Van ECK Associates Corp Decreases Stock Position in Amgen Inc. (NASDAQ:AMGN)

Van ECK Associates Corp lessened its position in shares of Amgen Inc. (NASDAQ:AMGN) by 0.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 266,873 shares of the medical research company’s stock after selling 911 shares during the period. Van ECK Associates Corp’s holdings in Amgen were worth $83,385,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC bought a new position in Amgen in the 4th quarter worth approximately $32,880,000. GUNN & Co INVESTMENT MANAGEMENT INC. boosted its holdings in shares of Amgen by 1,089.5% in the fourth quarter. GUNN & Co INVESTMENT MANAGEMENT INC. now owns 108,838 shares of the medical research company’s stock worth $31,348,000 after acquiring an additional 99,688 shares during the period. Great Valley Advisor Group Inc. grew its position in shares of Amgen by 2.3% in the fourth quarter. Great Valley Advisor Group Inc. now owns 7,015 shares of the medical research company’s stock valued at $2,021,000 after purchasing an additional 155 shares in the last quarter. Fisher Asset Management LLC raised its stake in shares of Amgen by 4.3% during the 4th quarter. Fisher Asset Management LLC now owns 78,929 shares of the medical research company’s stock valued at $22,733,000 after purchasing an additional 3,225 shares during the period. Finally, Commonwealth Equity Services LLC lifted its holdings in Amgen by 1.9% during the 4th quarter. Commonwealth Equity Services LLC now owns 383,078 shares of the medical research company’s stock worth $110,334,000 after purchasing an additional 7,296 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Amgen Trading Up 0.9 %

Shares of NASDAQ AMGN traded up $2.82 during midday trading on Friday, reaching $333.83. The company had a trading volume of 2,173,548 shares, compared to its average volume of 2,554,402. The firm’s fifty day moving average price is $324.99 and its 200-day moving average price is $300.71. The company has a quick ratio of 0.98, a current ratio of 1.42 and a debt-to-equity ratio of 11.96. Amgen Inc. has a one year low of $248.38 and a one year high of $346.85. The stock has a market cap of $179.08 billion, a PE ratio of 47.69, a price-to-earnings-growth ratio of 2.78 and a beta of 0.58.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 earnings per share for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). Amgen had a net margin of 12.74% and a return on equity of 156.21%. The company had revenue of $8.39 billion for the quarter, compared to analysts’ expectations of $8.35 billion. During the same period last year, the company posted $5.00 EPS. The business’s revenue for the quarter was up 20.1% compared to the same quarter last year. On average, equities research analysts anticipate that Amgen Inc. will post 19.5 earnings per share for the current year.

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were paid a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.70%. The ex-dividend date was Friday, August 16th. Amgen’s dividend payout ratio (DPR) is 128.57%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on AMGN shares. BMO Capital Markets upped their price target on Amgen from $336.00 to $355.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. StockNews.com raised shares of Amgen from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. Wells Fargo & Company cut shares of Amgen from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $320.00 to $335.00 in a report on Wednesday, August 7th. Mizuho lifted their price objective on Amgen from $223.00 to $235.00 and gave the company a “neutral” rating in a research note on Thursday, May 9th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $380.00 target price (up from $375.00) on shares of Amgen in a research note on Wednesday, August 7th. Eleven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $326.89.

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.