Mirae Asset Global Investments Co. Ltd. lifted its stake in Amgen, Inc. (NASDAQ:AMGN) by 21.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 104,527 shares of the medical research company’s stock after buying an additional 18,611 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Amgen were worth $21,711,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of AMGN. Kwmg LLC bought a new position in shares of Amgen in the second quarter worth about $108,000. Mainstay Capital Management LLC ADV bought a new position in shares of Amgen in the second quarter worth about $111,000. Polaris Greystone Financial Group LLC bought a new position in shares of Amgen in the third quarter worth about $166,000. Family Firm Inc. bought a new stake in Amgen during the 2nd quarter valued at approximately $202,000. Finally, Wellington Shields Capital Management LLC bought a new stake in Amgen during the 3rd quarter valued at approximately $202,000. 76.94% of the stock is currently owned by hedge funds and other institutional investors.
AMGN has been the topic of several recent analyst reports. Cann reissued a “buy” rating and set a $224.00 target price on shares of Amgen in a research note on Monday, October 1st. Royal Bank of Canada reissued a “neutral” rating and set a $193.00 target price on shares of Amgen in a research note on Monday, September 10th. Goldman Sachs Group reissued a “buy” rating and set a $229.00 target price on shares of Amgen in a research note on Friday, October 12th. Oppenheimer reissued a “buy” rating and set a $224.00 target price on shares of Amgen in a research note on Tuesday, August 28th. Finally, Jefferies Financial Group set a $220.00 target price on Amgen and gave the company a “buy” rating in a research note on Monday, October 8th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Amgen has a consensus rating of “Hold” and an average price target of $205.68.
NASDAQ AMGN opened at $191.44 on Friday. The company has a market cap of $126.81 billion, a price-to-earnings ratio of 15.22, a PEG ratio of 2.07 and a beta of 1.41. The company has a debt-to-equity ratio of 2.05, a current ratio of 3.08 and a quick ratio of 2.84. Amgen, Inc. has a 1-year low of $163.31 and a 1-year high of $210.19.
Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, October 30th. The medical research company reported $3.69 earnings per share for the quarter, beating the consensus estimate of $3.45 by $0.24. The business had revenue of $5.90 billion during the quarter, compared to analysts’ expectations of $5.78 billion. Amgen had a return on equity of 54.14% and a net margin of 9.44%. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter last year, the business posted $3.27 EPS. As a group, research analysts forecast that Amgen, Inc. will post 14.24 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 8th. Shareholders of record on Friday, February 15th will be issued a dividend of $1.45 per share. This represents a $5.80 annualized dividend and a yield of 3.03%. This is a boost from Amgen’s previous quarterly dividend of $1.32. Amgen’s dividend payout ratio (DPR) is currently 41.97%.
In other Amgen news, SVP Cynthia M. Patton sold 1,777 shares of the firm’s stock in a transaction that occurred on Thursday, November 29th. The stock was sold at an average price of $202.88, for a total transaction of $360,517.76. Following the completion of the transaction, the senior vice president now owns 23,090 shares in the company, valued at approximately $4,684,499.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.19% of the company’s stock.
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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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