Amgen Inc. (NASDAQ:AMGN) Holdings Lifted by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd grew its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 44.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,496 shares of the medical research company’s stock after buying an additional 8,524 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Amgen were worth $8,856,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Lazard Asset Management LLC lifted its holdings in Amgen by 4.4% in the first quarter. Lazard Asset Management LLC now owns 31,841 shares of the medical research company’s stock worth $9,051,000 after purchasing an additional 1,353 shares during the period. Waverly Advisors LLC boosted its holdings in shares of Amgen by 54.4% in the first quarter. Waverly Advisors LLC now owns 9,628 shares of the medical research company’s stock valued at $2,737,000 after acquiring an additional 3,393 shares in the last quarter. Bayesian Capital Management LP bought a new position in shares of Amgen in the first quarter valued at approximately $2,082,000. Kennedy Capital Management LLC bought a new stake in Amgen during the first quarter worth approximately $3,240,000. Finally, Oxford Wealth Group LLC acquired a new stake in Amgen in the first quarter worth approximately $299,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Stock Performance

Shares of NASDAQ AMGN opened at $294.53 on Monday. The firm has a market capitalization of $158.32 billion, a price-to-earnings ratio of 37.71, a PEG ratio of 2.59 and a beta of 0.60. Amgen Inc. has a one year low of $260.68 and a one year high of $346.85. The business has a fifty day simple moving average of $316.52 and a 200 day simple moving average of $318.18. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, beating 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 company had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. During the same quarter in the prior year, the company posted $4.96 EPS. The business’s revenue was up 23.2% on a year-over-year basis. Sell-side analysts expect that Amgen Inc. will post 19.52 EPS for the current year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 18th will be issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date is Monday, November 18th. Amgen’s payout ratio is 115.24%.

Analyst Ratings Changes

A number of research firms recently issued reports on AMGN. Wolfe Research started coverage on Amgen in a report on Friday, November 15th. They set a “peer perform” rating on the stock. Bank of America lifted their price objective on shares of Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Truist Financial lowered shares of Amgen from a “buy” rating to a “hold” rating and increased their target price for the company from $320.00 to $333.00 in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $305.00 price target (down previously from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. Finally, UBS Group cut their price objective on Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. One 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 issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $333.57.

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.