New York Life Investment Management LLC Has $23.15 Million Stake in Amgen Inc. (NASDAQ:AMGN)

New York Life Investment Management LLC boosted its holdings in Amgen Inc. (NASDAQ:AMGN) by 0.8% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 74,094 shares of the medical research company’s stock after acquiring an additional 566 shares during the quarter. New York Life Investment Management LLC’s holdings in Amgen were worth $23,151,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of AMGN. Aveo Capital Partners LLC boosted its position in shares of Amgen by 19.9% during the fourth quarter. Aveo Capital Partners LLC now owns 2,729 shares of the medical research company’s stock valued at $786,000 after buying an additional 453 shares during the last quarter. Gryphon Financial Partners LLC raised its holdings in shares of Amgen by 295.3% in the fourth quarter. Gryphon Financial Partners LLC now owns 3,684 shares of the medical research company’s stock valued at $1,021,000 after purchasing an additional 2,752 shares during the last quarter. Principal Securities Inc. purchased a new stake in shares of Amgen in the fourth quarter valued at about $2,866,000. Calton & Associates Inc. bought a new position in shares of Amgen during the fourth quarter valued at about $251,000. Finally, Thompson Siegel & Walmsley LLC boosted its holdings in Amgen by 121.4% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 25,893 shares of the medical research company’s stock worth $7,458,000 after purchasing an additional 14,200 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Royal Bank of Canada lifted their target price on shares of Amgen from $332.00 to $362.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Wells Fargo & Company cut Amgen from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $320.00 to $335.00 in a research report on Wednesday, August 7th. Bank of America raised their target price on Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Argus boosted their price target on shares of Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Finally, Morgan Stanley decreased their price objective on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a report on Thursday, July 11th. Eleven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Amgen currently has an average rating of “Moderate Buy” and an average price target of $327.28.

Amgen Price Performance

Amgen stock opened at $320.56 on Friday. The firm has a market capitalization of $171.96 billion, a P/E ratio of 45.79, a PEG ratio of 2.96 and a beta of 0.58. Amgen Inc. has a one year low of $249.70 and a one year high of $346.85. The company has a debt-to-equity ratio of 9.64, a current ratio of 1.26 and a quick ratio of 0.89. The business has a fifty day moving average price of $326.26 and a 200-day moving average price of $302.12.

Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, August 6th. The medical research company reported $4.97 EPS for the quarter, missing the consensus estimate of $5.01 by ($0.04). Amgen had a return on equity of 161.72% and a net margin of 10.12%. The company had revenue of $8.39 billion during the quarter, compared to the consensus estimate of $8.35 billion. During the same quarter in the prior year, the business earned $5.00 EPS. The firm’s revenue for the quarter was up 20.1% compared to the same quarter last year. As a group, equities research analysts forecast that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were given a dividend of $2.25 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.81%. Amgen’s dividend payout ratio (DPR) is currently 128.57%.

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.