Swedbank AB Grows Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Swedbank AB raised its position in shares of Amgen Inc. (NASDAQ:AMGN) by 1.1% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 538,899 shares of the medical research company’s stock after buying an additional 5,751 shares during the quarter. Swedbank AB’s holdings in Amgen were worth $173,639,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Zhang Financial LLC raised its position in shares of Amgen by 2.0% in the 3rd quarter. Zhang Financial LLC now owns 15,250 shares of the medical research company’s stock valued at $4,914,000 after purchasing an additional 300 shares during the last quarter. Nova R Wealth Inc. raised its position in shares of Amgen by 0.8% in the 3rd quarter. Nova R Wealth Inc. now owns 12,348 shares of the medical research company’s stock valued at $3,979,000 after purchasing an additional 103 shares during the last quarter. Norway Savings Bank raised its position in shares of Amgen by 12.7% in the 3rd quarter. Norway Savings Bank now owns 3,806 shares of the medical research company’s stock valued at $1,226,000 after purchasing an additional 429 shares during the last quarter. Birch Capital Management LLC raised its position in shares of Amgen by 4.6% in the 3rd quarter. Birch Capital Management LLC now owns 22,109 shares of the medical research company’s stock valued at $7,124,000 after purchasing an additional 968 shares during the last quarter. Finally, Occidental Asset Management LLC raised its position in shares of Amgen by 5.7% in the 3rd quarter. Occidental Asset Management LLC now owns 11,899 shares of the medical research company’s stock valued at $3,834,000 after purchasing an additional 645 shares during the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Price Performance

AMGN stock traded down $0.43 during midday trading on Tuesday, reaching $324.19. The stock had a trading volume of 983,202 shares, compared to its average volume of 2,455,045. The company’s fifty day simple moving average is $326.05 and its 200 day simple moving average is $311.20. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 9.64. The company has a market cap of $173.91 billion, a price-to-earnings ratio of 46.37, a price-to-earnings-growth ratio of 2.86 and a beta of 0.61. Amgen Inc. has a 52-week low of $249.70 and a 52-week high of $346.85.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 earnings per share for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). The firm had revenue of $8.39 billion during the quarter, compared to analysts’ expectations of $8.35 billion. Amgen had a net margin of 10.12% and a return on equity of 161.72%. The company’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.00 EPS. As a group, sell-side analysts predict that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were given a dividend of $2.25 per share. The ex-dividend date was Friday, August 16th. This represents a $9.00 annualized dividend and a dividend yield of 2.78%. Amgen’s payout ratio is 128.57%.

Analyst Upgrades and Downgrades

AMGN has been the topic of several research reports. Argus increased their price target on shares of Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Bank of America increased their price target on shares of Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Royal Bank of Canada reiterated an “outperform” rating and issued a $362.00 price target on shares of Amgen in a report on Thursday, September 26th. Oppenheimer reiterated an “outperform” rating and issued a $380.00 price target on shares of Amgen in a report on Wednesday, August 7th. Finally, Robert W. Baird reaffirmed an “underperform” rating and set a $215.00 price objective on shares of Amgen in a research note on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $326.95.

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.