PacWest Financial Management Inc Reduces Stake in Amgen Inc. (AMGN)
PacWest Financial Management Inc lowered its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 1.4% during the third quarter, Holdings Channel reports. The institutional investor owned 11,308 shares of the medical research company’s stock after selling 157 shares during the period. PacWest Financial Management Inc’s holdings in Amgen were worth $1,886,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of the stock. Oakworth Capital Inc. increased its position in Amgen by 16.6% in the second quarter. Oakworth Capital Inc. now owns 701 shares of the medical research company’s stock valued at $111,000 after buying an additional 100 shares during the period. Valley National Advisers Inc. increased its position in Amgen by 4.8% in the second quarter. Valley National Advisers Inc. now owns 714 shares of the medical research company’s stock valued at $109,000 after buying an additional 33 shares during the period. Glassman Wealth Services increased its position in Amgen by 480.0% in the second quarter. Glassman Wealth Services now owns 725 shares of the medical research company’s stock valued at $110,000 after buying an additional 600 shares during the period. Integrated Wealth Management increased its position in Amgen by 0.3% in the second quarter. Integrated Wealth Management now owns 930 shares of the medical research company’s stock valued at $141,000 after buying an additional 3 shares during the period. Finally, Delta Asset Management LLC TN increased its position in Amgen by 9.1% in the second quarter. Delta Asset Management LLC TN now owns 1,020 shares of the medical research company’s stock valued at $155,000 after buying an additional 85 shares during the period. 77.98% of the stock is currently owned by institutional investors and hedge funds.
Shares of Amgen Inc. (NASDAQ:AMGN) traded down 1.32% during trading on Wednesday, reaching $144.07. 4,296,889 shares of the company traded hands. Amgen Inc. has a 1-year low of $133.64 and a 1-year high of $176.85. The company has a market capitalization of $107.18 billion, a price-to-earnings ratio of 14.42 and a beta of 1.15. The stock’s 50 day moving average is $151.01 and its 200 day moving average is $160.49.
Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Thursday, October 27th. The medical research company reported $3.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.79 by $0.23. The business earned $5.81 billion during the quarter, compared to analysts’ expectations of $5.73 billion. Amgen had a return on equity of 29.27% and a net margin of 33.63%. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the business posted $2.72 EPS. On average, analysts forecast that Amgen Inc. will post $11.56 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 8th. Stockholders of record on Wednesday, November 16th will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.77%. The ex-dividend date is Monday, November 14th. Amgen’s payout ratio is presently 39.92%.
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Several equities research analysts recently weighed in on the stock. Leerink Swann set a $163.00 price target on shares of Amgen and gave the stock a “hold” rating in a research report on Monday, November 21st. Jefferies Group restated a “buy” rating on shares of Amgen in a research report on Wednesday, September 28th. Vetr upgraded shares of Amgen from a “buy” rating to a “strong-buy” rating and set a $188.11 price target on the stock in a research report on Thursday, September 29th. Robert W. Baird restated an “outperform” rating and issued a $157.00 price target on shares of Amgen in a research report on Friday, August 26th. Finally, Gabelli assumed coverage on shares of Amgen in a research report on Friday, August 26th. They issued a “hold” rating on the stock. One analyst has rated the stock with a sell rating, nine have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $182.04.
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).
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