Reynders McVeigh Capital Management LLC Cuts Stock Position in Amgen Inc. (NASDAQ:AMGN)

Reynders McVeigh Capital Management LLC decreased its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 0.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,074 shares of the medical research company’s stock after selling 59 shares during the period. Reynders McVeigh Capital Management LLC’s holdings in Amgen were worth $2,613,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Briaud Financial Planning Inc acquired a new position in Amgen in the 3rd quarter valued at $26,000. BOK Financial Private Wealth Inc. purchased a new position in shares of Amgen in the fourth quarter worth about $29,000. OFI Invest Asset Management purchased a new position in shares of Amgen in the third quarter worth about $26,000. Planned Solutions Inc. purchased a new stake in Amgen during the 4th quarter valued at about $30,000. Finally, Delos Wealth Advisors LLC raised its holdings in Amgen by 2,500.0% in the 4th quarter. Delos Wealth Advisors LLC now owns 104 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 100 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Trading Down 0.9 %

Shares of Amgen stock traded down $2.71 on Friday, reaching $310.15. 2,611,880 shares of the company’s stock were exchanged, compared to its average volume of 2,907,325. The company has a market capitalization of $166.37 billion, a P/E ratio of 44.31, a price-to-earnings-growth ratio of 2.81 and a beta of 0.60. The firm’s 50-day moving average is $277.62 and its two-hundred day moving average is $282.40. The company has a debt-to-equity ratio of 11.96, a quick ratio of 0.98 and a current ratio of 1.42. Amgen Inc. has a 52 week low of $211.71 and a 52 week high of $329.72.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Thursday, May 2nd. The medical research company reported $3.96 earnings per share for the quarter, beating the consensus estimate of $3.76 by $0.20. Amgen had a return on equity of 156.21% and a net margin of 12.74%. The business had revenue of $7.45 billion during the quarter, compared to analyst estimates of $7.45 billion. During the same period in the prior year, the company earned $3.98 earnings per share. Amgen’s revenue was up 22.0% compared to the same quarter last year. Sell-side analysts predict that Amgen Inc. will post 19.46 EPS for the current fiscal year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be given a dividend of $2.25 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.90%. Amgen’s payout ratio is currently 128.57%.

Insider Transactions at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 2,117 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $313.09, for a total transaction of $662,811.53. Following the sale, the senior vice president now directly owns 9,883 shares in the company, valued at $3,094,268.47. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AMGN. Raymond James started coverage on shares of Amgen in a research report on Thursday, March 28th. They set a “market perform” rating on the stock. Leerink Partnrs lowered shares of Amgen from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 7th. Barclays upgraded Amgen from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $230.00 to $300.00 in a research report on Friday, May 3rd. The Goldman Sachs Group lifted their target price on Amgen from $313.00 to $350.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Finally, Mizuho increased their price target on Amgen from $223.00 to $235.00 and gave the stock a “neutral” rating in a report on Thursday. Ten analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $305.65.

Amgen Company Profile

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.