Hemington Wealth Management Acquires 119 Shares of Amgen Inc. (NASDAQ:AMGN)

by · The Cerbat Gem

Hemington Wealth Management grew its position in Amgen Inc. (NASDAQ:AMGN – Free Report) by 4.6% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 2,699 shares of the medical research company’s stock after purchasing an additional 119 shares during the quarter. Hemington Wealth Management’s holdings in Amgen were worth $840,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital World Investors increased its position in Amgen by 1,292.0% during the 4th quarter. Capital World Investors now owns 6,495,710 shares of the medical research company’s stock worth $1,693,042,000 after purchasing an additional 6,029,058 shares in the last quarter. GAMMA Investing LLC increased its position in Amgen by 43,573.5% during the 1st quarter. GAMMA Investing LLC now owns 3,661,589 shares of the medical research company’s stock worth $1,140,768,000 after purchasing an additional 3,653,205 shares in the last quarter. Capital International Investors increased its position in Amgen by 40.1% during the 4th quarter. Capital International Investors now owns 12,212,065 shares of the medical research company’s stock worth $3,182,843,000 after purchasing an additional 3,495,503 shares in the last quarter. Northern Trust Corp increased its position in Amgen by 15.8% during the 4th quarter. Northern Trust Corp now owns 6,431,029 shares of the medical research company’s stock worth $1,676,183,000 after purchasing an additional 875,254 shares in the last quarter. Finally, Capital Research Global Investors increased its position in Amgen by 20.7% during the 4th quarter. Capital Research Global Investors now owns 4,890,092 shares of the medical research company’s stock worth $1,274,553,000 after purchasing an additional 839,686 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Amgen

In related news, SVP Rachna Khosla sold 1,500 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $289.68, for a total value of $434,520.00. Following the completion of the sale, the senior vice president directly owned 8,162 shares of the company’s stock, valued at approximately $2,364,368.16. This represents a 15.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.69% of the stock is owned by insiders.

Amgen Price Performance

AMGN opened at $300.08 on Wednesday. The company has a debt-to-equity ratio of 8.70, a quick ratio of 0.88 and a current ratio of 1.17. The stock has a market capitalization of $161.36 billion, a P/E ratio of 27.38, a P/E/G ratio of 2.61 and a beta of 0.49. The company’s 50-day simple moving average is $293.06 and its two-hundred day simple moving average is $292.45. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $339.17.

Amgen (NASDAQ:AMGN – Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, beating the consensus estimate of $5.28 by $0.74. Amgen had a net margin of 17.39% and a return on equity of 176.11%. The firm had revenue of $9.18 billion during the quarter, compared to analyst estimates of $8.86 billion. During the same quarter in the prior year, the firm earned $4.97 EPS. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, analysts predict that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 22nd will be given a dividend of $2.38 per share. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $9.52 annualized dividend and a dividend yield of 3.2%. Amgen’s dividend payout ratio is presently 86.86%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Morgan Stanley restated an “equal weight” rating on shares of Amgen in a research report on Friday, May 2nd. Wall Street Zen upgraded shares of Amgen from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 18th. Cantor Fitzgerald restated a “neutral” rating and issued a $305.00 price target on shares of Amgen in a research report on Tuesday, June 24th. Royal Bank Of Canada decreased their price target on shares of Amgen from $324.00 to $320.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. Finally, Guggenheim assumed coverage on shares of Amgen in a research report on Tuesday, May 20th. They issued a “neutral” rating and a $288.00 price target for the company. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Amgen has a consensus rating of “Hold” and a consensus price target of $307.27.

Check Out Our Latest Research Report on Amgen

Amgen Profile

(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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