OVERSEA CHINESE BANKING Corp Ltd Buys New Holdings in Amgen Inc. (NASDAQ:AMGN)

OVERSEA CHINESE BANKING Corp Ltd purchased a new position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 842 shares of the medical research company's stock, valued at approximately $219,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Trillium Asset Management LLC lifted its holdings in shares of Amgen by 4.2% during the fourth quarter. Trillium Asset Management LLC now owns 911 shares of the medical research company's stock valued at $237,000 after acquiring an additional 37 shares during the period. Generali Asset Management SPA SGR acquired a new position in Amgen in the fourth quarter valued at about $15,858,000. Horizon Investments LLC grew its stake in Amgen by 1.9% during the fourth quarter. Horizon Investments LLC now owns 14,820 shares of the medical research company's stock worth $3,863,000 after buying an additional 281 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in shares of Amgen by 1.0% in the fourth quarter. Thrivent Financial for Lutherans now owns 494,082 shares of the medical research company's stock valued at $129,129,000 after acquiring an additional 4,997 shares during the last quarter. Finally, Kensington Investment Counsel LLC boosted its holdings in shares of Amgen by 4.5% in the 4th quarter. Kensington Investment Counsel LLC now owns 15,050 shares of the medical research company's stock worth $3,923,000 after acquiring an additional 651 shares in the last quarter. Institutional investors own 76.50% of the company's stock.

Remove Ads

Analyst Ratings Changes

Several brokerages have recently commented on AMGN. StockNews.com cut Amgen from a "strong-buy" rating to a "buy" rating in a report on Wednesday, December 18th. Leerink Partners lowered their price objective on shares of Amgen from $349.00 to $302.00 in a research report on Wednesday, November 27th. Royal Bank of Canada reiterated an "outperform" rating and set a $324.00 target price on shares of Amgen in a research report on Friday, January 24th. Bank of America increased their price target on shares of Amgen from $275.00 to $294.00 and gave the company an "underperform" rating in a research note on Wednesday, March 5th. Finally, Citigroup reiterated a "neutral" rating on shares of Amgen in a research report on Wednesday, February 5th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Amgen currently has an average rating of "Hold" and a consensus target price of $314.04.

Insider Buying and Selling at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 1,589 shares of the firm's 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 $2,195,228.70. This trade represents a 18.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP David M. Reese sold 8,711 shares of the company's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $293.22, for a total value of $2,554,239.42. Following the sale, the executive vice president now owns 62,147 shares in the company, valued at approximately $18,222,743.34. This represents a 12.29 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 69,341 shares of company stock worth $20,644,335. Insiders own 0.69% of the company's stock.

Amgen Stock Down 2.4 %

Shares of AMGN traded down $7.52 during midday trading on Tuesday, hitting $306.86. The stock had a trading volume of 2,564,825 shares, compared to its average volume of 2,551,876. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95. The firm has a market cap of $164.85 billion, a price-to-earnings ratio of 40.64, a price-to-earnings-growth ratio of 2.63 and a beta of 0.53. The company has a 50 day simple moving average of $298.13 and a two-hundred day simple moving average of $298.50. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85.

Amgen (NASDAQ:AMGN - Get Free Report) last released its earnings results on Tuesday, February 4th. The medical research company reported $5.31 EPS for the quarter, beating the consensus estimate of $5.04 by $0.27. Amgen had a return on equity of 176.32% and a net margin of 12.24%. On average, analysts anticipate that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be given a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date is Friday, May 16th. Amgen's dividend payout ratio (DPR) is currently 126.09%.

Amgen Company Profile

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.