APG Asset Management N.V. Grows Stake in Amgen Inc. (NASDAQ:AMGN)

APG Asset Management N.V. boosted its position in shares of Amgen Inc. (NASDAQ:AMGN) by 11.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 629,733 shares of the medical research company’s stock after acquiring an additional 66,416 shares during the quarter. APG Asset Management N.V. owned 0.12% of Amgen worth $183,588,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of AMGN. APG Asset Management US Inc. increased its position in shares of Amgen by 2.2% during the 2nd quarter. APG Asset Management US Inc. now owns 158,539 shares of the medical research company’s stock valued at $49,307,000 after purchasing an additional 3,450 shares during the last quarter. Alley Investment Management Company LLC grew its position in Amgen by 14.3% during the second quarter. Alley Investment Management Company LLC now owns 23,096 shares of the medical research company’s stock valued at $7,216,000 after buying an additional 2,882 shares during the period. Trinity Legacy Partners LLC increased its holdings in Amgen by 0.6% during the second quarter. Trinity Legacy Partners LLC now owns 15,143 shares of the medical research company’s stock valued at $4,731,000 after buying an additional 87 shares during the last quarter. Fred Alger Management LLC raised its position in Amgen by 128.4% in the second quarter. Fred Alger Management LLC now owns 325,752 shares of the medical research company’s stock worth $101,781,000 after acquiring an additional 183,151 shares during the period. Finally, Zurich Insurance Group Ltd FI boosted its stake in shares of Amgen by 591.7% during the 2nd quarter. Zurich Insurance Group Ltd FI now owns 125,886 shares of the medical research company’s stock worth $39,333,000 after acquiring an additional 107,686 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Trading Down 5.5 %

AMGN opened at $312.86 on Thursday. The stock has a 50-day moving average of $329.63 and a 200 day moving average of $306.87. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 9.64. Amgen Inc. has a 12 month low of $249.70 and a 12 month high of $346.85. The firm has a market cap of $168.11 billion, a P/E ratio of 44.69, a P/E/G ratio of 2.98 and a beta of 0.61.

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

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were paid a dividend of $2.25 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.88%. Amgen’s dividend payout ratio is presently 128.57%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on AMGN. Oppenheimer restated an “outperform” rating and issued a $380.00 price objective on shares of Amgen in a research note on Wednesday, August 7th. Bank of America raised their price objective on Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Morgan Stanley cut their price objective on Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a research note on Thursday, July 11th. Robert W. Baird restated an “underperform” rating and set a $215.00 target price on shares of Amgen in a research note on Wednesday. Finally, TD Cowen upped their price target on shares of Amgen from $360.00 to $381.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $321.37.

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.