Primecap Management Co. CA Has $4.51 Billion Position in Amgen Inc. (NASDAQ:AMGN)

Primecap Management Co. CA lowered its position in shares of Amgen Inc. (NASDAQ:AMGN) by 1.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,447,127 shares of the medical research company’s stock after selling 154,831 shares during the period. Amgen makes up approximately 3.3% of Primecap Management Co. CA’s portfolio, making the stock its 4th largest position. Primecap Management Co. CA owned approximately 2.69% of Amgen worth $4,514,005,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in AMGN. Aveo Capital Partners LLC boosted its holdings in Amgen by 19.9% in the fourth quarter. Aveo Capital Partners LLC now owns 2,729 shares of the medical research company’s stock worth $786,000 after purchasing an additional 453 shares during the last quarter. Gryphon Financial Partners LLC boosted its holdings in Amgen by 295.3% in the fourth quarter. Gryphon Financial Partners LLC now owns 3,684 shares of the medical research company’s stock worth $1,021,000 after purchasing an additional 2,752 shares during the last quarter. Level Four Advisory Services LLC boosted its holdings in Amgen by 2.6% in the fourth quarter. Level Four Advisory Services LLC now owns 3,958 shares of the medical research company’s stock worth $1,140,000 after purchasing an additional 100 shares during the last quarter. Hillsdale Investment Management Inc. boosted its holdings in Amgen by 49.2% in the fourth quarter. Hillsdale Investment Management Inc. now owns 970 shares of the medical research company’s stock worth $279,000 after purchasing an additional 320 shares during the last quarter. Finally, Gladstone Institutional Advisory LLC boosted its holdings in Amgen by 5.7% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 8,300 shares of the medical research company’s stock worth $2,390,000 after purchasing an additional 449 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

Amgen Trading Up 0.8 %

Shares of AMGN opened at $335.26 on Tuesday. The company has a debt-to-equity ratio of 9.64, a current ratio of 1.26 and a quick ratio of 0.89. Amgen Inc. has a 1 year low of $249.70 and a 1 year high of $346.85. The company has a 50 day simple moving average of $328.66 and a two-hundred day simple moving average of $304.44. The firm has a market cap of $179.85 billion, a P/E ratio of 47.89, a price-to-earnings-growth ratio of 2.93 and a beta of 0.61.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). Amgen had a net margin of 10.12% and a return on equity of 161.72%. The company had revenue of $8.39 billion for the quarter, compared to analysts’ expectations of $8.35 billion. During the same period last year, the business earned $5.00 earnings per share. The company’s quarterly revenue was up 20.1% compared to the same quarter last year. On average, equities analysts expect that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s dividend payout ratio (DPR) is currently 128.57%.

Wall Street Analysts Forecast Growth

AMGN has been the topic of several research reports. Oppenheimer restated an “outperform” rating and issued a $380.00 target price on shares of Amgen in a report on Wednesday, August 7th. Argus boosted their price objective on shares of Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Royal Bank of Canada raised their target price on Amgen from $332.00 to $362.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Bank of America boosted their price target on Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Finally, Morgan Stanley decreased their price objective on Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 11th. Eleven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Amgen presently has a consensus rating of “Moderate Buy” and an average target price of $327.28.

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.