Profund Advisors LLC lessened its holdings in shares of Amgen Inc. (NASDAQ:AMGN – Get Rating) by 4.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 90,506 shares of the medical research company’s stock after selling 4,593 shares during the quarter. Amgen accounts for 1.5% of Profund Advisors LLC’s investment portfolio, making the stock its 11th biggest position. Profund Advisors LLC’s holdings in Amgen were worth $20,400,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. EdgeRock Capital LLC acquired a new stake in Amgen during the 3rd quarter worth about $25,000. Capital Wealth Alliance LLC purchased a new stake in shares of Amgen in the second quarter worth approximately $26,000. Coston McIsaac & Partners purchased a new stake in Amgen in the 2nd quarter worth approximately $27,000. Heritage Wealth Management LLC acquired a new stake in shares of Amgen during the 2nd quarter valued at $28,000. Finally, Blue Bell Private Wealth Management LLC grew its holdings in shares of Amgen by 420.0% during the 2nd quarter. Blue Bell Private Wealth Management LLC now owns 130 shares of the medical research company’s stock valued at $32,000 after acquiring an additional 105 shares in the last quarter. 75.53% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
AMGN has been the topic of several analyst reports. Wells Fargo & Company increased their price target on shares of Amgen from $250.00 to $285.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 3rd. Truist Financial increased their price objective on Amgen from $266.00 to $280.00 and gave the company a “hold” rating in a report on Tuesday, November 8th. Credit Suisse Group began coverage on Amgen in a research note on Thursday, November 17th. They issued an “underperform” rating and a $240.00 price objective on the stock. Piper Sandler decreased their target price on Amgen from $299.00 to $293.00 and set an “overweight” rating for the company in a research report on Thursday, January 19th. Finally, SVB Leerink lifted their price target on shares of Amgen from $256.00 to $282.00 and gave the company a “market perform” rating in a research report on Thursday, December 22nd. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $253.57.
Amgen Price Performance
Amgen (NASDAQ:AMGN – Get Rating) last posted its earnings results on Thursday, November 3rd. The medical research company reported $4.70 earnings per share for the quarter, topping the consensus estimate of $4.43 by $0.27. Amgen had a net margin of 25.96% and a return on equity of 287.23%. The business had revenue of $6.65 billion for the quarter, compared to analyst estimates of $6.56 billion. During the same quarter in the prior year, the firm earned $4.67 EPS. The firm’s quarterly revenue was down .8% compared to the same quarter last year. As a group, research analysts predict that Amgen Inc. will post 17.62 EPS for the current year.
Amgen Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 8th. Investors of record on Wednesday, February 15th will be paid a dividend of $2.13 per share. The ex-dividend date of this dividend is Tuesday, February 14th. This is a boost from Amgen’s previous quarterly dividend of $1.94. This represents a $8.52 dividend on an annualized basis and a dividend yield of 3.31%. Amgen’s payout ratio is 62.23%.
In other news, SVP Nancy A. Grygiel sold 545 shares of Amgen stock in a transaction dated Tuesday, November 8th. The stock was sold at an average price of $293.54, for a total transaction of $159,979.30. Following the transaction, the senior vice president now owns 13,009 shares in the company, valued at approximately $3,818,661.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.46% of the stock is currently owned by company insiders.
Amgen Company Profile
Amgen, Inc is a biotechnology company, which engages in the discovery, development, manufacture and marketing of human therapeutics. Its products include the following brands: Aranesp, Aimovig, KANJINTI, EVENITY, AMGEVITA, AVSOLA, BLINCYTO, MVASI, Corlanor, Enbrel, EPOGEN, IMLYGIC, Kyprolis, Neulasta, NEUPOGEN, Nplate, Parsabiv, Prolia, Repatha, Sensipar, Vectibix, Otezla, RIABNI, and XGEVA.
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