Alan B Lancz & Associates Inc. Sells 100 Shares of Amgen Inc. (NASDAQ:AMGN)

Alan B Lancz & Associates Inc. cut its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 0.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,675 shares of the medical research company’s stock after selling 100 shares during the quarter. Amgen accounts for approximately 3.5% of Alan B Lancz & Associates Inc.’s holdings, making the stock its 5th biggest position. Alan B Lancz & Associates Inc.’s holdings in Amgen were worth $3,363,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Amgen by 0.3% in the third quarter. Vanguard Group Inc. now owns 49,035,981 shares of the medical research company’s stock valued at $13,178,910,000 after buying an additional 165,636 shares in the last quarter. Northern Trust Corp lifted its holdings in Amgen by 3.8% in the third quarter. Northern Trust Corp now owns 6,977,625 shares of the medical research company’s stock valued at $1,875,306,000 after acquiring an additional 255,463 shares during the period. Royal Bank of Canada boosted its position in shares of Amgen by 11.4% during the 3rd quarter. Royal Bank of Canada now owns 5,079,677 shares of the medical research company’s stock worth $1,365,213,000 after purchasing an additional 518,689 shares in the last quarter. Invesco Ltd. grew its stake in shares of Amgen by 15.9% during the 3rd quarter. Invesco Ltd. now owns 3,356,359 shares of the medical research company’s stock worth $902,055,000 after purchasing an additional 459,340 shares during the period. Finally, California Public Employees Retirement System increased its holdings in shares of Amgen by 22.0% in the 4th quarter. California Public Employees Retirement System now owns 2,716,088 shares of the medical research company’s stock valued at $782,288,000 after purchasing an additional 490,539 shares in the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Amgen

In related news, SVP Nancy A. Grygiel sold 2,117 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $313.09, for a total transaction of $662,811.53. Following the completion of the transaction, the senior vice president now owns 9,883 shares of the company’s stock, valued at $3,094,268.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.46% of the company’s stock.

Amgen Trading Up 11.8 %

AMGN stock traded up $32.90 during midday trading on Friday, hitting $311.29. The stock had a trading volume of 9,644,682 shares, compared to its average volume of 2,279,398. The company’s 50-day moving average price is $274.95 and its 200 day moving average price is $281.50. The company has a debt-to-equity ratio of 10.14, a current ratio of 1.65 and a quick ratio of 1.13. The firm has a market cap of $166.97 billion, a PE ratio of 44.47, a price-to-earnings-growth ratio of 2.69 and a beta of 0.60. Amgen Inc. has a 12-month low of $211.71 and a 12-month high of $329.72.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Thursday, May 2nd. The medical research company reported $3.96 EPS for the quarter, beating analysts’ consensus estimates of $3.76 by $0.20. The business had revenue of $7.45 billion during the quarter, compared to the consensus estimate of $7.45 billion. Amgen had a return on equity of 145.62% and a net margin of 12.74%. The business’s revenue for the quarter was up 22.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.98 earnings per share. On average, equities research analysts predict that Amgen Inc. will post 19.43 earnings per share for the current fiscal year.

Amgen Dividend Announcement

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 issued a dividend of $2.25 per share. The ex-dividend date is Thursday, May 16th. This represents a $9.00 annualized dividend and a dividend yield of 2.89%. Amgen’s payout ratio is currently 128.57%.

Wall Street Analysts Forecast Growth

AMGN has been the topic of several recent analyst reports. SVB Leerink lowered shares of Amgen from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $324.00 to $318.00 in a research report on Wednesday, February 7th. TD Cowen dropped their price objective on Amgen from $370.00 to $360.00 and set a “buy” rating for the company in a research note on Wednesday, April 17th. The Goldman Sachs Group lifted their price objective on Amgen from $313.00 to $350.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. Morgan Stanley upped their target price on Amgen from $271.00 to $310.00 and gave the company an “equal weight” rating in a report on Friday. Finally, Leerink Partnrs downgraded Amgen from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 7th. Ten equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $305.05.

About Amgen

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.