Corundum Group Inc. Has $1.04 Million Position in Amgen Inc. (NASDAQ:AMGN)

Corundum Group Inc. increased its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 103.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,996 shares of the medical research company's stock after buying an additional 2,030 shares during the period. Corundum Group Inc.'s holdings in Amgen were worth $1,042,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Ascent Group LLC boosted its position in shares of Amgen by 0.3% during the second quarter. Ascent Group LLC now owns 10,949 shares of the medical research company's stock worth $3,421,000 after buying an additional 31 shares during the period. Cadinha & Co. LLC lifted its stake in Amgen by 0.6% in 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 in the last quarter. Lansing Street Advisors boosted its position in Amgen by 1.3% during the 3rd quarter. Lansing Street Advisors now owns 2,582 shares of the medical research company's stock worth $832,000 after acquiring an additional 32 shares during the last quarter. Unionview LLC grew its stake in shares of Amgen by 3.8% during the 3rd quarter. Unionview LLC now owns 876 shares of the medical research company's stock worth $282,000 after acquiring an additional 32 shares in the last quarter. Finally, Traveka Wealth LLC raised its holdings in shares of Amgen by 4.3% in the third quarter. Traveka Wealth LLC now owns 807 shares of the medical research company's stock valued at $260,000 after purchasing an additional 33 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Sanford C. Bernstein began coverage on shares of Amgen in a research report on Thursday, October 17th. They issued an "outperform" rating and a $380.00 target price for the company. Royal Bank of Canada lowered their target price on Amgen from $360.00 to $330.00 and set an "outperform" rating on the stock in a research report on Wednesday, November 27th. Redburn Partners reduced their price target on Amgen from $200.00 to $195.00 in a research report on Wednesday, November 27th. Leerink Partners lowered their price target on Amgen from $349.00 to $302.00 in a research report on Wednesday, November 27th. Finally, William Blair reissued an "outperform" rating on shares of Amgen in a report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $314.91.

Amgen Stock Performance

Shares of AMGN traded up $2.68 during mid-day trading on Monday, hitting $272.11. 3,244,015 shares of the company's stock were exchanged, compared to its average volume of 3,140,853. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. The firm has a market cap of $146.27 billion, a price-to-earnings ratio of 34.84, a price-to-earnings-growth ratio of 2.68 and a beta of 0.56. The stock's 50-day simple moving average is $273.95 and its 200-day simple moving average is $307.18. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping analysts' consensus estimates 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 quarter last year, the company earned $4.96 EPS. The company's revenue was up 23.2% on a year-over-year basis. On average, equities research analysts expect that Amgen Inc. will post 19.57 EPS for the current year.

Amgen Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be issued a $2.38 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.50%. This is a boost from Amgen's previous quarterly dividend of $2.25. Amgen's dividend payout ratio is 121.90%.

Amgen 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.