Clear Harbor Asset Management LLC Grows Position in Amgen, Inc. (NASDAQ:AMGN)

Clear Harbor Asset Management LLC increased its position in shares of Amgen, Inc. (NASDAQ:AMGN) by 13.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,329 shares of the medical research company’s stock after buying an additional 884 shares during the period. Clear Harbor Asset Management LLC’s holdings in Amgen were worth $1,729,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Price Wealth LLC increased its stake in Amgen by 42.9% in the second quarter. Price Wealth LLC now owns 140 shares of the medical research company’s stock valued at $33,000 after purchasing an additional 42 shares during the last quarter. Lake Point Wealth Management increased its stake in Amgen by 1,590.0% in the first quarter. Lake Point Wealth Management now owns 169 shares of the medical research company’s stock valued at $34,000 after purchasing an additional 159 shares during the last quarter. Column Capital Advisors LLC increased its stake in Amgen by 98.0% in the first quarter. Column Capital Advisors LLC now owns 194 shares of the medical research company’s stock valued at $39,000 after purchasing an additional 96 shares during the last quarter. Providence Capital Advisors LLC purchased a new position in Amgen in the first quarter valued at approximately $47,000. Finally, Campbell Wealth Management purchased a new position in Amgen in the second quarter valued at approximately $51,000. Hedge funds and other institutional investors own 75.73% of the company’s stock.

In other news, Director Ronald D. Sugar sold 1,000 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $229.27, for a total value of $229,270.00. Following the completion of the transaction, the director now owns 16,482 shares in the company, valued at $3,778,828.14. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director R Sanders Williams sold 250 shares of the firm’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $242.95, for a total value of $60,737.50. Following the completion of the transaction, the director now owns 5,159 shares of the company’s stock, valued at approximately $1,253,379.05. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,250 shares of company stock valued at $778,338. Company insiders own 0.36% of the company’s stock.

Several equities analysts have commented on the stock. Barclays increased their price target on shares of Amgen from $245.00 to $250.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 29th. Credit Suisse Group reiterated a “buy” rating on shares of Amgen in a research note on Wednesday, July 29th. Bank of America increased their price objective on Amgen from $250.00 to $265.00 and gave the company a “buy” rating in a report on Friday, May 1st. SunTrust Banks increased their price objective on Amgen from $254.00 to $268.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Finally, BMO Capital Markets increased their price objective on Amgen from $274.00 to $291.00 and gave the company an “outperform” rating in a report on Friday, May 1st. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eighteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $253.15.

Amgen stock traded down $3.52 during midday trading on Wednesday, reaching $234.65. The company’s stock had a trading volume of 2,296,500 shares, compared to its average volume of 2,886,693. Amgen, Inc. has a fifty-two week low of $177.05 and a fifty-two week high of $264.97. The company has a debt-to-equity ratio of 3.20, a quick ratio of 1.81 and a current ratio of 2.18. The stock’s 50 day simple moving average is $247.61 and its 200 day simple moving average is $227.45. The firm has a market capitalization of $141.57 billion, a PE ratio of 19.75, a P/E/G ratio of 2.02 and a beta of 0.92.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, July 28th. The medical research company reported $4.25 EPS for the quarter, beating analysts’ consensus estimates of $3.81 by $0.44. Amgen had a return on equity of 91.98% and a net margin of 30.04%. The company had revenue of $6.21 billion during the quarter, compared to the consensus estimate of $6.19 billion. During the same quarter last year, the company earned $3.97 earnings per share. Amgen’s quarterly revenue was up 5.7% compared to the same quarter last year. Equities analysts predict that Amgen, Inc. will post 15.64 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Monday, August 17th will be given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date is Friday, August 14th. Amgen’s dividend payout ratio is currently 43.18%.

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.

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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