Mediolanum International Funds Ltd Increases Position in Amgen Inc. (NASDAQ:AMGN)

Mediolanum International Funds Ltd raised its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 8.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,539 shares of the medical research company’s stock after purchasing an additional 1,989 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Amgen were worth $6,347,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of AMGN. Cadinha & Co. LLC boosted its stake in Amgen by 0.6% during the 3rd quarter. Cadinha & Co. LLC now owns 5,209 shares of the medical research company’s stock valued at $1,678,000 after acquiring an additional 32 shares during the last quarter. Lansing Street Advisors raised its position in shares of Amgen by 1.3% during the 3rd quarter. Lansing Street Advisors now owns 2,582 shares of the medical research company’s stock valued at $832,000 after acquiring an additional 32 shares in the last quarter. Unionview LLC lifted its stake in Amgen by 3.8% during the third quarter. Unionview LLC now owns 876 shares of the medical research company’s stock worth $282,000 after purchasing an additional 32 shares during the last quarter. Traveka Wealth LLC boosted its holdings in Amgen by 4.3% in the third quarter. Traveka Wealth LLC now owns 807 shares of the medical research company’s stock worth $260,000 after purchasing an additional 33 shares during the period. Finally, AM Investment Strategies LLC increased its stake in Amgen by 0.4% during the third quarter. AM Investment Strategies LLC now owns 7,471 shares of the medical research company’s stock valued at $2,407,000 after purchasing an additional 33 shares during the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AMGN has been the subject of several research reports. William Blair reaffirmed an “outperform” rating on shares of Amgen in a report on Tuesday, November 12th. UBS Group dropped their price target on Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Piper Sandler Companies reiterated an “overweight” rating and issued a $310.00 price objective on shares of Amgen in a research report on Thursday, January 2nd. Royal Bank of Canada reiterated an “outperform” rating and set a $324.00 price target on shares of Amgen in a research report on Friday, January 24th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $380.00 target price on shares of Amgen in a research report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Amgen currently has an average rating of “Hold” and a consensus price target of $314.00.

Amgen Trading Up 0.5 %

NASDAQ AMGN opened at $285.42 on Friday. The firm’s 50 day moving average price is $271.24 and its two-hundred day moving average price is $304.84. The stock has a market cap of $153.42 billion, a price-to-earnings ratio of 36.55, a PEG ratio of 2.85 and a beta of 0.56. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, beating the consensus estimate of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The firm had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. During the same period in the previous year, the firm earned $4.96 earnings per share. Amgen’s quarterly revenue was up 23.2% on a year-over-year basis. Equities analysts anticipate that Amgen Inc. will post 19.56 EPS for the current year.

Amgen Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be given a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.34%. This is a positive change from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date is Friday, February 14th. Amgen’s dividend payout ratio is 115.24%.

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.