Palouse Capital Management Inc. bought a new stake in Amgen Inc. (NASDAQ:AMGN) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 34,309 shares of the medical research company’s stock, valued at approximately $5,220,000. Amgen comprises approximately 2.1% of Palouse Capital Management Inc.’s holdings, making the stock its 14th largest position.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Oak Associates Ltd. OH increased its position in shares of Amgen by 0.3% in the first quarter. Oak Associates Ltd. OH now owns 210,710 shares of the medical research company’s stock worth $31,592,000 after buying an additional 581 shares during the period. PGGM Investments increased its position in shares of Amgen by 9.7% in the second quarter. PGGM Investments now owns 725,684 shares of the medical research company’s stock worth $110,413,000 after buying an additional 64,011 shares during the period. National Pension Service increased its position in shares of Amgen by 4.2% in the first quarter. National Pension Service now owns 378,322 shares of the medical research company’s stock worth $56,722,000 after buying an additional 15,376 shares during the period. Geode Capital Management LLC increased its position in shares of Amgen by 2.1% in the first quarter. Geode Capital Management LLC now owns 6,444,273 shares of the medical research company’s stock worth $964,334,000 after buying an additional 132,632 shares during the period. Finally, Prudential PLC increased its position in shares of Amgen by 41.4% in the first quarter. Prudential PLC now owns 1,062,893 shares of the medical research company’s stock worth $159,359,000 after buying an additional 311,157 shares during the period. Hedge funds and other institutional investors own 79.15% of the company’s stock.
Amgen Inc. (NASDAQ:AMGN) traded up 0.36% on Friday, reaching $167.50. 1,679,823 shares of the company’s stock were exchanged. Amgen Inc. has a one year low of $139.02 and a one year high of $176.85. The stock has a market cap of $125.35 billion, a price-to-earnings ratio of 17.14 and a beta of 0.94. The firm has a 50 day moving average of $170.75 and a 200-day moving average of $161.82.
Amgen (NASDAQ:AMGN) last released its earnings results on Wednesday, July 27th. The medical research company reported $2.84 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.74 by $0.10. Amgen had a net margin of 33.07% and a return on equity of 29.30%. The business earned $5.69 billion during the quarter, compared to analyst estimates of $5.58 billion. During the same quarter in the prior year, the firm earned $2.57 earnings per share. The company’s revenue for the quarter was up 5.9% compared to the same quarter last year. Equities research analysts forecast that Amgen Inc. will post $11.35 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 8th. Stockholders of record on Wednesday, August 17th were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date of this dividend was Monday, August 15th. Amgen’s payout ratio is 40.90%.
A number of analysts have commented on AMGN shares. BMO Capital Markets reaffirmed a “buy” rating and set a $186.00 target price on shares of Amgen in a report on Tuesday, July 12th. Vetr raised shares of Amgen from a “sell” rating to a “hold” rating and set a $165.78 target price for the company in a report on Wednesday, July 27th. Leerink Swann reaffirmed a “hold” rating on shares of Amgen in a report on Saturday, September 17th. Zacks Investment Research cut shares of Amgen from a “buy” rating to a “hold” rating in a report on Monday, August 1st. Finally, Goldman Sachs Group Inc. reaffirmed a “buy” rating and set a $206.00 target price (up from $204.00) on shares of Amgen in a report on Tuesday, September 27th. One analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $184.94.
In other news, VP Annette Louise Such sold 3,000 shares of the company’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $174.59, for a total transaction of $523,770.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.20% of the company’s stock.
Amgen Company Profile
Amgen Inc is a biotechnology company. The Company discovers, develops, manufactures and delivers various human therapeutics. The Company’s business segment is human therapeutics. Its marketed products portfolio includes Neulasta (pegfilgrastim); erythropoiesis-stimulating agents (ESAs), such as Aranesp (darbepoetin alfa) and EPOGEN (epoetin alfa); Sensipar/Mimpara (cinacalcet); XGEVA (denosumab); Prolia (denosumab); NEUPOGEN (filgrastim), and other marketed products, such as Vectibix (panitumumab), Nplate (romiplostim) and Corlanor (ivabradine).