United Bank Inc. increased its stake in Amgen Inc. (NASDAQ:AMGN) by 5.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 27,881 shares of the medical research company’s stock after buying an additional 1,404 shares during the period. Amgen comprises about 2.0% of United Bank Inc.’s portfolio, making the stock its 15th largest position. United Bank Inc.’s holdings in Amgen were worth $4,802,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Capital Management Corp VA boosted its stake in Amgen by 6.3% in the second quarter. Capital Management Corp VA now owns 52,355 shares of the medical research company’s stock worth $9,017,000 after buying an additional 3,125 shares during the last quarter. Dixon Hubard Feinour & Brown Inc. VA boosted its stake in Amgen by 0.5% in the second quarter. Dixon Hubard Feinour & Brown Inc. VA now owns 34,895 shares of the medical research company’s stock worth $6,010,000 after buying an additional 180 shares during the last quarter. TNB Financial boosted its stake in Amgen by 11.3% in the second quarter. TNB Financial now owns 25,269 shares of the medical research company’s stock worth $4,352,000 after buying an additional 2,563 shares during the last quarter. Exane Derivatives boosted its stake in Amgen by 132,000.0% in the second quarter. Exane Derivatives now owns 1,321 shares of the medical research company’s stock worth $227,000 after buying an additional 1,320 shares during the last quarter. Finally, V Wealth Management LLC boosted its stake in Amgen by 0.5% in the second quarter. V Wealth Management LLC now owns 13,189 shares of the medical research company’s stock worth $2,271,000 after buying an additional 64 shares during the last quarter. Institutional investors own 79.12% of the company’s stock.
Shares of Amgen Inc. (NASDAQ AMGN) traded down 0.31% during midday trading on Friday, reaching $167.29. 1,741,936 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $174.04 and a 200-day moving average price of $168.05. The stock has a market cap of $122.07 billion, a P/E ratio of 15.24 and a beta of 1.35. Amgen Inc. has a 52-week low of $133.64 and a 52-week high of $184.21.
Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, July 25th. The medical research company reported $3.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.11 by $0.16. Amgen had a net margin of 35.46% and a return on equity of 29.85%. The company had revenue of $5.81 billion for the quarter, compared to the consensus estimate of $5.67 billion. During the same quarter in the previous year, the company earned $2.84 EPS. Amgen’s quarterly revenue was up 2.1% compared to the same quarter last year. Analysts forecast that Amgen Inc. will post $12.57 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Thursday, August 17th will be given a dividend of $1.15 per share. The ex-dividend date of this dividend is Tuesday, August 15th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.75%. Amgen’s payout ratio is presently 41.93%.
AMGN has been the topic of a number of analyst reports. Oppenheimer Holdings, Inc. set a $189.00 target price on shares of Amgen and gave the company a “buy” rating in a research note on Tuesday, May 9th. Mizuho set a $195.00 target price on shares of Amgen and gave the company a “buy” rating in a research note on Saturday, May 6th. Cowen and Company reissued a “buy” rating and issued a $209.00 target price on shares of Amgen in a research note on Thursday, April 27th. BMO Capital Markets restated a “buy” rating and issued a $198.00 price target (down from $200.00) on shares of Amgen in a research report on Monday, May 22nd. Finally, ValuEngine upgraded shares of Amgen from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. Amgen presently has a consensus rating of “Buy” and an average target price of $186.64.
In related news, SVP Cynthia M. Patton sold 2,922 shares of the business’s stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $154.40, for a total transaction of $451,156.80. Following the transaction, the senior vice president now owns 24,214 shares in the company, valued at approximately $3,738,641.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.20% of the stock is owned by insiders.
Amgen Company Profile
Amgen Inc is a biotechnology company. The Company discovers, develops, manufactures and delivers various human therapeutics. It operates in human therapeutics segment. 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 KYPROLIS (carfilzomib), Vectibix (panitumumab), Nplate (romiplostim), Repatha (evolocumab), BLINCYTO (blinatumomab), IMLYGIC (talimogene laherparepvec) and Corlanor (ivabradine).
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