Sumitomo Mitsui DS Asset Management Company Ltd Grows Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Amgen Inc. (NASDAQ:AMGN) by 4.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 282,927 shares of the medical research company’s stock after buying an additional 11,580 shares during the quarter. Amgen makes up 1.0% of Sumitomo Mitsui DS Asset Management Company Ltd’s investment portfolio, making the stock its 20th largest holding. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Amgen were worth $91,162,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Park Avenue Securities LLC boosted its stake in shares of Amgen by 1.1% in the first quarter. Park Avenue Securities LLC now owns 31,650 shares of the medical research company’s stock valued at $8,999,000 after purchasing an additional 353 shares during the period. Inscription Capital LLC acquired a new stake in Amgen during the 1st quarter worth approximately $331,000. LexAurum Advisors LLC boosted its position in Amgen by 23.7% in the 1st quarter. LexAurum Advisors LLC now owns 1,212 shares of the medical research company’s stock valued at $345,000 after buying an additional 232 shares during the period. Tealwood Asset Management Inc. increased its position in shares of Amgen by 1.2% during the first quarter. Tealwood Asset Management Inc. now owns 5,277 shares of the medical research company’s stock worth $1,500,000 after acquiring an additional 64 shares during the period. Finally, First Affirmative Financial Network grew its position in shares of Amgen by 6.4% during the first quarter. First Affirmative Financial Network now owns 1,259 shares of the medical research company’s stock worth $358,000 after buying an additional 76 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analysts Set New Price Targets

AMGN has been the subject of several analyst reports. TD Cowen boosted their price target on shares of Amgen from $360.00 to $381.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Cantor Fitzgerald assumed coverage on Amgen in a report on Friday, September 27th. They issued an “overweight” rating and a $405.00 target price on the stock. Sanford C. Bernstein started coverage on Amgen in a report on Thursday. They set an “outperform” rating and a $380.00 price target for the company. Barclays upped their price objective on Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Finally, Bank of America boosted their target price on Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $329.48.

Amgen Stock Performance

Amgen stock opened at $321.33 on Friday. The company has a debt-to-equity ratio of 9.64, a current ratio of 1.26 and a quick ratio of 0.89. The firm’s fifty day moving average price is $326.08 and its 200 day moving average price is $311.63. The company has a market capitalization of $172.37 billion, a price-to-earnings ratio of 45.90, a price-to-earnings-growth ratio of 2.86 and a beta of 0.61. Amgen Inc. has a 12-month low of $249.70 and a 12-month high of $346.85.

Amgen (NASDAQ:AMGN) last issued its quarterly 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 business had revenue of $8.39 billion during the quarter, compared to analysts’ expectations of $8.35 billion. Amgen had a net margin of 10.12% and a return on equity of 161.72%. The company’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same period in the prior year, the company posted $5.00 EPS. On average, research analysts forecast that Amgen Inc. will post 19.49 EPS for the current fiscal year.

Amgen Dividend Announcement

The business also recently disclosed 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 annualized dividend and a yield of 2.80%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s dividend payout ratio is currently 128.57%.

Amgen 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.