Prudential PLC Lowers Stake in Amgen, Inc. (AMGN)

Prudential PLC cut its position in Amgen, Inc. (NASDAQ:AMGN) by 7.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 904,057 shares of the medical research company’s stock after selling 68,720 shares during the quarter. Prudential PLC owned approximately 0.14% of Amgen worth $175,993,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of AMGN. Blue Fin Capital Inc. boosted its position in shares of Amgen by 10.0% during the 3rd quarter. Blue Fin Capital Inc. now owns 7,449 shares of the medical research company’s stock valued at $1,544,000 after acquiring an additional 677 shares during the last quarter. Renaissance Technologies LLC lifted its position in Amgen by 8.2% in the 3rd quarter. Renaissance Technologies LLC now owns 4,115,145 shares of the medical research company’s stock worth $853,028,000 after buying an additional 311,545 shares during the last quarter. Wedbush Securities Inc. lifted its position in Amgen by 7.3% in the 3rd quarter. Wedbush Securities Inc. now owns 21,629 shares of the medical research company’s stock worth $4,483,000 after buying an additional 1,470 shares during the last quarter. Bailard Inc. lifted its position in Amgen by 46.1% in the 3rd quarter. Bailard Inc. now owns 6,697 shares of the medical research company’s stock worth $1,388,000 after buying an additional 2,114 shares during the last quarter. Finally, First Republic Investment Management Inc. lifted its position in Amgen by 1.3% in the 3rd quarter. First Republic Investment Management Inc. now owns 605,209 shares of the medical research company’s stock worth $125,453,000 after buying an additional 7,526 shares during the last quarter. Institutional investors and hedge funds own 79.18% of the company’s stock.

In related news, Director Ronald D. Sugar sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $188.88, for a total value of $377,760.00. Following the completion of the sale, the director now owns 14,988 shares in the company, valued at $2,830,933.44. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last 90 days, insiders sold 6,000 shares of company stock valued at $1,144,120. 0.27% of the stock is owned by insiders.

NASDAQ:AMGN traded down $3.47 during trading hours on Wednesday, reaching $184.58. 36,350 shares of the stock were exchanged, compared to its average volume of 2,205,140. The company has a quick ratio of 2.57, a current ratio of 2.79 and a debt-to-equity ratio of 2.36. Amgen, Inc. has a twelve month low of $165.22 and a twelve month high of $210.19. The stock has a market capitalization of $115.83 billion, a price-to-earnings ratio of 12.79, a price-to-earnings-growth ratio of 2.34 and a beta of 1.21.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, January 29th. The medical research company reported $3.42 EPS for the quarter, topping analysts’ consensus estimates of $3.26 by $0.16. The company had revenue of $6.23 billion for the quarter, compared to analysts’ expectations of $5.88 billion. Amgen had a return on equity of 66.74% and a net margin of 35.35%. During the same period in the prior year, the firm earned $2.89 earnings per share. On average, sell-side analysts expect that Amgen, Inc. will post 13.96 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be given a $1.45 dividend. The ex-dividend date is Thursday, May 16th. This represents a $5.80 dividend on an annualized basis and a yield of 3.14%. Amgen’s payout ratio is currently 40.28%.

Several analysts have weighed in on the company. Mizuho set a $208.00 price objective on Amgen and gave the company a “buy” rating in a research report on Friday, April 12th. Zacks Investment Research downgraded Amgen from a “buy” rating to a “hold” rating in a research note on Wednesday, January 23rd. BidaskClub cut Amgen from a “buy” rating to a “hold” rating in a research report on Wednesday, February 20th. Royal Bank of Canada reissued a “neutral” rating and issued a price objective on shares of Amgen in a report on Monday, January 14th. Finally, Morgan Stanley decreased their price objective on Amgen from $213.00 to $212.00 and set an “overweight” rating for the company in a report on Wednesday, December 19th. Eleven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Amgen currently has a consensus rating of “Hold” and a consensus price target of $209.11.

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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, 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.

Further Reading: Balance Sheet

Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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