King Luther Capital Management Corp Has $166.89 Million Stake in Amgen Inc. (NASDAQ:AMGN)

King Luther Capital Management Corp lifted its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 1.3% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 517,967 shares of the medical research company’s stock after buying an additional 6,587 shares during the quarter. King Luther Capital Management Corp owned about 0.10% of Amgen worth $166,894,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in AMGN. Meyer Handelman Co. lifted its holdings in shares of Amgen by 7.2% in the 2nd quarter. Meyer Handelman Co. now owns 129,831 shares of the medical research company’s stock worth $40,566,000 after purchasing an additional 8,700 shares in the last quarter. Swiss National Bank increased its holdings in Amgen by 0.3% in the 3rd quarter. Swiss National Bank now owns 1,592,233 shares of the medical research company’s stock worth $513,033,000 after acquiring an additional 5,500 shares during the last quarter. Napa Wealth Management purchased a new stake in Amgen in the 3rd quarter worth about $1,104,000. EP Wealth Advisors LLC grew its holdings in Amgen by 11.0% during the 1st quarter. EP Wealth Advisors LLC now owns 23,769 shares of the medical research company’s stock valued at $6,758,000 after buying an additional 2,353 shares in the last quarter. Finally, Second Half Financial Partners LLC bought a new stake in Amgen in the 3rd quarter worth approximately $3,413,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on AMGN shares. Dbs Bank raised Amgen to a “strong-buy” rating in a research note on Monday, September 16th. Citigroup began coverage on Amgen in a research report on Thursday, November 14th. They set a “neutral” rating and a $335.00 target price on the stock. Wolfe Research began coverage on Amgen in a report on Friday, November 15th. They issued a “peer perform” rating for the company. UBS Group reduced 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. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $380.00 price objective on shares of Amgen in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $333.57.

Amgen Stock Performance

Shares of AMGN stock opened at $287.87 on Thursday. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. Amgen Inc. has a one year low of $260.52 and a one year high of $346.85. The company’s 50-day simple moving average is $318.08 and its 200-day simple moving average is $318.22. The stock has a market capitalization of $154.74 billion, a price-to-earnings ratio of 36.86, a PEG ratio of 2.53 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last issued its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The firm had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.50 billion. During the same quarter last year, the company posted $4.96 earnings per share. Amgen’s revenue was up 23.2% on a year-over-year basis. Equities analysts anticipate that Amgen Inc. will post 19.51 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 18th will be paid a $2.25 dividend. The ex-dividend date is Monday, November 18th. This represents a $9.00 annualized dividend and a dividend yield of 3.13%. Amgen’s payout ratio is currently 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.