First Republic Investment Management Inc. Boosts Stake in Amgen, Inc. (AMGN)

First Republic Investment Management Inc. lifted its holdings in shares of Amgen, Inc. (NASDAQ:AMGN) by 2.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 597,683 shares of the medical research company’s stock after buying an additional 16,184 shares during the period. First Republic Investment Management Inc. owned approximately 0.09% of Amgen worth $110,327,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in AMGN. Beutel Goodman & Co Ltd. purchased a new position in Amgen during the second quarter worth about $86,723,000. Schwab Charles Investment Management Inc. raised its holdings in Amgen by 2.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 3,207,242 shares of the medical research company’s stock worth $592,025,000 after purchasing an additional 72,205 shares in the last quarter. Perpetual Ltd raised its holdings in Amgen by 10.3% during the second quarter. Perpetual Ltd now owns 8,554 shares of the medical research company’s stock worth $1,582,000 after purchasing an additional 800 shares in the last quarter. Ancora Advisors LLC purchased a new position in Amgen during the first quarter worth about $3,520,000. Finally, Swiss National Bank raised its holdings in Amgen by 3.2% during the second quarter. Swiss National Bank now owns 2,227,926 shares of the medical research company’s stock worth $411,253,000 after purchasing an additional 69,500 shares in the last quarter. Institutional investors and hedge funds own 82.48% of the company’s stock.

A number of research analysts have issued reports on AMGN shares. Cann reaffirmed a “buy” rating and issued a $224.00 target price on shares of Amgen in a report on Monday, July 30th. Oppenheimer reaffirmed a “buy” rating and issued a $224.00 target price on shares of Amgen in a report on Tuesday, August 28th. Mizuho reaffirmed a “buy” rating and issued a $200.00 target price on shares of Amgen in a report on Friday, July 27th. Goldman Sachs Group reaffirmed a “buy” rating and issued a $228.00 target price on shares of Amgen in a report on Friday, July 27th. Finally, Zacks Investment Research raised shares of Amgen from a “hold” rating to a “buy” rating and set a $234.00 price objective for the company in a research note on Monday, October 1st. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $204.77.

In other Amgen news, EVP Sean E. Harper sold 1,525 shares of Amgen stock in a transaction on Monday, July 16th. The shares were sold at an average price of $195.71, for a total value of $298,457.75. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.27% of the stock is owned by company insiders.

NASDAQ AMGN traded up $0.55 during mid-day trading on Friday, reaching $204.02. 2,480,971 shares of the stock were exchanged, compared to its average volume of 3,578,064. The firm has a market cap of $134.17 billion, a P/E ratio of 16.22, a price-to-earnings-growth ratio of 2.02 and a beta of 1.40. Amgen, Inc. has a 1-year low of $163.31 and a 1-year high of $210.19. The company has a debt-to-equity ratio of 2.03, a quick ratio of 3.12 and a current ratio of 3.39.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Thursday, July 26th. The medical research company reported $3.83 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.52 by $0.31. The company had revenue of $6.06 billion for the quarter, compared to analyst estimates of $5.73 billion. Amgen had a net margin of 10.19% and a return on equity of 43.18%. Amgen’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter last year, the business earned $3.27 EPS. As a group, equities analysts predict that Amgen, Inc. will post 13.96 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 7th. Shareholders of record on Friday, August 17th were issued a $1.32 dividend. The ex-dividend date of this dividend was Thursday, August 16th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 2.59%. Amgen’s dividend payout ratio (DPR) is presently 41.97%.

Amgen Company Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, nephrology, and neuroscience. The company's products include Evenity to treat osteoporosis in postmenopausal women; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Repatha to treat coronary diseases; Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Parsabiv to treat secondary hyperparathyroidism (sHPT); and Aimovig for the prevention of migraine.

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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