Amgen Inc. (NASDAQ:AMGN) Holdings Boosted by Intech Investment Management LLC

Intech Investment Management LLC grew its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 24.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,900 shares of the medical research company's stock after purchasing an additional 12,791 shares during the period. Intech Investment Management LLC's holdings in Amgen were worth $21,234,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in Amgen by 42.0% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 816,191 shares of the medical research company's stock worth $262,985,000 after acquiring an additional 241,219 shares during the period. King Luther Capital Management Corp lifted its position in shares of Amgen by 1.3% in the third quarter. King Luther Capital Management Corp now owns 517,967 shares of the medical research company's stock worth $166,894,000 after purchasing an additional 6,587 shares in the last quarter. Cornerstone Advisors LLC boosted its holdings in shares of Amgen by 10.9% during the third quarter. Cornerstone Advisors LLC now owns 25,400 shares of the medical research company's stock worth $8,184,000 after purchasing an additional 2,500 shares during the period. Citizens Financial Group Inc. RI grew its position in Amgen by 4.4% during the third quarter. Citizens Financial Group Inc. RI now owns 14,844 shares of the medical research company's stock valued at $4,783,000 after purchasing an additional 626 shares in the last quarter. Finally, Payden & Rygel increased its stake in Amgen by 0.6% in the 3rd quarter. Payden & Rygel now owns 35,400 shares of the medical research company's stock valued at $11,406,000 after buying an additional 200 shares during the period. Institutional investors and hedge funds own 76.50% of the company's stock.

Analysts Set New Price Targets

AMGN has been the topic of several research analyst reports. Robert W. Baird restated an "underperform" rating and set a $215.00 price target on shares of Amgen in a report on Wednesday, September 25th. Barclays upped their target price on Amgen from $300.00 to $315.00 and gave the stock an "equal weight" rating in a research report on Monday, October 7th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $362.00 price target on shares of Amgen in a research note on Thursday, September 26th. Wolfe Research began coverage on Amgen in a research note on Friday, November 15th. They issued a "peer perform" rating for the company. Finally, Wells Fargo & Company lowered shares of Amgen from an "overweight" rating to an "equal weight" rating and raised their price objective for the company from $320.00 to $335.00 in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $333.57.

Amgen Stock Performance

NASDAQ AMGN opened at $287.87 on Thursday. The company's fifty day moving average is $318.08 and its two-hundred day moving average is $318.22. The firm has a market capitalization of $154.74 billion, a price-to-earnings ratio of 36.86, a P/E/G ratio of 2.53 and a beta of 0.60. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. Amgen Inc. has a 52-week low of $260.52 and a 52-week high of $346.85.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS 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 during the quarter, compared to analysts' expectations of $8.50 billion. During the same quarter in the prior year, the firm posted $4.96 EPS. The company's revenue for the quarter was up 23.2% on a year-over-year basis. Equities research analysts forecast that Amgen Inc. will post 19.51 EPS for the current year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be given a dividend of $2.25 per share. The ex-dividend date is Monday, November 18th. This represents a $9.00 annualized dividend and a dividend yield of 3.13%. Amgen's dividend payout ratio (DPR) is currently 115.24%.

Amgen Company Profile

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.

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