General American Investors Co. Inc. Has $9.67 Million Holdings in Amgen Inc. (NASDAQ:AMGN)

General American Investors Co. Inc. increased its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 20.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,000 shares of the medical research company’s stock after purchasing an additional 5,000 shares during the quarter. General American Investors Co. Inc.’s holdings in Amgen were worth $9,666,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Strategic Financial Concepts LLC bought a new position in shares of Amgen in the 2nd quarter valued at about $26,000. Hershey Financial Advisers LLC bought a new position in Amgen in the second quarter valued at approximately $30,000. nVerses Capital LLC bought a new position in Amgen in the second quarter valued at approximately $31,000. Bbjs Financial Advisors LLC acquired a new position in shares of Amgen during the 2nd quarter worth approximately $33,000. Finally, Matrix Trust Co bought a new stake in shares of Amgen during the 3rd quarter worth approximately $36,000. Institutional investors own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AMGN. Robert W. Baird reissued an “underperform” rating and issued a $215.00 target price on shares of Amgen in a research note on Wednesday, September 25th. Truist Financial downgraded shares of Amgen from a “buy” rating to a “hold” rating and lifted their price objective for the company from $320.00 to $333.00 in a research report on Monday, October 14th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $405.00 target price on shares of Amgen in a report on Tuesday, October 22nd. Sanford C. Bernstein assumed coverage on shares of Amgen in a research note on Thursday, October 17th. They issued an “outperform” rating and a $380.00 target price for the company. Finally, Dbs Bank raised Amgen to a “strong-buy” rating in a research report on Monday, September 16th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $333.50.

Amgen Stock Performance

NASDAQ AMGN traded down $1.93 during trading on Thursday, reaching $319.86. The company’s stock had a trading volume of 77,284 shares, compared to its average volume of 2,400,304. The firm has a 50 day moving average price of $323.96 and a 200 day moving average price of $316.68. Amgen Inc. has a 12 month low of $260.52 and a 12 month high of $346.85. The firm has a market capitalization of $171.87 billion, a price-to-earnings ratio of 41.20, a price-to-earnings-growth ratio of 2.81 and a beta of 0.60. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results 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. The company had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. Amgen’s revenue was up 23.2% on a year-over-year basis. During the same quarter last year, the business earned $4.96 earnings per share. As a group, equities analysts anticipate that Amgen Inc. will post 19.49 EPS for the current fiscal year.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date is Monday, November 18th. Amgen’s dividend payout ratio (DPR) is presently 115.24%.

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.