Krane Funds Advisors LLC Makes New Investment in Amgen Inc. (NASDAQ:AMGN)

Krane Funds Advisors LLC acquired a new position in shares of Amgen Inc. (NASDAQ:AMGN) during the third quarter, Holdings Channel reports. The institutional investor acquired 299 shares of the medical research company’s stock, valued at approximately $96,000.

Several other hedge funds have also modified their holdings of the stock. Meyer Handelman Co. increased its position in shares of Amgen by 7.2% in the 2nd quarter. Meyer Handelman Co. now owns 129,831 shares of the medical research company’s stock valued at $40,566,000 after purchasing an additional 8,700 shares during the last quarter. Royal Fund Management LLC boosted its position in shares of Amgen by 20.1% during the 1st quarter. Royal Fund Management LLC now owns 17,378 shares of the medical research company’s stock worth $4,960,000 after acquiring an additional 2,914 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its holdings in shares of Amgen by 37.4% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 11,642 shares of the medical research company’s stock valued at $3,310,000 after acquiring an additional 3,168 shares during the last quarter. Oak Harvest Investment Services raised its position in shares of Amgen by 19.1% during the 1st quarter. Oak Harvest Investment Services now owns 38,067 shares of the medical research company’s stock worth $10,823,000 after acquiring an additional 6,116 shares in the last quarter. Finally, EP Wealth Advisors LLC lifted its stake in 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 purchasing an additional 2,353 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Trading Down 0.1 %

NASDAQ:AMGN opened at $321.33 on Friday. Amgen Inc. has a 52-week low of $249.70 and a 52-week high of $346.85. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 9.64. The stock has a fifty day simple moving average of $326.08 and a 200-day simple moving average of $311.63. The company has a market capitalization of $172.37 billion, a PE ratio of 45.90, a price-to-earnings-growth ratio of 2.86 and a beta of 0.61.

Amgen (NASDAQ:AMGN) last announced its earnings results 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). The business had revenue of $8.39 billion for the quarter, compared to analyst estimates of $8.35 billion. Amgen had a return on equity of 161.72% and a net margin of 10.12%. During the same quarter in the previous year, the firm posted $5.00 EPS. The business’s revenue was up 20.1% on a year-over-year basis. On average, equities research analysts expect that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were issued a $2.25 dividend. 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 2.80%. Amgen’s dividend payout ratio (DPR) is 128.57%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AMGN. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $305.00 price objective (down previously from $310.00) on shares of Amgen in a report on Wednesday, August 7th. Dbs Bank upgraded shares of Amgen to a “strong-buy” rating in a research note on Monday, September 16th. Barclays upped their price objective on shares of Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $362.00 price objective on shares of Amgen in a report on Thursday, September 26th. Finally, Truist Financial downgraded Amgen from a “buy” rating to a “hold” rating and boosted their target price for the company from $320.00 to $333.00 in a report on Monday. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $329.48.

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.