Kornitzer Capital Management Inc. KS Reduces Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Kornitzer Capital Management Inc. KS reduced its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 7.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 15,417 shares of the medical research company’s stock after selling 1,288 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Amgen were worth $4,968,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Capital International Investors increased its holdings in Amgen by 547.8% during the 1st 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 increased its holdings in Amgen by 33,125.4% during the 3rd 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. Vanguard Group Inc. increased its holdings in Amgen by 6.2% during the 1st quarter. Vanguard Group Inc. now owns 52,088,210 shares of the medical research company’s stock worth $14,809,720,000 after purchasing an additional 3,045,657 shares during the last quarter. International Assets Investment Management LLC increased its holdings in Amgen by 6,812.4% during the 3rd 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. Finally, Janus Henderson Group PLC increased its holdings in Amgen by 137.1% during the 1st 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. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on AMGN shares. Oppenheimer restated an “outperform” rating and set a $380.00 price objective on shares of Amgen in a report on Wednesday, August 7th. Dbs Bank upgraded Amgen to a “strong-buy” rating in a research report on Monday, September 16th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $305.00 target price (down previously from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. Jefferies Financial Group reiterated a “buy” rating and issued a $380.00 target price (up previously from $375.00) on shares of Amgen in a research report on Wednesday, August 7th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $405.00 price objective on shares of Amgen in a research report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $333.50.

Amgen Stock Up 0.0 %

AMGN opened at $321.91 on Friday. Amgen Inc. has a one year low of $260.52 and a one year high of $346.85. 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 stock’s fifty day moving average is $323.96 and its 200-day moving average is $316.68. The company has a market capitalization of $173.04 billion, a PE ratio of 41.22, a P/E/G ratio of 2.79 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping analysts’ consensus estimates of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The company had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. During the same quarter in the previous year, the business earned $4.96 EPS. The company’s quarterly revenue was up 23.2% compared to the same quarter last year. On average, equities analysts predict that Amgen Inc. will post 19.51 EPS for the current fiscal year.

Amgen Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date is Monday, November 18th. Amgen’s dividend payout ratio (DPR) is presently 115.24%.

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.