Zurich Insurance Group Ltd FI Purchases 4,402 Shares of Amgen Inc. (NASDAQ:AMGN)

Zurich Insurance Group Ltd FI grew its holdings in Amgen Inc. (NASDAQ:AMGN) by 3.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 130,288 shares of the medical research company’s stock after purchasing an additional 4,402 shares during the quarter. Zurich Insurance Group Ltd FI’s holdings in Amgen were worth $41,980,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Lantz Financial LLC lifted its position in Amgen by 5.1% during the second quarter. Lantz Financial LLC now owns 1,779 shares of the medical research company’s stock valued at $556,000 after acquiring an additional 87 shares during the last quarter. Sax Wealth Advisors LLC acquired a new stake in shares of Amgen in the 2nd quarter worth $205,000. Fermata Advisors LLC purchased a new position in Amgen during the 2nd quarter worth $401,000. Sitrin Capital Management LLC increased its position in Amgen by 0.3% during the 2nd quarter. Sitrin Capital Management LLC now owns 22,638 shares of the medical research company’s stock valued at $7,073,000 after buying an additional 65 shares in the last quarter. Finally, Inspirion Wealth Advisors LLC acquired a new position in Amgen during the 2nd quarter valued at about $203,000. Institutional investors own 76.50% of the company’s stock.

Amgen Price Performance

Amgen stock opened at $272.58 on Friday. The company’s fifty day moving average price is $307.58 and its 200 day moving average price is $316.10. Amgen Inc. has a 1 year low of $257.80 and a 1 year high of $346.85. The stock has a market capitalization of $146.52 billion, a P/E ratio of 34.90, a P/E/G ratio of 3.08 and a beta of 0.55. 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 (NASDAQ:AMGN) last posted its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, topping 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 company had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.50 billion. During the same period in the previous year, the firm posted $4.96 EPS. Amgen’s revenue was up 23.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Amgen Inc. will post 19.51 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 18th will be paid a dividend of $2.25 per share. The ex-dividend date is Monday, November 18th. This represents a $9.00 annualized dividend and a yield of 3.30%. Amgen’s dividend payout ratio (DPR) is presently 115.24%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AMGN. Sanford C. Bernstein initiated coverage on Amgen in a research report on Thursday, October 17th. They set an “outperform” rating and a $380.00 target price on the stock. Robert W. Baird restated an “underperform” rating and set a $215.00 price objective on shares of Amgen in a report on Wednesday, September 25th. Jefferies Financial Group restated a “buy” rating and set a $380.00 price target on shares of Amgen in a research note on Tuesday, November 12th. Leerink Partners cut their price target on shares of Amgen from $349.00 to $302.00 in a research note on Wednesday, November 27th. Finally, Truist Financial downgraded Amgen from a “buy” rating to a “hold” rating and upped their target price for the company from $320.00 to $333.00 in a research report on Monday, October 14th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $323.05.

Amgen Company 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.