Moneta Group Investment Advisors LLC Increases Stake in Amgen, Inc. (NASDAQ:AMGN)
Moneta Group Investment Advisors LLC lifted its position in Amgen, Inc. (NASDAQ:AMGN) by 2,164.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 66,023 shares of the medical research company’s stock after acquiring an additional 63,107 shares during the quarter. Moneta Group Investment Advisors LLC’s holdings in Amgen were worth $529,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the company. Comprehensive Portfolio Management LLC lifted its holdings in shares of Amgen by 1.7% in the first quarter. Comprehensive Portfolio Management LLC now owns 3,685 shares of the medical research company’s stock worth $700,000 after buying an additional 63 shares in the last quarter. Sabal Trust CO lifted its position in Amgen by 0.6% during the first quarter. Sabal Trust CO now owns 145,535 shares of the medical research company’s stock valued at $27,648,000 after purchasing an additional 879 shares during the last quarter. CAPROCK Group Inc. grew its stake in Amgen by 13.6% in the 1st quarter. CAPROCK Group Inc. now owns 7,205 shares of the medical research company’s stock worth $1,369,000 after buying an additional 860 shares in the last quarter. DeDora Capital Inc. increased its holdings in shares of Amgen by 5.2% in the 1st quarter. DeDora Capital Inc. now owns 5,931 shares of the medical research company’s stock worth $1,127,000 after buying an additional 295 shares during the last quarter. Finally, Ipswich Investment Management Co. Inc. increased its holdings in shares of Amgen by 1.5% in the 1st quarter. Ipswich Investment Management Co. Inc. now owns 25,669 shares of the medical research company’s stock worth $4,877,000 after buying an additional 388 shares during the last quarter. Hedge funds and other institutional investors own 76.28% of the company’s stock.
Amgen stock traded down $1.44 during trading hours on Wednesday, reaching $195.43. The company had a trading volume of 1,028,251 shares, compared to its average volume of 2,929,147. The company has a debt-to-equity ratio of 2.58, a current ratio of 2.89 and a quick ratio of 2.60. Amgen, Inc. has a 12-month low of $166.30 and a 12-month high of $211.90. The company has a 50-day moving average price of $195.79 and a 200 day moving average price of $185.11. The firm has a market cap of $121.34 billion, a price-to-earnings ratio of 13.57, a P/E/G ratio of 2.37 and a beta of 1.11.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Thursday, August 15th were paid a dividend of $1.45 per share. This represents a $5.80 annualized dividend and a dividend yield of 2.97%. The ex-dividend date of this dividend was Wednesday, August 14th. Amgen’s dividend payout ratio (DPR) is 40.28%.
A number of analysts have recently issued reports on the stock. Oppenheimer lifted their price objective on shares of Amgen from $230.00 to $240.00 in a report on Tuesday, August 27th. BMO Capital Markets raised their price target on Amgen from $230.00 to $240.00 and gave the company an “outperform” rating in a research report on Tuesday, August 27th. Cowen set a $231.00 price target on Amgen and gave the company a “buy” rating in a research report on Thursday, August 22nd. Wells Fargo & Co reaffirmed a “market perform” rating and set a $220.00 price target (up previously from $202.00) on shares of Amgen in a research note on Tuesday, August 27th. They noted that the move was a valuation call. Finally, BidaskClub upgraded Amgen from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $217.33.
In related news, Director Ronald D. Sugar sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $187.58, for a total transaction of $375,160.00. Following the completion of the transaction, the director now owns 16,336 shares in the company, valued at $3,064,306.88. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Cynthia M. Patton sold 13,426 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $208.07, for a total value of $2,793,547.82. Following the transaction, the senior vice president now owns 32,648 shares of the company’s stock, valued at approximately $6,793,069.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,851 shares of company stock valued at $3,659,900. 0.25% of the stock is currently owned by company insiders.
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, and neuroscience. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Aranesp to treat anemia; Xgeva for skeletal-related events prevention; Sensipar/Mimpara products to treat sHPT in chronic kidney disease; and EPOGEN to treat a lower-than-normal number of red blood cells.
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