AMF Tjanstepension AB Grows Position in Amgen Inc. (NASDAQ:AMGN)

AMF Tjanstepension AB increased its stake in Amgen Inc. (NASDAQ:AMGN) by 16.9% during the third quarter, according to its most recent filing with the SEC. The fund owned 120,389 shares of the medical research company’s stock after buying an additional 17,387 shares during the quarter. AMF Tjanstepension AB’s holdings in Amgen were worth $38,825,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of AMGN. Strategic Financial Concepts LLC bought a new stake in shares of Amgen during the 2nd quarter valued at about $26,000. Horizon Financial Services LLC bought a new stake in Amgen during the 1st quarter valued at approximately $28,000. Hershey Financial Advisers LLC bought a new position in shares of Amgen in the 2nd quarter worth about $30,000. nVerses Capital LLC purchased a new position in shares of Amgen during the second quarter valued at approximately $31,000. Finally, Bbjs Financial Advisors LLC bought a new position in shares of Amgen during the second quarter valued at $33,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

AMGN has been the topic of several research analyst reports. Wells Fargo & Company cut shares of Amgen from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $320.00 to $335.00 in a research note on Wednesday, August 7th. Bank of America lifted their price objective on shares of Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Robert W. Baird reissued an “underperform” rating and issued a $215.00 price objective on shares of Amgen in a research note on Wednesday, September 25th. Argus increased their target price on shares of Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Finally, Cantor Fitzgerald began coverage on shares of Amgen in a report on Friday, September 27th. They issued an “overweight” rating and a $405.00 price target on the stock. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Amgen presently has a consensus rating of “Moderate Buy” and a consensus target price of $325.55.

Amgen Trading Down 0.2 %

Amgen stock opened at $319.73 on Thursday. The company has a 50 day moving average price of $327.92 and a 200 day moving average price of $308.56. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.89 and a current ratio of 1.26. The firm has a market capitalization of $171.51 billion, a price-to-earnings ratio of 45.68, a P/E/G ratio of 2.98 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 posted its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.01 by ($0.04). The firm had revenue of $8.39 billion for the quarter, compared to the consensus estimate of $8.35 billion. Amgen had a return on equity of 161.72% and a net margin of 10.12%. Amgen’s quarterly revenue was up 20.1% on a year-over-year basis. During the same period in the prior year, the company posted $5.00 earnings per share. Research analysts forecast that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date was Friday, August 16th. Amgen’s dividend payout ratio is presently 128.57%.

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.