Meeder Asset Management Inc. Grows Holdings in Amgen Inc. (NASDAQ:AMGN)

Meeder Asset Management Inc. grew its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 14.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 53,443 shares of the medical research company's stock after buying an additional 6,835 shares during the period. Amgen accounts for 1.2% of Meeder Asset Management Inc.'s holdings, making the stock its 20th biggest position. Meeder Asset Management Inc.'s holdings in Amgen were worth $17,220,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Capital International Investors raised its holdings in shares of Amgen by 547.8% during the first quarter. Capital International Investors now owns 7,005,269 shares of the medical research company's stock worth $1,991,738,000 after purchasing an additional 5,923,915 shares during the last quarter. Pathway Financial Advisers LLC raised its holdings in shares of Amgen by 33,125.4% during the third quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company's stock worth $1,437,115,000 after purchasing an additional 4,446,757 shares during the last quarter. International Assets Investment Management LLC raised its holdings in shares of Amgen by 6,812.4% during the third quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company's stock worth $8,130,610,000 after purchasing an additional 2,486,882 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of Amgen by 137.1% during the first quarter. Janus Henderson Group PLC now owns 2,381,133 shares of the medical research company's stock worth $676,984,000 after purchasing an additional 1,377,007 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Amgen by 561.5% during the third quarter. Assenagon Asset Management S.A. now owns 1,539,733 shares of the medical research company's stock worth $496,117,000 after purchasing an additional 1,306,982 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company's stock.

Amgen Price Performance

Shares of NASDAQ:AMGN traded up $1.19 during midday trading on Tuesday, hitting $279.95. The company's stock had a trading volume of 3,210,343 shares, compared to its average volume of 2,459,217. The business's 50 day simple moving average is $318.92 and its 200 day simple moving average is $318.43. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. The company has a market cap of $150.48 billion, a P/E ratio of 35.85, a price-to-earnings-growth ratio of 2.53 and a beta of 0.60. Amgen Inc. has a 12-month low of $260.52 and a 12-month 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 earnings per share for the quarter, topping the consensus estimate of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The firm had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. During the same period last year, the firm posted $4.96 earnings per share. The company's revenue for the quarter was up 23.2% on a year-over-year basis. On average, analysts forecast that Amgen Inc. will post 19.51 EPS for the current year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 18th will be paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date of this dividend is Monday, November 18th. Amgen's dividend payout ratio (DPR) is presently 115.24%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Citigroup assumed coverage on shares of Amgen in a report on Thursday, November 14th. They set a "neutral" rating and a $335.00 target price for the company. Truist Financial lowered shares of Amgen from a "buy" rating to a "hold" rating and raised their price target for the company from $320.00 to $333.00 in a research report on Monday, October 14th. Barclays raised their price target on shares of Amgen from $300.00 to $315.00 and gave the company an "equal weight" rating in a research report on Monday, October 7th. Sanford C. Bernstein assumed coverage on shares of Amgen in a research report on Thursday, October 17th. They set an "outperform" rating and a $380.00 price target on the stock. Finally, Royal Bank of Canada restated an "outperform" rating and set a $362.00 price target on shares of Amgen in a research report on Thursday, September 26th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Amgen has an average rating of "Moderate Buy" and an average target price of $333.57.

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.