Pitcairn Co. lifted its position in Amgen, Inc. (NASDAQ:AMGN) by 75.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,682 shares of the medical research company’s stock after purchasing an additional 4,150 shares during the quarter. Pitcairn Co.’s holdings in Amgen were worth $2,007,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in AMGN. Daiwa Securities Group Inc. grew its position in Amgen by 3.7% in the third quarter. Daiwa Securities Group Inc. now owns 38,586 shares of the medical research company’s stock worth $7,999,000 after acquiring an additional 1,383 shares in the last quarter. WealthTrust Axiom LLC grew its position in Amgen by 17.4% in the third quarter. WealthTrust Axiom LLC now owns 3,380 shares of the medical research company’s stock worth $700,000 after acquiring an additional 500 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Amgen by 1.1% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 115,026 shares of the medical research company’s stock worth $23,840,000 after acquiring an additional 1,233 shares in the last quarter. Synovus Financial Corp grew its position in Amgen by 2.1% in the third quarter. Synovus Financial Corp now owns 57,124 shares of the medical research company’s stock worth $11,840,000 after acquiring an additional 1,157 shares in the last quarter. Finally, Sterling Capital Management LLC grew its position in Amgen by 1.3% in the third quarter. Sterling Capital Management LLC now owns 78,994 shares of the medical research company’s stock worth $16,375,000 after acquiring an additional 990 shares in the last quarter. 82.37% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages recently issued reports on AMGN. Royal Bank of Canada reiterated a “neutral” rating on shares of Amgen in a research report on Thursday, November 1st. Citigroup upped their target price on shares of Amgen from $200.00 to $204.00 and gave the stock a “neutral” rating in a research report on Thursday, November 1st. Goldman Sachs Group reiterated a “buy” rating and issued a $221.00 target price on shares of Amgen in a research report on Wednesday, October 31st. Morgan Stanley upped their target price on shares of Amgen from $212.00 to $213.00 and gave the stock a “buy” rating in a research report on Wednesday, October 31st. Finally, Oppenheimer set a $224.00 target price on shares of Amgen and gave the stock a “buy” rating in a research report on Tuesday, October 30th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have assigned a buy rating to the stock. Amgen currently has an average rating of “Hold” and a consensus target price of $204.55.
NASDAQ AMGN opened at $193.16 on Friday. The company has a quick ratio of 2.84, a current ratio of 3.08 and a debt-to-equity ratio of 2.05. Amgen, Inc. has a 12-month low of $163.31 and a 12-month high of $210.19. The stock has a market cap of $125.93 billion, a price-to-earnings ratio of 15.35, a price-to-earnings-growth ratio of 2.05 and a beta of 1.37.
Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, October 30th. The medical research company reported $3.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.45 by $0.24. Amgen had a net margin of 9.44% and a return on equity of 54.14%. The business had revenue of $5.90 billion during the quarter, compared to analyst estimates of $5.78 billion. During the same period in the prior year, the business posted $3.27 earnings per share. The company’s revenue was up 2.3% on a year-over-year basis. Sell-side analysts predict that Amgen, Inc. will post 14.24 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 7th. Stockholders of record on Friday, November 16th will be paid a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a dividend yield of 2.73%. The ex-dividend date is Thursday, November 15th. Amgen’s dividend payout ratio (DPR) is 41.97%.
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Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, nephrology, and neuroscience. The company's products include Evenity to treat osteoporosis in postmenopausal women; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Repatha to treat coronary diseases; Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Parsabiv to treat secondary hyperparathyroidism (sHPT); and Aimovig for the prevention of migraine.
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