Altavista Wealth Management Inc. Cuts Stock Position in Amgen, Inc. (NASDAQ:AMGN)

Altavista Wealth Management Inc. lessened its stake in Amgen, Inc. (NASDAQ:AMGN) by 2.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,679 shares of the medical research company’s stock after selling 157 shares during the period. Altavista Wealth Management Inc.’s holdings in Amgen were worth $1,099,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Gifford Fong Associates grew its stake in shares of Amgen by 25.3% during the second quarter. Gifford Fong Associates now owns 67,671 shares of the medical research company’s stock worth $12,470,000 after acquiring an additional 13,671 shares during the last quarter. Bray Capital Advisors grew its stake in shares of Amgen by 11.6% during the second quarter. Bray Capital Advisors now owns 19,676 shares of the medical research company’s stock worth $3,626,000 after acquiring an additional 2,045 shares during the last quarter. CHICAGO TRUST Co NA grew its stake in shares of Amgen by 2.8% during the second quarter. CHICAGO TRUST Co NA now owns 3,716 shares of the medical research company’s stock worth $685,000 after acquiring an additional 100 shares during the last quarter. Private Advisor Group LLC grew its stake in shares of Amgen by 4.0% during the second quarter. Private Advisor Group LLC now owns 38,488 shares of the medical research company’s stock worth $7,093,000 after acquiring an additional 1,494 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in shares of Amgen during the second quarter worth about $15,515,000. Institutional investors and hedge funds own 76.33% of the company’s stock.

A number of equities research analysts recently commented on AMGN shares. Bank of America started coverage on Amgen in a report on Wednesday, October 16th. They set a “neutral” rating and a $215.00 target price for the company. Wells Fargo & Co reaffirmed a “market perform” rating and set a $220.00 target price (up previously from $202.00) on shares of Amgen in a report on Tuesday, August 27th. They noted that the move was a valuation call. Citigroup reaffirmed a “buy” rating on shares of Amgen in a report on Monday, August 12th. Evercore ISI reaffirmed a “hold” rating on shares of Amgen in a report on Sunday, August 11th. Finally, Mizuho reaffirmed a “hold” rating and set a $212.00 target price on shares of Amgen in a report on Sunday, September 29th. Ten analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $219.56.

In other Amgen news, SVP Cynthia M. Patton sold 13,426 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $208.07, for a total value of $2,793,547.82. Following the completion of the transaction, the senior vice president now directly owns 32,648 shares of the company’s stock, valued at $6,793,069.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director R Sanders Williams sold 425 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $215.45, for a total value of $91,566.25. Following the completion of the transaction, the director now directly owns 5,413 shares of the company’s stock, valued at $1,166,230.85. The disclosure for this sale can be found here. Insiders sold 17,851 shares of company stock valued at $3,685,674 over the last three months. 0.25% of the stock is currently owned by corporate insiders.

Shares of NASDAQ:AMGN opened at $220.70 on Tuesday. Amgen, Inc. has a 12-month low of $166.30 and a 12-month high of $221.38. The company has a market capitalization of $127.80 billion, a PE ratio of 15.33, a PEG ratio of 2.21 and a beta of 1.09. The business has a 50 day moving average of $203.70 and a two-hundred day moving average of $189.34. The company has a current ratio of 2.89, a quick ratio of 2.59 and a debt-to-equity ratio of 2.54.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, October 29th. The medical research company reported $3.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.53 by $0.13. Amgen had a return on equity of 80.26% and a net margin of 34.48%. The company had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.63 billion. During the same period in the previous year, the company posted $3.69 earnings per share. Amgen’s revenue for the quarter was down 2.8% on a year-over-year basis. Equities research analysts predict that Amgen, Inc. will post 14.44 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be issued a $1.45 dividend. This represents a $5.80 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date of this dividend is Thursday, November 14th. Amgen’s payout ratio is presently 40.28%.

Amgen 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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