Amgen Inc. (NASDAQ:AMGN) Shares Bought by King Luther Capital Management Corp

King Luther Capital Management Corp lifted its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 1.3% during the third quarter, Holdings Channel.com reports. The fund owned 517,967 shares of the medical research company’s stock after purchasing an additional 6,587 shares during the period. King Luther Capital Management Corp’s holdings in Amgen were worth $166,894,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Meyer Handelman Co. increased its stake in shares of Amgen by 7.2% during the second quarter. Meyer Handelman Co. now owns 129,831 shares of the medical research company’s stock valued at $40,566,000 after acquiring an additional 8,700 shares during the period. Swiss National Bank increased its stake in shares of Amgen by 0.3% during the third quarter. Swiss National Bank now owns 1,592,233 shares of the medical research company’s stock valued at $513,033,000 after acquiring an additional 5,500 shares during the period. Napa Wealth Management acquired a new position in shares of Amgen during the third quarter valued at approximately $1,104,000. EP Wealth Advisors LLC boosted its holdings in Amgen by 11.0% during the first quarter. EP Wealth Advisors LLC now owns 23,769 shares of the medical research company’s stock worth $6,758,000 after buying an additional 2,353 shares in the last quarter. Finally, Second Half Financial Partners LLC bought a new stake in Amgen during the third quarter worth approximately $3,413,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on AMGN. Bank of America raised their target price on shares of Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Truist Financial cut shares of Amgen from a “buy” rating to a “hold” rating and raised their target price for the stock from $320.00 to $333.00 in a report on Monday, October 14th. Sanford C. Bernstein initiated coverage on shares of Amgen in a report on Thursday, October 17th. They set an “outperform” rating and a $380.00 target price for the company. Dbs Bank raised shares of Amgen to a “strong-buy” rating in a research note on Monday, September 16th. Finally, Wolfe Research initiated coverage on shares of Amgen in a research note on Friday, November 15th. They issued a “peer perform” rating for the company. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Amgen presently has an average rating of “Moderate Buy” and a consensus target price of $333.57.

Amgen Stock Up 2.8 %

Shares of AMGN opened at $287.87 on Thursday. The company has a 50-day simple moving average of $318.08 and a 200-day simple moving average of $318.22. The firm has a market capitalization of $154.74 billion, a P/E ratio of 36.86, a P/E/G ratio of 2.53 and a beta of 0.60. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. Amgen Inc. has a 52 week low of $260.52 and a 52 week high of $346.85.

Amgen (NASDAQ:AMGN) last posted its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. The business had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The firm’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.96 earnings per share. On average, equities research analysts expect that Amgen Inc. will post 19.51 earnings per share for the current year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be paid a $2.25 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $9.00 dividend on an annualized basis and a yield of 3.13%. Amgen’s payout ratio is currently 115.24%.

About Amgen

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.