Redpoint Investment Management Pty Ltd boosted its stake in Amgen Inc. (NASDAQ:AMGN) by 2.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,348 shares of the medical research company’s stock after acquiring an additional 428 shares during the period. Redpoint Investment Management Pty Ltd’s holdings in Amgen were worth $3,529,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of AMGN. State Street Corp increased its position in Amgen by 19.1% during the 3rd quarter. State Street Corp now owns 31,278,999 shares of the medical research company’s stock worth $7,949,870,000 after purchasing an additional 5,016,641 shares during the period. Morgan Stanley increased its position in Amgen by 7.0% during the 3rd quarter. Morgan Stanley now owns 8,565,891 shares of the medical research company’s stock worth $2,177,107,000 after purchasing an additional 561,293 shares during the period. Nuveen Asset Management LLC increased its position in Amgen by 2.5% during the 3rd quarter. Nuveen Asset Management LLC now owns 3,997,342 shares of the medical research company’s stock worth $1,015,964,000 after purchasing an additional 95,701 shares during the period. California Public Employees Retirement System increased its position in Amgen by 42.8% during the 3rd quarter. California Public Employees Retirement System now owns 1,956,860 shares of the medical research company’s stock worth $497,356,000 after purchasing an additional 586,896 shares during the period. Finally, Candriam Luxembourg S.C.A. increased its position in Amgen by 44.9% during the 3rd quarter. Candriam Luxembourg S.C.A. now owns 1,262,359 shares of the medical research company’s stock worth $320,827,000 after purchasing an additional 391,069 shares during the period. Hedge funds and other institutional investors own 75.23% of the company’s stock.
In other Amgen news, Director R Sanders Williams sold 250 shares of the company’s stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $242.40, for a total value of $60,600.00. Following the completion of the transaction, the director now owns 4,909 shares in the company, valued at approximately $1,189,941.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.36% of the stock is owned by corporate insiders.
AMGN has been the topic of several recent analyst reports. BidaskClub upgraded Amgen from a “strong sell” rating to a “sell” rating in a research report on Friday, January 1st. BMO Capital Markets lowered their price target on Amgen from $308.00 to $304.00 and set an “outperform” rating on the stock in a report on Thursday, October 29th. SVB Leerink raised their price objective on Amgen from $243.00 to $253.00 and gave the company a “market perform” rating in a research note on Wednesday, December 9th. Oppenheimer began coverage on Amgen in a research report on Sunday, December 27th. They set a “buy” rating and a $266.00 target price on the stock. Finally, Credit Suisse Group dropped their price target on Amgen from $286.00 to $284.00 and set an “outperform” rating for the company in a research report on Tuesday, October 27th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and eighteen have issued a buy rating to the company’s stock. Amgen presently has a consensus rating of “Hold” and an average target price of $254.92.
AMGN traded up $1.15 during midday trading on Wednesday, hitting $237.74. The company’s stock had a trading volume of 1,410,746 shares, compared to its average volume of 2,534,906. The company has a current ratio of 2.28, a quick ratio of 1.88 and a debt-to-equity ratio of 3.12. The firm has a market cap of $138.40 billion, a P/E ratio of 19.18, a PEG ratio of 1.85 and a beta of 0.76. The firm has a 50-day moving average price of $227.94 and a two-hundred day moving average price of $238.44. Amgen Inc. has a 52-week low of $177.05 and a 52-week high of $264.97.
Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Monday, November 2nd. The medical research company reported $4.37 EPS for the quarter, beating the consensus estimate of $3.75 by $0.62. The company had revenue of $6.42 billion during the quarter, compared to analysts’ expectations of $6.38 billion. Amgen had a return on equity of 95.55% and a net margin of 29.42%. On average, equities analysts expect that Amgen Inc. will post 16.15 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, March 8th. Shareholders of record on Monday, February 15th will be issued a $1.76 dividend. This represents a $7.04 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date of this dividend is Thursday, February 11th. This is a boost from Amgen’s previous quarterly dividend of $1.60. Amgen’s dividend payout ratio is currently 43.18%.
Amgen Company Profile
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology and neuroscience areas. 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; Xgeva for skeletal-related events prevention; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Sensipar/Mimpara to treat secondary hyperparathyroidism; and EPOGEN to treat anemia caused by chronic kidney disease.
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