Aljian Capital Management LLC Grows Stock Position in Amgen Inc. (NASDAQ:AMGN)

Aljian Capital Management LLC raised its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 398.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,052 shares of the medical research company’s stock after acquiring an additional 4,837 shares during the quarter. Amgen makes up 0.5% of Aljian Capital Management LLC’s investment portfolio, making the stock its 29th largest position. Aljian Capital Management LLC’s holdings in Amgen were worth $1,950,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Meyer Handelman Co. increased its position in Amgen by 7.2% during the 2nd quarter. Meyer Handelman Co. now owns 129,831 shares of the medical research company’s stock worth $40,566,000 after purchasing an additional 8,700 shares in the last quarter. EP Wealth Advisors LLC grew its holdings in shares of Amgen by 11.0% during the first quarter. EP Wealth Advisors LLC now owns 23,769 shares of the medical research company’s stock worth $6,758,000 after buying an additional 2,353 shares in the last quarter. Cornerstone Capital Inc. grew its holdings in shares of Amgen by 3.2% during the third quarter. Cornerstone Capital Inc. now owns 106,538 shares of the medical research company’s stock worth $34,328,000 after buying an additional 3,260 shares in the last quarter. Mizuho Securities USA LLC raised its position in shares of Amgen by 88.8% in the third quarter. Mizuho Securities USA LLC now owns 78,092 shares of the medical research company’s stock valued at $25,162,000 after buying an additional 36,733 shares during the last quarter. Finally, Stanley Laman Group Ltd. purchased a new position in shares of Amgen during the second quarter valued at approximately $3,354,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Stock Down 4.2 %

NASDAQ AMGN opened at $283.61 on Monday. The stock has a market cap of $152.45 billion, a PE ratio of 36.31, a P/E/G ratio of 2.53 and a beta of 0.60. The business has a 50 day moving average price of $320.85 and a two-hundred day moving average price of $318.65. Amgen Inc. has a fifty-two week low of $260.52 and a fifty-two week high of $346.85. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55.

Amgen (NASDAQ:AMGN) last announced its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, beating the consensus estimate of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The business had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.50 billion. During the same period in the prior year, the firm earned $4.96 earnings per share. The business’s quarterly revenue was up 23.2% compared to the same quarter last year. As a group, sell-side analysts predict that Amgen Inc. will post 19.51 EPS for the current fiscal year.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date is Monday, November 18th. Amgen’s dividend payout ratio is currently 115.24%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on AMGN shares. StockNews.com upgraded Amgen from a “buy” rating to a “strong-buy” rating in a report on Friday, November 1st. Robert W. Baird reiterated an “underperform” rating and issued a $215.00 target price on shares of Amgen in a research note on Wednesday, September 25th. UBS Group reduced their target price on Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Dbs Bank upgraded Amgen to a “strong-buy” rating in a report on Monday, September 16th. Finally, Bank of America increased their price objective on shares of Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $333.57.

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.