ICICI Prudential Asset Management Co Ltd Buys 1,122 Shares of Amgen Inc. (NASDAQ:AMGN)

ICICI Prudential Asset Management Co Ltd increased its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 19.0% during the 3rd quarter, Holdings Channel reports. The fund owned 7,014 shares of the medical research company’s stock after acquiring an additional 1,122 shares during the period. ICICI Prudential Asset Management Co Ltd’s holdings in Amgen were worth $2,260,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Keynote Financial Services LLC raised its stake in shares of Amgen by 0.6% during the second quarter. Keynote Financial Services LLC now owns 4,898 shares of the medical research company’s stock worth $1,530,000 after acquiring an additional 30 shares in the last quarter. Ascent Group LLC raised its stake in shares of Amgen by 0.3% during the second quarter. Ascent Group LLC now owns 10,949 shares of the medical research company’s stock worth $3,421,000 after acquiring an additional 31 shares in the last quarter. RFP Financial Group LLC raised its stake in shares of Amgen by 17.1% during the first quarter. RFP Financial Group LLC now owns 219 shares of the medical research company’s stock worth $62,000 after acquiring an additional 32 shares in the last quarter. Hofer & Associates. Inc raised its stake in shares of Amgen by 0.5% during the second quarter. Hofer & Associates. Inc now owns 6,477 shares of the medical research company’s stock worth $2,024,000 after acquiring an additional 32 shares in the last quarter. Finally, Cadinha & Co. LLC increased its stake in shares of Amgen by 0.6% in the third quarter. Cadinha & Co. LLC now owns 5,209 shares of the medical research company’s stock worth $1,678,000 after buying an additional 32 shares during the period. 76.50% of the stock is owned by institutional investors.

Amgen Trading Up 1.1 %

AMGN stock traded up $3.30 during trading on Wednesday, reaching $302.14. 1,185,864 shares of the stock traded hands, compared to its average volume of 2,424,374. Amgen Inc. has a 52-week low of $260.52 and a 52-week high of $346.85. The business’s 50 day moving average price is $322.74 and its 200-day moving average price is $318.27. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. The firm has a market capitalization of $162.41 billion, a PE ratio of 38.26, a P/E/G ratio of 2.87 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The firm had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.50 billion. During the same quarter in the prior year, the firm posted $4.96 earnings per share. Amgen’s revenue for the quarter was up 23.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Amgen Inc. will post 19.51 earnings per share for the current year.

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s dividend payout ratio (DPR) is 115.24%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on AMGN shares. Dbs Bank upgraded shares of Amgen to a “strong-buy” rating in a report on Monday, September 16th. UBS Group lowered their price target on Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. StockNews.com raised Amgen from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. Wells Fargo & Company lowered shares of Amgen from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $320.00 to $335.00 in a research report on Wednesday, August 7th. Finally, TD Cowen boosted their price objective on Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a research note on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $333.50.

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.