our Latest Stock Report on Amgen
Insider Activity
In related news, SVP Nancy A. Grygiel sold 1,589 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total value of $483,802.83. Following the completion of the transaction, the senior vice president now directly owns 7,210 shares in the company, valued at approximately $2,195,228.70. This represents a 18.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP David M. Reese sold 8,711 shares of the company's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $293.22, for a total value of $2,554,239.42. Following the completion of the transaction, the executive vice president now directly owns 62,147 shares in the company, valued at approximately $18,222,743.34. This trade represents a 12.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 69,341 shares of company stock valued at $20,644,335 in the last 90 days. Company insiders own 0.69% of the company's stock.
Amgen Price Performance
AMGN traded up $5.22 during trading on Monday, reaching $291.20. The company's stock had a trading volume of 428,919 shares, compared to its average volume of 2,770,604. The company has a market cap of $156.56 billion, a price-to-earnings ratio of 38.57, a PEG ratio of 2.63 and a beta of 0.59. The firm has a fifty day simple moving average of $304.33 and a two-hundred day simple moving average of $295.11. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62.
Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 earnings per share for the quarter, topping analysts' consensus estimates of $5.04 by $0.27. Amgen had a return on equity of 176.32% and a net margin of 12.24%. As a group, analysts anticipate that Amgen Inc. will post 20.62 EPS for the current year.
Amgen Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be issued a $2.38 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $9.52 annualized dividend and a yield of 3.27%. Amgen's payout ratio is 126.09%.
Amgen Company Profile
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Free Report)
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.
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