Lowe Brockenbrough & Co. Inc. raised its position in shares of Amgen, Inc. (NASDAQ:AMGN) by 0.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,380 shares of the medical research company’s stock after buying an additional 155 shares during the quarter. Lowe Brockenbrough & Co. Inc.’s holdings in Amgen were worth $5,879,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Nuveen Asset Management LLC boosted its stake in Amgen by 1,334.9% during the 2nd quarter. Nuveen Asset Management LLC now owns 4,942,807 shares of the medical research company’s stock valued at $910,860,000 after purchasing an additional 4,598,329 shares in the last quarter. BlackRock Inc. boosted its stake in Amgen by 3.4% during the 2nd quarter. BlackRock Inc. now owns 47,717,316 shares of the medical research company’s stock valued at $8,793,346,000 after purchasing an additional 1,585,911 shares in the last quarter. Ruffer LLP bought a new position in Amgen during the 2nd quarter valued at $192,788,000. Railway Pension Investments Ltd boosted its stake in Amgen by 158.2% during the 3rd quarter. Railway Pension Investments Ltd now owns 651,796 shares of the medical research company’s stock valued at $126,129,000 after purchasing an additional 399,317 shares in the last quarter. Finally, Beutel Goodman & Co Ltd. boosted its stake in Amgen by 50.5% during the 2nd quarter. Beutel Goodman & Co Ltd. now owns 1,100,511 shares of the medical research company’s stock valued at $154,859,000 after purchasing an additional 369,142 shares in the last quarter. Institutional investors and hedge funds own 76.64% of the company’s stock.
AMGN has been the subject of a number of research reports. Mizuho reaffirmed a “hold” rating and set a $212.00 price target on shares of Amgen in a research note on Sunday, September 29th. BidaskClub raised Amgen from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, November 13th. Cantor Fitzgerald raised Amgen from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $230.00 to $255.00 in a research note on Tuesday, November 5th. Royal Bank of Canada reissued a “hold” rating on shares of Amgen in a research note on Monday, September 30th. Finally, Credit Suisse Group reissued an “outperform” rating and set a $225.00 price objective (up from $202.00) on shares of Amgen in a research note on Friday, August 16th. Ten analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $221.47.
Shares of NASDAQ:AMGN traded up $1.11 during midday trading on Wednesday, hitting $233.88. 1,905,924 shares of the stock were exchanged, compared to its average volume of 2,862,937. The company has a debt-to-equity ratio of 2.54, a quick ratio of 2.59 and a current ratio of 2.89. Amgen, Inc. has a 52-week low of $166.30 and a 52-week high of $235.80. The business’s fifty day simple moving average is $217.76 and its two-hundred day simple moving average is $195.11. The company has a market capitalization of $139.47 billion, a PE ratio of 16.24, a P/E/G ratio of 2.37 and a beta of 1.12.
Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, October 29th. The medical research company reported $3.66 earnings per share for the quarter, beating the Thomson Reuters’ 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 for the quarter, compared to analyst estimates of $5.63 billion. During the same period last year, the company earned $3.69 earnings per share. The business’s revenue was down 2.8% compared to the same quarter last year. As a group, equities analysts anticipate that Amgen, Inc. will post 14.65 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be issued a dividend of $1.45 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $5.80 annualized dividend and a yield of 2.48%. Amgen’s dividend payout ratio (DPR) is currently 40.28%.
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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