Kayne Anderson Rudnick Investment Management LLC Has $7.73 Million Position in Amgen Inc. (NASDAQ:AMGN)

Kayne Anderson Rudnick Investment Management LLC lessened its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 11.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,751 shares of the medical research company’s stock after selling 3,113 shares during the period. Kayne Anderson Rudnick Investment Management LLC’s holdings in Amgen were worth $7,734,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Aveo Capital Partners LLC lifted its position in Amgen by 19.9% during the 4th quarter. Aveo Capital Partners LLC now owns 2,729 shares of the medical research company’s stock worth $786,000 after acquiring an additional 453 shares during the last quarter. Gryphon Financial Partners LLC lifted its position in shares of Amgen by 295.3% during the 4th quarter. Gryphon Financial Partners LLC now owns 3,684 shares of the medical research company’s stock worth $1,021,000 after purchasing an additional 2,752 shares during the last quarter. Orion Portfolio Solutions LLC boosted its stake in Amgen by 13.7% during the 4th quarter. Orion Portfolio Solutions LLC now owns 29,285 shares of the medical research company’s stock valued at $9,104,000 after purchasing an additional 3,533 shares during the period. Godshalk Welsh Capital Management Inc. acquired a new stake in Amgen in the 4th quarter valued at approximately $206,000. Finally, Glassman Wealth Services grew its holdings in Amgen by 12.4% in the 4th quarter. Glassman Wealth Services now owns 864 shares of the medical research company’s stock valued at $249,000 after buying an additional 95 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Price Performance

Shares of AMGN opened at $337.38 on Monday. The stock has a 50 day simple moving average of $329.57 and a 200 day simple moving average of $306.03. Amgen Inc. has a 52-week low of $249.70 and a 52-week high of $346.85. 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 $180.98 billion, a PE ratio of 48.20, a P/E/G ratio of 2.93 and a beta of 0.61.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data 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). Amgen had a return on equity of 161.72% and a net margin of 10.12%. The company had revenue of $8.39 billion for the quarter, compared to analyst estimates of $8.35 billion. During the same quarter in the previous year, the business earned $5.00 earnings per share. The company’s revenue was up 20.1% on a year-over-year basis. Sell-side analysts predict that Amgen Inc. will post 19.49 EPS for the current fiscal year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were paid a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.67%. The ex-dividend date was Friday, August 16th. Amgen’s payout ratio is 128.57%.

Analysts Set New Price Targets

AMGN has been the subject of several research reports. Royal Bank of Canada increased their price objective on Amgen from $332.00 to $362.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $305.00 price target (down from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. TD Cowen upped their price objective on shares of Amgen from $360.00 to $381.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Dbs Bank raised Amgen to a “strong-buy” rating in a research report on Monday, September 16th. Finally, Argus upped their price target on Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Eleven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Amgen presently has a consensus rating of “Moderate Buy” and an average target price of $327.28.

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.